Alnylam zooms as FDA expands approval of rare heart disease drug

Shares of drug developer Alnylam Pharmaceuticals ALNY.O rise 6.5% to $270 premarket

On Thursday, US FDA approved ALNY's injectable drug, Amvuttra, to treat transthyretin amyloid cardiomyopathy (ATTR-CM), a rare and deadly heart disease

Amvuttra was first approved in 2022 to treat nerve damage related to ATTR-CM

Amvuttra is the first treatment to address both nerve and heart forms of ATTR-CM, working by reducing production of the disease-causing protein

List price of Amvuttra is $119,351 per prefilled syringe, administered every 3 months, with no planned change for ATTR-CM treatment

Brokerage Jefferies said it expects Amvuttra's price to decrease over time as prescription volumes rise, with initial impacts likely in the H2 of this year

ALNY gained 71.4%, in the last 12 months