When Biotechs Cancel Conference Presentations (ALNY)
August 4, 2008 · Filed Under Diabetes · Comments Off
There was an intersting note out of Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY). The company has withdrawn from an upcoming investor presentation for this coming Friday.
While it is very possible that this is something completely harmless or just over a scheduling conflict, traders right now are looking for any and all things that could point to the next buyout candidate in a rapidly consolidating biotech sector.
Whether or not anything comes from that or whether this is just noise will be debated by traders and analysts alike. We saw 17,371 shares trade after the close, but a few hundred shares traded up at $36.00 since after this news was released.
JON OGG
AUGUST 4, 2008