Arrowhead Pharmaceuticals (ARWR) saw its stock price surge 8.61% during intraday trading on Monday, driven by the U.S. FDA's approval of REDEMPLO (plozasiran), its first siRNA therapy for reducing triglycerides in adults with familial chylomicronemia syndrome (FCS).

The approval marks a pivotal milestone for Arrowhead, transitioning it into a commercial-stage company. REDEMPLO, a quarterly self-administered treatment, opens new revenue streams and validates the company's RNAi platform. Additionally, Arrowhead's global licensing agreement with Novartis, including a $200 million upfront payment, further strengthens its financial position and shifts its business model away from reliance on partnership deals.