Alnylam Pharmaceuticals Reports First Quarter 2024 Financial Results and Highlights Recent Period Activity
Alnylam Pharmaceuticals reported strong first quarter 2024 financial results with Global Net Product Revenues of $365 million, reflecting a 32% Year-Over-Year Growth. The company achieved positive results in the Zilebesiran Hypertension Program, initiated Phase 2 studies, and remains on track to report Topline Results from Vutrisiran's Phase 3 Study. Alnylam reiterated its 2024 Financial Guidance with expected combined Net Product Revenues of $1,400 million to $1,500 million.
Global Net Product Revenues of $365 million, a 32% Year-Over-Year Growth compared to Q1 2023.
Positive results from the Zilebesiran Hypertension Program's KARDIA-2 Phase 2 study.
Initiation of the KARDIA-3 Phase 2 study for Zilebesiran.
Remain on track to report Topline Results from the HELIOS-B Phase 3 study of Vutrisiran.
Reiterated 2024 Financial Guidance with combined Net Product Revenues of $1,400 million to $1,500 million.
GAAP Net loss for the quarter.
Increased GAAP and non-GAAP R&D expenses compared to the same period in 2023.
Increased GAAP and non-GAAP SG&A expenses compared to the same period in 2023.
Insights
− Achieved First Quarter 2024 Global Net Product Revenues of
− Demonstrated Strong Progress with Zilebesiran Hypertension Program with Positive Results from KARDIA-2 Phase 2 Study and Initiation of KARDIA-3 Phase 2 Study –
− Remain on Track to Report Topline Results from HELIOS-B Phase 3 Study of Vutrisiran in Late June or Early July –
− Reiterated 2024 Financial Guidance, Including Combined Net Product Revenues of
“2024 is off to a strong start, with exceptional commercial performance where we delivered
First Quarter 2024 and Recent Significant Corporate Highlights
Commercial Performance
Total TTR: ONPATTRO® (patisiran) & AMVUTTRA® (vutrisiran)
-
Continued growth momentum in total TTR, achieving global net product revenues for ONPATTRO and AMVUTTRA for the first quarter of
$69 million $195 million 4% total TTR quarterly growth compared to Q4 2023 and29% annual growth compared to Q1 2023.
Total Rare: GIVLAARI® (givosiran) & OXLUMO® (lumasiran)
-
Achieved global net product revenues for GIVLAARI and OXLUMO for the first quarter of
$58 million $43 million 9% total Rare quarterly growth compared to Q4 2023 and40% annual growth compared to Q1 2023.
R&D Highlights
Announced updates to the statistical analysis plan for the HELIOS-B Phase 3 study of vutrisiran in patients with ATTR amyloidosis with cardiomyopathy, including adjustments to the primary and secondary endpoints and analysis period. Topline results remain on track to be reported in late June or early July.
Reported positive results from the KARDIA-2 Phase 2 study of zilebesiran added to standard-of-care antihypertensives in patients with inadequately controlled hypertension.
Initiated the global KARDIA-3 Phase 2 study of zilebesiran in adult patients with high cardiovascular risk and uncontrolled hypertension despite treatment with two to four standard of care antihypertensive medications. Study initiation triggered a
Published results from the Phase 2 KARDIA-1 study of zilebesiran in the Journal of the American Medical Association (JAMA).
Received clearance from the
Presented new preclinical data for ALN-HTT02, an investigational RNAi therapeutic targeting huntingtin (HTT) in development for the treatment of Huntington’s disease at the CHDI Foundation’s 19th Annual Huntington’s Disease Therapeutics Conference.
Upcoming Events
In early and mid-2024, Alnylam intends to:
- Report topline results from the HELIOS-B Phase 3 study of vutrisiran in late June or early July.
- Initiate a Phase 2 study of mivelsiran (formerly ALN-APP) in patients with cerebral amyloid angiopathy.
- Initiate Part B of the Phase 1 study of ALN-KHK, in development for the treatment of Type 2 diabetes mellitus.
