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Alnylam Pharmaceuticals Shares Plunge After Halting Drug Development

The biopharmaceutical company sparked a sharp selloff after halting production on a key drug.

Shares of Alnylam Pharmaceuticals (ALNY) - Get Alnylam Pharmaceuticals, Inc Report plunged Thursday after the biopharmaceutical company stopped development of its drug to treat hereditary conditions that can lead to nerve and heart damage. A late-stage study of the treatment determined that more patients died after receiving the drug than receiving a placebo. About half of Alnylam's market cap has vanished on the announcement

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