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Alnylam Pharma Up 50% After Positive Phase 3 Results

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Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) shares are trading higher by $41.00 or 54 percent at $116.04 in Wednesday's session.

The company announced positive Apollo Phase 3 results. The drug is used for the treatment of patients with hereditary ATTR amyloidosis with polyneuropathy.

See Also: Alnylam Pharmaceutical Surges After Rare Disease Drug Meets Key Endpoints

After a $20.00 higher open, it had a brief retreat to $96.34 before continuing its move higher. It has marched on to make new high after new high for the session.

At time of writing, $116.93 stood as the high for the day. That marks the highest level for the stock since August 6, 2015, when it peaked at $129.99, but weakened to end that session at $119.87. The following day, it fell to $106.19 following a worse than expected Q2 earnings report.

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