NEW YORK (TheStreet) -- Shares of Alnylam Pharmaceuticals (ALNY - Get Report) were rising 5.19% to $36.05 in late-afternoon trading on Monday after the company's phase III clinical study for its patisiran drug was recommended to continue by the trial's data monitoring committee.
The committee, made of an independent group of experts assigned to the trial, said the study can go on without any changes.
Patisiran treats a progressive, inherited disease that causes sensory and motor function failure. The affliction ultimately leads to disability and death.
Results from the trial are expected by mid-2017.
Alnylam requested that the committee review the trial after the company discontinued the development of its revusiran drug last week.
Revusiran was a gene-silencing drug treating a fatal disease that can lead to heart failure. In a late-stage trial, more patients died after receiving revusiran than those who were given a placebo.
Alnylam is a Cambridge, MA-based biopharmaceutical company.
More than 2.21 million shares of the stock have traded hands so far today vs. the 30-day average volume of 1.27 million shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: ALNY