Kaskela Law LLC Announces Investor Class Action Lawsuit Against Alnylam Pharmaceuticals, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm ALNY

Globe Newswire 3-Oct-2018 8:30 AM

RADNOR, Pa., Oct. 03, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that an investor class action lawsuit has been filed against Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) ("Alnylam" or the "Company") on behalf of purchasers of the Company's securities between February 15, 2018 and September 12, 2018, inclusive (the "Class Period").

IMPORTANT DEADLINE:  Investors who purchased Alnylam's securities during the Class Period may, no later than November 26, 2018, seek to be appointed as a lead plaintiff representative of the investor class. 

Investors with financial losses in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or via email at skaskela@kaskelalaw.com, to discuss this action and their legal rights and options.  Additional information about this action, including how to participate in the action, may also be found at http://kaskelalaw.com/case/alnylam-pharmaceuticals/.

On September 12, 2018, Nomura/Instinet analyst Christopher Marai stated that a review document released by the FDA's Center for Drug Evaluation and Research "highlights greater risk" with respect to certain trials of Alnylam's ONPATTRO (patisiran) lipid complex injection, as well as "a limited market opportunity in TTRcardiomyopathy, and a potential platform safety risk."  Specifically, Marair asserted that "[t]he document highlights FDA reviewers' concerns over cardiac deaths in patients treated with ONPATTRO and suggests that the drug should be limited to patients with polyneuropathy only (i.e., not patients with cardiac manifestations and polyneuropathy). Furthermore, we believe some comments on the lack of cardiac efficacy call into question claims made by [Alnylam] in this regard."

Following this news, shares of Alnylam's common stock fell $5.60 per share, or over 5.5% in value, to close on September 12, 2018 at $94.75.

The shareholder class action complaint alleges that defendants made false and misleading statements and failed to disclose to investors during the Class Period that: (i) Alnylam had overstated the efficacy and safety of its Onpattro (patisiran) lipid complex injection; and (ii) as a result, Alnylam's public statements were materially false and misleading at all relevant times.  The complaint further alleges that, as a result of the foregoing, investors purchased Alnylam's securities at artificially inflated prices during the Class Period and sustained significant investment damages.

Alnylam investors with financial losses in excess of $100,000 are encouraged to contact Kaskela Law LLC to discuss this action and their legal rights and options.  Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com