Arrowhead Pharmaceuticals (ARWR) saw its stock price surge 8.61% during intraday trading on Monday, driven by the U.S. FDA's approval of its first siRNA therapy, REDEMPLO (plozasiran), for treating 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, a global licensing agreement with Novartis, worth up to $2 billion, further strengthens Arrowhead's financial position and investor confidence.