BRIEF—Alnylam seeks to raise $900 million in offering

RNAi therapeutics company Alnylam has commenced a private offering of $900 million aggregate principal amount of convertible senior notes.

The US company, which is seen as a leader in the RNAi space with five products on the market and many more in development, expects to grant the initial buyers of the notes an option to acquire up to an additional $135 million.

Alnylam made the announcement on the offering early Monday. Its share price was 6% lower after the opening hour of New York trading.