Does anyone remember when Alnylam went up 50 percent in a day on a phase three result

The moment of truth has arrived

In August 2022 Alnylam (ALNY, market cap 26 billion) went up 50 percent in response to a successful phase 3 study in not-so-rare heart condition called transthyretin-mediated amyloidosis with cardiomyopathy. (The Barrons article below calls the condition rare…)

Tomorrow the FDA is convening an advisory panel to opine on the drug. The discussion paper (linked here) raises genuine questions as to the drugs effectiveness.

The moment of truth has arrived.

I have no idea what the advisory panel will say. But if the recommendation comes back against label extension for the drug will the stock drop a third to reverse previous gains?

Who knows? This market seems to act without much rhyme nor reason.

John