Why Dicerna Rocketed Higher Today [The Motley Fool]
Dicerna Pharmaceuticals, Inc. (DRNA)
Last dicerna pharmaceuticals, inc. earnings: 2/27 04:05 pm
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Source: The Motley Fool
Investors are happy the biotech ended a lawsuit hanging over its head. Brian Orelli ( TMFBiologyFool ) Apr 20, 2018 at 4:08PM What Dicerna Pharmaceuticals ( NASDAQ:DRNA ) is up 18.6% at 3:31 p.m. EDT after announcing that it settled a trade secrets lawsuit with Alnylam Pharmaceuticals ( NASDAQ:ALNY ) , which is up 1.3% itself. Call it a win-win settlement. So what Both companies are developing RNA interference drugs that seek to knock down protein levels by targeting RNA, which is the intermediary between genes on DNA and the protein the genes encode for. Alnylam claimed that Dicerna was interfering with its trade secrets. Dicerna countered, claiming anti-competitive practices. To end both sides of the lawsuit, Dicerna agreed to pay Alnylam an upfront fee of $2 million plus 983,208 shares of Dicerna common stock, which are now worth
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