- Initiate a Phase 1 study of ALN-BCAT, in development for the treatment of hepatocellular carcinoma.
Financial Results for the Quarter Ended March 31, 2024
|
Three Months Ended
|
||||||
(In thousands, except per share amounts) |
|
2024 |
|
|
|
2023 |
|
Net product revenues |
$ |
365,163 |
|
|
$ |
276,328 |
|
Net revenue from collaborations |
$ |
118,548 |
|
|
$ |
36,462 |
|
Royalty revenue |
$ |
10,622 |
|
|
$ |
6,500 |
|
|
|
|
|
||||
GAAP Operating loss |
$ |
(43,435 |
) |
|
$ |
(149,807 |
) |
Non-GAAP Operating gain (loss) |
$ |
1,912 |
|
|
$ |
(109,860 |
) |
|
|
|
|
||||
GAAP Net loss |
$ |
(65,935 |
) |
|
$ |
(174,101 |
) |
Non-GAAP Net loss |
$ |
(20,666 |
) |
|
$ |
(131,887 |
) |
|
|
|
|
||||
GAAP Net loss per common share - basic and diluted |
$ |
(0.52 |
) |
|
$ |
(1.40 |
) |
Non-GAAP Net loss per common share - basic and diluted |
$ |
(0.16 |
) |
|
$ |
(1.06 |
) |
|
|
|
|
||||
For an explanation of our use of non-GAAP financial measures refer to the “Use of Non-GAAP Financial Measures” section later in this press release and for a reconciliation of each non-GAAP financial measure to the most comparable GAAP measures, see the table at the end of this press release. |
|||||||
Net Product Revenues
|
Three Months Ended
|
|
Year over Year %
|
||||||
(In thousands, except percentages) |
2024 |
|
2023 |
|
As Reported |
|
At CER* |
||
ONPATTRO net product revenues |
$ |
69,217 |
|
$ |
102,493 |
|
(32)% |
|
(33)% |
AMVUTTRA net product revenues |
|
195,241 |
|
|
101,768 |
|
|
|
|
Total TTR net product revenues |
|
264,458 |
|
|
204,261 |
|
|
|
|
|
|
|
|
|
|
|
|
||
GIVLAARI net product revenues |
|
58,056 |
|
|
47,906 |
|
|
|
|
OXLUMO net product revenues |
|
42,649 |
|
|
24,161 |
|
|
|
|
Total Rare net product revenues |
|
100,705 |
|
|
72,067 |
|
|
|
|
|
|
|
|
|
|
|
|
||
Total net product revenues |
$ |
365,163 |
|
$ |
276,328 |
|
|
|
|
|
|
|
|
|
|
|
|
||
* CER = Constant Exchange Rate, representing growth calculated as if the exchange rates had remained unchanged from those used in the first quarter 2023. CER is a Non-GAAP measure. |
|||||||||
-
Total net product revenues increased
32% at both actual currency and CER during the three months ended March 31, 2024, as compared to the same period in 2023, due to strong growth from AMVUTTRA driven by increased patient demand, as well as increased patients on our GIVLAARI and OXLUMO therapies.
Net Revenues from Collaborations
-
Net revenues from collaborations increased
225% during the three months ended March 31, 2024, as compared to the same period in 2023, primarily due to revenue recognized under our collaboration and license agreement with Roche, including$65 million
Operating Expenses
|
Three Months Ended
|
||||||
(In thousands, except percentages) |
|
2024 |
|
|
|
2023 |
|
Cost of goods sold |
$ |
54,613 |
|
|
$ |
41,432 |
|
Cost of goods sold as a percentage of net product revenues |
|
15.0 |
% |
|
|
15.0 |
% |
|
|
|
|
||||
Cost of collaborations and royalties |
$ |
11,363 |
|
|
$ |
13,437 |
|
|
|
|
|
||||
GAAP research and development expenses |
$ |
260,995 |
|
|
$ |
230,569 |
|
Non-GAAP research and development expenses |
$ |
241,780 |
|
|
$ |
214,337 |
|
|
|
|
|
||||
GAAP selling, general and administrative expenses |
$ |
210,797 |
|
|
$ |
183,659 |
|
Non-GAAP selling, general and administrative expenses |
$ |
184,665 |
|
|
$ |
159,944 |
|
|
|
|
|
||||
Cost of Goods Sold
- Cost of goods sold as a percentage of net product revenues was consistent during the three months ended March 31, 2024, as compared to the same period in 2023, primarily due to increased royalties related to higher AMVUTTRA sales volume, partially offset by one-time favorability attributed to reduced ONPATTRO manufacturing cancellation fees.
