Alnylam Pharmaceuticals (ALNY) today concluded its 2014 RNAi discovery collaboration with Sanofi (SNY) and announced a new five-year RNAi drug discovery alliance with Regeneron Pharmaceuticals (REGN), Piper Jaffray analyst Edward Tenthoff tells investors in a research note. Alnylam will receive $400M in cash and Regeneron will make a $400M equity investment at $90 per Alnylam share, bringing its estimated pro forma cash to $2.3B, adds the analyst. He believes the alliance is a "clear positive for Alnylam "dramatically expanding" its RNAi drug discovery capabilities and strengthening its balance sheet to advance its own orphan disease programs. Tenthoff reiterates an Overweight rating on Alnylam with a $142 price target. The stock in early trading is down 3%, or $2.95, to $89.94.

ProQR Therapeutics (PRQR) announced the Annual General Meeting, AGM, of Shareholders will take place on Wednesday, May 22, 2024 at the offices of Allen & Overy LLP, in Amsterdam, the Netherlands. As part of the AGM, Martin Maier, PhD, is nominated for appointment as a non-executive Board Member for a period of four years. Dr. Maier is Senior Vice President Research heading the Oncology group at Alnylam Pharmaceuticals (ALNY).