On July 22, Arrowhead Pharmaceuticals rose 8.64% in pre-market trading, trading at $89.61/share, with turnover of $118,600.

The move was driven by the company reporting positive data from its core pipeline drug Plozasiran across two pivotal clinical trials. In the Shasta-3 and Shasta-4 studies, Plozasiran achieved median triglyceride reductions of 79% and 81%, respectively, demonstrating robust therapeutic efficacy. Notably, in high-risk patient populations, the drug achieved a 100% reduction in acute pancreatitis events, with no new safety signals observed and a stable safety profile maintained throughout.

Plozasiran, marketed under the brand name Redemplo, previously received European Commission marketing authorization in June for the treatment of familial chylomicronemia syndrome in adults. The simultaneous release of multiple positive datasets broadens the drug's indication prospects in the cardiometabolic disease space. Analyst consensus rates the stock a Buy with a mean price target of $91.82, with Morgan Stanley maintaining an Overweight rating and a $100 target, while Stifel recently initiated coverage at Buy with a $98 target.

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