Market Commentary and Intraday News
Alnylam gets $3.2M payment from Glaxo
299 days ago
(AP:CAMBRIDGE, Mass.) Alnylam Pharmaceuticals said Monday it received a $3.2 million development payment from partner GlaxoSmithKline for technology used to manufacture the company's influenza vaccine.
Alnylam's VaxiRNA technology helps silence specific genes that limit or prevent efficient manufacturing of vaccines made from cell cultures and eggs.
Under an agreement between the companies, British drugmaker Glaxo provides research funding and certain milestone payments to Alnylam. If the company's technology is successfully used in commercial vaccines, Alnylam will receive additional royalty payments.
Shares of Alnylam Pharmaceuticals Inc. fell 47 cents, or 2.3 percent, to $19.75 in afternoon trading.
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