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Arrowhead reports positive data from liver drug, but company’s shares slide

Arrowhead’s drug, called fazirsiran, is designed to treat alpha-1 antitrypsin deficiency, a genetic condition in which a mutant form of the namesake protein accumulates in liver cells, causing fibrosis and cirrhosis.

Alpha-1 antitrypsin, or AAT, deficiency has become a target of several drugmakers, including Vertex Pharmaceuticals, Dicerna Pharmaceuticals and Wave Life Sciences. The last two have been targets of recent dealmaking, with Novo Nordisk announcing an acquisition of Dicerna and GSK licensing Wave’s AAT drug

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