RNAi therapeutics company Alnylam Pharmaceuticals Inc reported positive interim data from its ongoing Phase 1 study of ALN-AGT. The company is evaluating ALN-AGT for the treatment of hypertension.
Alnylam Pharmaceuticals (ALNY) President of R&D, Akshay Vaishnaw, M.D., Ph.D., said, “We believe the results for ALN-AGT are highly encouraging and demonstrate the potential of an RNAi therapeutic to help people reach and maintain their blood pressure goals.”
Vaishnaw added, “Based on these findings, we look forward to advancing the clinical program for ALN-AGT with the initiation of Phase 2 KARDIA studies planned in mid-2021.” (See Alnylam Pharmaceuticals stock analysis on TipRanks)
This was a double-blind, placebo controlled study with a single ascending dose. It included 84 hypertension patients to study the safety, tolerability and preliminary pharmacokinetic and pharmacodynamic activity of the drug.
The single doses achieved sustained reductions in Serum Angiotensinogen at 12 weeks, leading to lowered blood pressure and supporting the potential of once quarterly or biannual dosing in patients.
ALN-AGT was observed to be generally well tolerated among subjects with an acceptable safety profile. This data supports advancing the therapy to Phase 2 studies.
Last month, Chardan Capital analyst Keay Nakae reiterated a Buy rating on the stock with a $190 price target (37.4% upside potential).
Nakae commented, “Alnylam is the clear leader in the RNAi space, as its scale, experience, patents, and breadth of pipeline place it in an advantageous position.”
The consensus on the Street is that Alnylam is a Moderate Buy, based on 8 Buys and 7 Holds. The average analyst price target of $178.80 implies an upside potential of 29%. Shares have gained about 18.8% over the past year.
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