Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Arrowhead Pharmaceuticals (NASDAQ: ARWR) stock has climbed over 45% higher after the company announced positive interim results from its Phase 2 study of ARO-AAT in treating a rare genetic liver disease.
Arrowhead said that the therapeutic, which is being used in the study to treat a rare genetic liver disease associated with alpha-1 antitrypsin deficiency (AATD), showed clear evidence of a meaningful effect leading to improvements in patients.
“The improvements in additional clinically meaningful biomarkers, including reductions in Z-AAT polymer, improvements in FibroScan values, and decreases in ALT and GGT, were more substantial than we expected,” said Javier San Martin, MD, chief medical officer at Arrowhead.
The news resulted in a leap in Arrowhead’s share price. It closed Wednesday’s trading session at $33.80 and is currently trading at $49.22 per share, up over 45%.
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