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A biotech company erased $3 billion in value overnight after one of its drugs failed a key trial (ALNY)

Biotech company Alnylam Pharmaceuticals is down almost 50% Thursday after stopping a late-stage clinical trial. The drug, revusiran, was being developed to treat a condition called hereditary ATTR amyloidosis with cardiomyopathy. It's a rare disease in which amyloid proteins build up in the body, in particular the heart. Alnylam discontinued the trial after 18 patients died who were part of the trial.
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