In Thursday’s afterhours session, shares of Dicerna Pharmaceuticals Inc. (DRNA) dropped by -24.58% to $28.60. DRNA stock price climbed 1.66% last trading session to $37.92. The DRNA stock recorded a trading volume of 0.76 million shares, which is in line with the average daily trading volume of 0.71 million shares published for the last 50 days.
Within the last five days, DRNA stock has fallen 2.07%; however, over the last month, it has stabilized climbing 0.08%. DRNA stock price has risen 42.18 percent over the last three months and 74.10 percent such far this year. Despite encouraging results of a clinical trial, DRNA stock plunged in the extended session.
Which DRNA Stock trial was successful?
Dicerna is a biopharmaceutical company searching for, developing, and commercializing genetically engineered medicines that utilize RNA interference (RNAi) to silence genes that cause or contribute to disease. Through its proprietary GalXC and GalXC-Plus RNAi technologies, DRNA aims to develop RNAi-based therapies that can be used to treat both rare and more prevalent diseases. The GalXC platform from DRNA has the potential to address conditions that are difficult to treat with other approaches by silencing disease-causing genes.
Dicerna reported top-line positive results for its phase 2 PHYOX2 clinical trial of Nedosiran yesterday.
- A therapy known as Nedosiran has been developed by DRNA to treat primary hyperoxaluria (PH), a family of extremely rare and life-threatening kidney diseases.
- A GalXC RNAi candidate called Nedosiran targets the hepatic lactate dehydrogenase (LDH), a crucial step in metabolic pathways that leads to oxalate overproduction in patients with PH.
- PHYOX2 was studied in a clinical trial conducted by DRNA and included participants with PH subtype 1 and 2 (PH1 and PH2).
- PHYOX2 showed that Nedosiran achieved the primary endpoint of the trial, which was significantly lower urinary oxalate (Uox) excretion when compared with placebo.
- As for the secondary endpoint, Nedosiran also achieved and sustained normal or near-normal Uox at two or more consecutive visits after Day 90 compared to placebo in the DRNA study.
- Compared with the participants with PH2, DRNA observed significant Uox reductions for those with PH1.
- The DRNA study found Nedosiran generally well tolerated, with a profile of adverse events (AEs) consistent with past PHYOX data.
Release of DRNA’s quarterly results:
Dicerna (DRNA) plans to release its second quarter financial results before the market opens on Monday, August 9, 2021. An 8:30 am ET conference call will be held to discuss DRNA’s financial results and to provide a general business update. A webcast of the conference call will be available on DRNA’s website under “Investors & Media”. DRNA will also archive the webcast on its website.
