** Shares of Arrowhead Pharmaceuticals ARWR.O rise 3.19% to $41.49
** U.S. FDA approves ARWR's drug for a type of genetic disorder that causes extremely high levels of fat in the bloodstream, the health regulator's website showed
** In a 75-patient late-stage study, the drug branded as Redemplo, reduced triglycerides, a key hallmark of the disease, by 80% and cut the risk of pancreatitis by 83% versus placebo in patients with a hereditary condition known as Familial chylomicronemia syndrome
** The condition is a rare inherited disorder that prevents the body from properly breaking down fats, leading to extremely high levels of triglycerides in the blood
** Including session's move, stock up ~115% YTD
(Reporting by Siddhi Mahatole and Sahil Pandey)
((siddhi.mahatole@thomsonreuters.com))