By Josh Beckerman
Shares of Alnylam Pharmaceuticals hit a 52-week high after it posted a strong quarter and said a heart-disease treatment received Food and Drug Administration Fast Track Designation.
The stock was up 16%, to $394.20, midday Thursday, with an intraday high of $402.43. Shares are up about 68% this year.
The Cambridge, Mass., company said the FDA awarded Fast Track Designation to nucresiran, a treatment for cardiomyopathy of wild-type or hereditary transthyretin mediated amyloidosis.
Alnylam reported that second-quarter net product revenue rose 64%, to $672 million, with total revenue up 17%, to $773.7 million. The company increased its full-year net product revenue guidance range to $2.65 billion to $2.8 billion from $2.05 billion to $2.25 billion.
Adjusted earnings per share declined to 32 cents from 56 cents, but were above the average estimate of 2 cents from analysts polled by FactSet. The company posted higher expenses for sales, general and administrative costs as well as research and development.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 31, 2025 14:10 ET (18:10 GMT)
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