Surge of positive sentiment lifts biotech shares

Standout data from Alnylam on a closely watched clinical milestone, and a bolus of dealmaking capped by Amgen’s proposed $4 billion buy of ChemoCentryx, delivered one of the best weeks for biotech since February 2021.

Wednesday’s readout from Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY), which put amyloidosis drug Onpattro patisiran on track to reach a much larger population of patients, helped lift biotech indexes by about 4%. Buysiders surveyed by BioCentury early this summer flagged the study as a catalyst that could drive broader investor sentiment in the sector. ...