3 Hot RNAi Stocks Today
RNAi (RNA interference) is a revolution in biology that has been heralded as “a major scientific breakthrough that happens once every decade or so”. In previous articles we discussed two upcoming RNAi IPOs; Dicerna Therapeutics and Microlin Bio. The environment bodes well for these potential IPOs as today three RNAi stocks made announcements that saw significant gains in the early hours of trading.
With a current market cap of 6.5 billion, RNAi therapeutics company Alnylam Pharmaceuticals (NASDAQ:ALNY) is currently trading at $107.65 up over 68% in the first few hours of trading this morning on heavy volume. An announcement today stated that Genzyme has significantly expanded their strategic agreement with Alnyam to develop and commercialize treatments for rare genetic diseases. Genzyme will have significant rights to Alnylam’s portfolio of clinical and pre-clinical stage drug candidates. Genzyme will become a major Alnylam shareholder with a stake of approximately 12% percent through a $700 million investment at a price of approximately $80/share, which represents a 27% premium as compared to the average share price over the last 30 days.
With a current market cap of 40 million, microRNA diagnostic test company Rosetta Genomics (NASDAQ:ROSG) is currently trading at $4.04 up over 26% in the first few hours of trading this morning on heavy volume. Rosetta announced that it has signed a master service provider agreement with an undisclosed major global biopharmaceutical company. Under the agreement Rosetta will provide its microRNA profiling and other services pursuant to a collaboration in important areas of unmet medical need utilizing a novel therapeutic approach. In the U.S. alone, Rosetta Genomics estimates that 200,000 patients a year may benefit from the Rosetta Cancer Origin Test, 60,000 from the Rosetta Mesothelioma Test, 65,000 from the Rosetta Kidney Cancer Test and 226,000 patients from the Rosetta Lung Cancer Test. The Company’s assays are offered directly by Rosetta Genomics in the U.S., and through distributors around the world.
With a current market cap of 40 million, lipid nanoparticle (LNP) RNAi delivery technology company Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) is currently trading at $12.61 up over 27% in the first few hours of trading this morning on heavy volume. Tekmira announced today that it has signed an Option Agreement with Monsanto, pursuant to which Monsanto may obtain a license to use Tekmira’s proprietary delivery technology. The transaction will support the application of Tekmira’s proprietary delivery technology and related intellectual property (IP) for use in agriculture. Tekmira noted that the potential value of the transaction could reach up to US$86.2 million following the successful completion of milestones. Tekmira expects to receive a near term payment of net US$16.5 million.