Arrowhead rises after blood-fat drug meets late-stage trial goals
ARWR•Brokerage commentary and next steps
** J.P. Morgan says the results hit its "home run" scenario and could help Redemplo capture a "dominant piece" of the global market; brokerage estimates risk-adjusted peak sales of $3.2 billion
** RBC Capital Markets calls the results a "best-case scenario," saying ARWR could rival Ionis Pharmaceuticals’ IONS.O treatment with comparable benefits and less frequent dosing
** Co says no new safety concerns were seen and it plans to seek expanded U.S. approval by year-end; detailed results are due on Aug. 30
** Including session's move, ARWR up 34.5% YTD
Arrowhead shares jump after late-stage trials meet goals
** Shares of drugmaker Arrowhead Pharmaceuticals ARWR.O rise 19.8% to $89.29
** Co says 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 - ARWR
