NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Alnylam Pharmaceuticals, Inc.:
On September 13, 2023, Alnylam announced the U.S. Food and Drug Administration’s (FDA) Cardiovascular and Renal Drugs Advisory Committee (CRDAC) approved Alnylam’s application to expand approval for Onpattro to ATTR-cardiomyopathy (CM) patients. Analysts commenting on the approval noted the FDA was not overly positive and “emphasized the small treatment effects and was seemingly negative on clinical meaningfulness.” Following this news, Alnylam’s stock price fell by $18.59 per share, or approximately 4% to close at $193.06 per share. Further, on October 9, 2023, Alnylam issued a press release announcing that the FDA issued a Complete Response Letter (CRL) as to the Company's “supplemental New Drug Application (sNDA) for patisiran for the treatment of the cardiomyopathy of transthyretin-mediated (ATTR) amyloidosis." Alnylam announced that the CRL indicated that “the clinical meaningfulness of patisiran's treatment effects for the cardiomyopathy of ATTR amyloidosis had not been established, and therefore, the sNDA for patisiran could not be approved in its present form.” As a result, the Company announced it would no longer pursue an expanded indication for patisiran in the U.S. Following this news, Alnylam’s stock price fell by $2.53 per share, or approximately 2% to close at $165.29 per share.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Alnylam investors. If you incurred a loss on your ALNY investment, please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/alnylam-loss-submission-form/?id=54994&from=3
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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