Research & Development (R&D) Expenses
- GAAP and non-GAAP R&D expenses increased during the three months ended March 31, 2024, as compared to the same period in 2023, primarily due to increased development expenses associated with zilebesiran in the KARDIA-2 and KARDIA-3 clinical studies, increased expenses associated with our HELIOS-B study leading up to the topline data readout in late June or early July 2024, increased costs associated with our preclinical activities, specifically our CNS programs, and increased headcount and infrastructure expenses to support our R&D pipeline.
Selling, General & Administrative (SG&A) Expenses
- GAAP and non-GAAP SG&A expenses increased during the three months ended March 31, 2024, as compared to the same period in 2023, primarily due to increased marketing investment associated with promotion of our TTR therapies and increased headcount and other investments supporting our strategic growth.
Other Financial Highlights
-
Cash, cash equivalents and marketable securities were
$2.37 billion $2.44 billion
A reconciliation of our GAAP to non-GAAP results for the quarter is included in the tables at the end of this press release.
2024 Financial Guidance
Full year 2024 financial guidance is reiterated as follows:
Combined net product revenues for ONPATTRO, AMVUTTRA, GIVLAARI and OXLUMO1 |
|
|
Net Product Revenue Growth vs. 2023 at reported FX rates1 |
|
|
Net Product Revenue Growth vs. 2023 at CER* |
|
|
Net revenues from collaborations and royalties |
|
|
GAAP R&D and SG&A expenses |
|
|
Non-GAAP R&D and SG&A expenses2 |
|
|
|
|
|
1 Uses January 31, 2024 FX rates including: |
||
2 Primarily excludes |
||
*CER = Constant Exchange Rate, representing growth calculated as if the exchange rates had remained unchanged from those used in the twelve months ended December 31, 2023. CER is a Non-GAAP measure. |
||
Use of Non-GAAP Financial Measures
This press release contains non-GAAP financial measures, including expenses adjusted to exclude certain non-cash expenses and non-recurring gains outside the ordinary course of the Company’s business. These measures are not in accordance with, or an alternative to, GAAP, and may be different from non-GAAP financial measures used by other companies.
The items included in GAAP presentations but excluded for purposes of determining non-GAAP financial measures for the periods presented in this press release are stock-based compensation expenses and realized and unrealized losses on marketable equity securities. The Company has excluded the impact of stock-based compensation expense, which may fluctuate from period to period based on factors including the variability associated with performance-based grants for stock options and restricted stock units and changes in the Company’s stock price, which impacts the fair value of these awards. The Company has excluded the impact of the realized and unrealized losses on marketable equity securities because the Company does not believe these adjustments accurately reflect the performance of the Company’s ongoing operations for the period in which such gains or losses are reported, as their sole purpose is to adjust amounts on the balance sheet.
Percentage changes in revenue growth at CER are presented excluding the impact of changes in foreign currency exchange rates for investors to understand the underlying business performance. The current period’s foreign currency revenue values are converted into
The Company believes the presentation of non-GAAP financial measures provides useful information to management and investors regarding the Company’s financial condition and results of operations. When GAAP financial measures are viewed in conjunction with non-GAAP financial measures, investors are provided with a more meaningful understanding of the Company’s ongoing operating performance and are better able to compare the Company’s performance between periods. In addition, these non-GAAP financial measures are among those indicators the Company uses as a basis for evaluating performance, allocating resources and planning and forecasting future periods. Non-GAAP financial measures are not intended to be considered in isolation or as a substitute for GAAP financial measures. A reconciliation between GAAP and non-GAAP measures is provided later in this press release.
