See Dirk's HBV Knockdown Blog, his entry dated Sept. 17 - a helpful analysis.
He may do something similar with TKMR in mind. Here's his tweet from today, with his guess about what TKMR will announce for its new pipeline candidates:
My guesses for $TKMR targets: HepB and alpha-1 antitrypsin. HepC would be worrisome.
Well, if nothing else, *if* TKMR announces HepB as a new candidate (and I can't blame them, very soon ARWR will be "leaving the station" with it; if TKMR is going to make HBV a target, now's the time to do it)... if nothing else, I would imagine that event pulling some investor attention onto TKMR and ARWR - what a horse race: the longstanding, currently "best in class" delivery system, going head to head with "the new kid on the block" DPC delivery system (TKMR's CEO did say on last week's call that he foresees room for more than one delivery system) to treat HBV and its HUGE potential market.
And what a show that would be.
I think, if that were to happen, ARWR would ultimately benefit, really getting to show what the DPC technology can do in going head to head with the current "best in class." If DPC is indeed the up and coming "best in class," there's not a better way to make that clear. TKMR would have some advantages too (if it got in at this still relatively early stage), even if DPC ultimately proves itself as the best delivery system. But all the more reason that the dynamic between the two companies - both going for the gold of treating HBV in a crucial way - could become something for investors to engage with (at the very least to keep a keen eye on).