By any reasonable set of standards, 2017 was a successful year for Alnylam (ALNY),
as this biotech reported excellent data from the pivotal study of its
lead drug patisiran and advanced other compounds further into
development as well. This year will bring a new set of challenges,
including the commercialization of patisiran and its transition to a
product revenue-generating biotech company. Although I believe
patisiran's strong data will lead to it claiming the lion's share of its
market, commercialization offers a different set of challenges. What's
more, while Alnylam should be looking at multiple commercializations in
the next few years, recharging the pipeline may start to become a bigger
talking point later this year.
I continue to
believe that Alnylam is risky but attractively-priced. Patisiran makes
up over 60% of my fair value estimate on the shares, but there are
opportunities for additional clinical data on/from givosiran and
lumasiran to add more value over the next 12 months.
Continue here:
2018 Brings New Challenges And Opportunities For Alnylam Pharmaceuticals
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