DICERNA PHARMACEUTICALS, INC. (NASDAQ:DRNA) Files An 8-K Entry into a Material Definitive Agreement

Effective December 13, 2019, Peter Kolchinsky, Ph.D. resigned from the Board of Directors (the “Board”) of Dicerna Pharmaceuticals, Inc. (the “Company” or “Dicerna”) and all committees of the Board on which he served. Dr. Kolchinksy’s decision to resign was not related to any disagreement with the Company on any matter relating to its operations, policies, practices or any issues regarding financial disclosures, accounting or legal matters.

Item 8.01 Other Events.

On December 16, 2019, the Company announced that Alexion Pharmaceuticals, Inc. (“Alexion”) has exercised its option for exclusive rights to two additional targets within the complement pathway for the discovery and development of GalXC™ RNAi molecules. This expands the companies’ existing research collaboration and license agreement (the “Alexion Collaboration Agreement”) to now encompass four targets within the complement pathway. In connection with the option exercise, Alexion will pay Dicerna a total of $20 million, or $10 million in option exercise fees per additional new target. The Alexion Collaboration Agreement provides Alexion with exclusive worldwide licenses and commercial rights to the GalXC RNAi molecules developed in the collaboration, including for the two additional targets described herein, in exchange for development- and approval-related milestones, sales milestones and mid-single to low-double digit royalties on future product sales.

Cautionary Note on Forward-Looking Statements

This Current Report on Form 8-K includes forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Examples of forward-looking statements include, among others, statements we make regarding: (i) the development, regulatory, or commercial milestone payments, or royalty payments under the Alexion Collaboration Agreement, (ii) the therapeutic and commercial potential of GalXC™ inferred from the statements regarding such payments, or (iii) our expectations regarding our collaboration with Alexion. The process by which an early-stage platform such as GalXC™ could potentially lead to development candidates, clinical candidates, or approved products is long and subject to highly significant risks, particularly with respect to a preclinical research collaboration. Applicable risks and uncertainties include those relating to our preclinical research and other risks identified under the heading “Risk Factors” included in the Company’s most recent Form 10-Q filing and in other future filings with the SEC. The forward-looking statements contained in this Current Report on Form 8-K reflect the Company’s current views with respect to future events, and the Company does not undertake and specifically disclaims any obligation to update any forward-looking statements.

About DICERNA PHARMACEUTICALS, INC. (NASDAQ:DRNA)

Dicerna Pharmaceuticals, Inc. is a ribonucleic acid (RNA) interference-based biopharmaceutical company. The Company operates in the segment of discovery, research and development of treatments based on its RNA interference (RNAi) technology platform. The Company is focused on the discovery and development of treatments for rare inherited diseases involving the liver and for cancers that are genetically defined. The Company uses its RNAi technology platform to build a pipeline in these therapeutic areas. The Company develops dacryocystorhinostomy (DCR)-Primary Hyperoxaluria Type 1 (PH1) for the treatment of PH1 by targeting the gene encoding the liver enzyme glycolate oxidase. The Company uses its dicer substrate RNA (DsiRNA)-EX Conjugate technology to develop a subcutaneously injected treatment for PH1. The Company develops DCR-MYC for the treatment of MYC-related cancers, including hepatocellular carcinoma (HCC) and pancreatic neuroendocrine tumors (PNET).