Arrowhead Pharmaceutical Gains Over Initiation Of Phase 1/2a Study Of ARO-DM1

(RTTNews) - Shares of Arrowhead Pharmaceuticals, Inc. (ARWR) are climbing over 6 percent on Friday morning following the announcement of initiation of phase 1/2a study of ARO-DM1 for the treatment of type 1 myotonic dystrophy or DM1.

DM1 is the most common type of muscular dystrophy, where patients suffer from muscle weakness and wasting, myotonia, cataracts, and cardiac conduction abnormalities.

According to preclinical data, ARO-DM1 achieved greater than 80 percent silencing of DMPK in skeletal muscle, which was maintained for longer than 85 days, the company stated.

Currently, Arrowhead's stock is trading at $35.26, up 6.33 percent over the previous close of $33.20 on the Nasdaq.