Arrowhead rises after blood-fat drug meets late-stage trial goals

Shares of drugmaker Arrowhead Pharmaceuticals ARWR.O rose 18.1% to $88 premarket after the company said its approved RNA-based drug plozasiran met the main and all secondary goals in two late-stage trials testing it in a broader group of patients with severely high triglycerides, a type of fat in the blood.

The drug, branded as Redemplo, reduced triglyceride levels by 79% and 81% after 12 months in the two studies, versus about 27% for placebo.

Plozasiran also cut cases of acute pancreatitis, a potentially fatal inflammation of the pancreas, by 78% across the studies and prevented all such events among the highest-risk patients.

The company said no new safety concerns were seen and plans to seek expanded U.S. approval by year-end; detailed results are due on Aug. 30.

As of last close, ARWR was up 12.3% year to date.