Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) shares are up 31%, to $7.36, on news of a research collaboration and license agreement with Boehringer Ingelheim to discover and develop novel GalXC™ RNAi therapeutics for the treatment of chronic liver diseases. Under the terms of the agreement, Dicerna may receive more than $200 million in upfront, development and commercial milestone payments, and research and development reimbursement for a GalXC candidate product addressing an undisclosed NASH target. Dicerna is also eligible to receive royalties staggered up to double-digits on worldwide net sales.
About Dicerna Pharmaceuticals
Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), based in Cambridge, MA, discovers and develops RNAi-based therapeutics for diseases involving the liver, including rare diseases, chronic liver diseases, cardiovascular diseases, and viral infectious diseases. Dicerna is leveraging its proprietary GalXC™ RNAi technology platform to build a broad pipeline in these core therapeutic areas, focusing on target genes where there are recognized connections between the target gene and diseases.
Dicerna’s GalXC technology platform uses RNAi to inhibit the expression of disease-causing genes by destroying the messenger RNAs (mRNAs) of those genes. This new approach has the potential to treat diseases by silencing previously inaccessible drug targets.
Douglas M. Fambrough, President and Chief Executive Officer of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) stated, “With strong capabilities in drug discovery, deep expertise in the cardiometabolic space, and proven commercial experience, Boehringer Ingelheim is a natural partner to speed the development of the first GalXC RNAi program targeting chronic liver disease. The collaboration combines the strong capabilities of both companies to pursue the full potential of Dicerna’s GalXC technology to bring valuable and differentiated RNAi therapies to patients with liver diseases and their healthcare teams, and reflects both the promise of the GalXC technology and the strength of its underlying intellectual property.”
DRNA Stock Performance
Five investment firms follow Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). Four rate DRNA shares as a “Strong Buy” and one rates the shares as a “Hold”.
In 2016, DRNA shareholders saw a per share loss of (-$2.87) on total sales of just $300,000. Despite those numbers, shareholders have seen a year-to-date gain of over 95%. Today’s price action (currently at $7.36) eclipses the previous 52-week high of $6.75 and also tops analyst’s consensus one-year price target of $5.75.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.