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Case Status:    ONGOING    
On or around 03/23/2020 (Date of last review)

Filing Date: September 26, 2018

Plaintiff's law firm issued a press release on September 26, 2018, announcing the lawsuit. According to the press release, Alnylam Pharmaceuticals, Inc. (“Alnylam” or the “Company”) is a global biopharmaceutical company developing therapeutics based on RNA interference (“RNAi”). RNAi is a naturally occurring biological pathway within cells for sequence-specific silencing and regulation of gene expression. Alnylam purports to harness the RNAi pathway to develop a potential new class of innovative medicines, known as RNAi therapeutics. RNAi therapeutics are comprised of small interfering RNA, or siRNA, and function upstream of today’s medicines by potently silencing messenger RNA, or mRNA, that encode for disease-causing proteins, thus preventing them from being made.

In December 2017, Alnylam submitted its first new drug application and marketing authorization application for Onpattro (patisiran) to the U.S. Food and Drug Administration (“FDA”). Patisiran is an intravenously administered RNAi therapeutic targeting transthyretin (“TTR”) for the treatment of hereditary ATTR amyloidosis. It is designed to target and silence specific messenger RNA, potentially blocking the production of TTR protein before it is made.

In August 2018, patisiran received FDA approval for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults, having been reviewed by the FDA under Priority Review and previously granted Breakthrough Therapy and Orphan Drug Designations.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alnylam 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.

On November 20, 2018, this case was transferred to the District of Massachusetts.

On May 8, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 3. Defendants filed a Motion to Dismiss the amended Complaint on July 31. On March 23, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. The Complaint was dismissed without prejudice.


Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States


Ticker Symbol: ALNY
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 18-CV-08845
JUDGE: Hon. Gregory H. Woods
DATE FILED: 09/26/2018
CLASS PERIOD END: 09/12/2018
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 18-CV-12433
JUDGE: Hon. Gregory H. Woods
DATE FILED: 07/03/2019
CLASS PERIOD END: 09/12/2018
  1. Berman Tabacco
  2. Bernstein Liebhard LLP (New York)
No Document Title Filing Date
—Related District Court Filings Data is not available