RTTNews | Aug 6, 2021 10:05AM EDT

10:05 Friday, August 6, 2021 (RTTNews.com) - Shares of Dicerna Pharmaceuticals Inc. (DRNA) tanked nearly 35% despite the drug company's pivotal nedosiran study meeting primary endpoint.

DRNA is currently trading at $24.87, down $13.05 or 34.41%, on the Nasdaq.

Dicerna Pharmaceuticals, a developer of investigational ribonucleic acid interference (RNAi) therapeutics, announced positive top-line results from the company's PHYOX2 pivotal clinical trial of nedosiran, which is in development as a once-monthly treatment for primary hyperoxaluria, a family of ultra-rare, life-threatening genetic disorders that initially manifest with complications in the kidneys.

Nedosiran is Dicerna's lead GalXC RNAi therapeutic candidate and is designed to inhibit the hepatic lactate dehydrogenase enzyme. The PHYOX2 clinical trial included participants with PH subtypes 1 and 2.

The company said it expects to submit an NDA to the U.S. FDA in fourth quarter.

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