Alnylam Pharmaceuticals (ALNY) Higher Following Merck's (MRK) Deal to Buy Sirna Therapeutics (RNAI)
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Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY) is seeing interst in after-hours action after Merck & Co., Inc. (NYSE: MRK) bought fellow RNAi comapny Sirna Therapeutics, Inc. (NASDAQ: RNAI) at a huge 100% premium.
Alnylam is a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi. The company is applying its therapeutic expertise in RNAi to address significant medical needs, many of which cannot effectively be addressed with small molecules or antibodies, the current major classes of drugs. Alnylam is building a pipeline of RNAi therapeutics; its lead program is in Phase I human clinical trials for the treatment of respiratory syncytial virus (RSV) infection, which is the leading cause of hospitalization in infants in the U.S.
Shares of Alnylam are 20.5% higher to $20 in after-hours action.
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