Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s What Happened With Alnylam Pharmaceuticals, Inc. (ALNY) and Tenax Therapeutics Inc (TENX)

A couple of companies have had a tough twenty-four hours in the biotech space. One discontinuation, and another primary endpoint miss, has served up double digit losses in the companies in question, and both look set for further losses as we close in on the end of the week.

Here’s what happened.

The companies in question are Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and Tenax Therapeutics Inc (NASDAQ:TENX). We’ll kick things off with Alnylam, as this is the major news of the day.

pharmacist, senior, man, talking, helpful, nhs, helping, counter, medication, older, american, drugs, woman, shelves, male, pack, usa, medical, practice, horizontal, adult,

Monkey Business Images/

The company has been developing what looks like a pretty robust pipeline of what are called RNAi therapeutics, or RNA interference drugs. This class of drugs was hailed as being a potential game changer across a variety of target indications as near term as just a couple of years ago. Some big names picked up programs, however they subsequently dropped these programs and moved on. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was one of the few that stuck with the drug class, and the biggest of the bunch, and it pretty much gambled its future on RNAi.

Fats forward to last night, and the company announced that it was dropping one of its lead programs, a phase III trial investigating the efficacy of a drug called revusiran in a rare disease target called hereditary transthyretin-related amyloidosis (hATTR) with cardiomyopathy (hATTR-CM).

Right now, we don’t know much. All we know is that the data monitoring committee that was tasked with keeping an eye on the study brought to light some concerning death rates (and recommended halting dosing), and that on analysis of these rates, the company has decided to discontinue the study entirely. Reportedly, eighteen deaths out of a total of a little over 200 patients occurred, and there was some unusually high level of nerve pain in patients in the active arm.

On the news, markets have traded down on Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), and the company is currently trading close to 50% down on its Wednesday evening close. How this is going to play out, nobody is quite sure. The company still has a number of RNAi programs ongoing, and there looks to be some promise in these. If this turns out to be the case, the 50% hit will probably turn out to be an oversell. It’s a real gamble right now, however. It’s another in the long list of failures already racked up in RNAi, and the number of potential positive plays is dwindling.

Follow Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY)
Trade (NASDAQ:ALNY) Now!

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.