Arrowhead Gains 5% After Latest Plozasiran Update Puts Spotlight on Rare Disease Race
Arrowhead Pharmaceuticals stock climbed about 5% to $78.68 late Tuesday. The rise brought the company’s market cap to roughly $11.2 billion. Arrowhead released new plozasiran data at the European Atherosclerosis Society meeting in Athens. The company said results back using a 25-mg dose, without need for adjustment, in patients with moderate-to-severe kidney issues or moderate liver impairment. “This is an important step,” said Jennifer Hellawell, vice president of clinical development. The readout has new weight because plozasiran got its first FDA nod back in November. Redemplo cleared the agency for familial chylomicronemia syndrome, or FCS, a genetic disease that keeps people from breaking down triglycerides, the fat in blood. The FDA says a normal level is under 150 mg/dL—over 500