Conference Call Information
Management will provide an update on the Company and discuss first quarter 2024 results as well as expectations for the future via conference call on Thursday, May 2, 2024 at 8:30 am ET. To access the call, please register online at https://register.vevent.com/register/BI0abdd195e81a43d9ac0c44fe9d789f86. Participants are requested to register at least 15 minutes before the start of the call. A replay of the call will be available two hours after the call and archived on the same web page for six months.
A live audio webcast of the call will be available on the Investors section of the Company’s website at www.alnylam.com/events. An archived webcast will be available on the Alnylam website approximately two hours after the event.
About ONPATTRO® (patisiran)
ONPATTRO is an RNAi therapeutic that is approved in
About AMVUTTRA® (vutrisiran)
AMVUTTRA® (vutrisiran) is an RNAi therapeutic approved in
About GIVLAARI® (givosiran)
GIVLAARI (givosiran) is an RNAi therapeutic targeting aminolevulinic acid synthase 1 (ALAS1) approved in
About OXLUMO® (lumasiran)
OXLUMO (lumasiran) is an RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1). HAO1 encodes glycolate oxidase (GO). Thus, by silencing HAO1 and depleting the GO enzyme, OXLUMO inhibits production of oxalate – the metabolite that directly contributes to the pathophysiology of PH1. OXLUMO utilizes Alnylam’s Enhanced Stabilization Chemistry (ESC)-GalNAc-conjugate technology, which enables subcutaneous dosing with increased potency and durability and a wide therapeutic index. OXLUMO has received regulatory approvals from the
About LNP Technology
Alnylam has licenses to Arbutus Biopharma lipid nanoparticle (LNP) intellectual property for use in RNAi therapeutic products using LNP technology.
About RNAi
RNAi (RNA interference) is a natural cellular process of gene silencing that represents one of the most promising and rapidly advancing frontiers in biology and drug development today. Its discovery has been heralded as “a major scientific breakthrough that happens once every decade or so,” and was recognized with the award of the 2006 Nobel Prize for Physiology or Medicine. By harnessing the natural biological process of RNAi occurring in our cells, a new class of medicines known as RNAi therapeutics is now a reality. Small interfering RNA (siRNA), the molecules that mediate RNAi and comprise Alnylam’s RNAi therapeutic platform, function upstream of today’s medicines by potently silencing messenger RNA (mRNA) – the genetic precursors – that encode for disease-causing or disease pathway proteins, thus preventing them from being made. This is a revolutionary approach with the potential to transform the care of patients with genetic and other diseases.
About Alnylam Pharmaceuticals
Alnylam Pharmaceuticals (Nasdaq: ALNY) has led the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare and prevalent diseases with unmet need. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach yielding transformative medicines. Since its founding in 2002, Alnylam has led the RNAi Revolution and continues to deliver on a bold vision to turn scientific possibility into reality. Alnylam’s commercial RNAi therapeutic products are ONPATTRO® (patisiran), AMVUTTRA® (vutrisiran), GIVLAARI® (givosiran), OXLUMO® (lumasiran), and Leqvio® (inclisiran), which is being developed and commercialized by Alnylam’s partner, Novartis. Alnylam has a deep pipeline of investigational medicines, including multiple product candidates that are in late-stage development. Alnylam is executing on its “Alnylam P5x25” strategy to deliver transformative medicines in both rare and common diseases benefiting patients around the world through sustainable innovation and exceptional financial performance, resulting in a leading biotech profile. Alnylam is headquartered in
Alnylam Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical statements of fact regarding Alnylam’s expectations, beliefs, goals, plans or prospects including, without limitation, statements regarding Alnylam’s aspiration to become a top-tier biotech company, the potential for Alnylam to identify new potential drug development candidates and advance its research and development programs, Alnylam’s ability to obtain approval for new commercial products or additional indications for its existing commercial products, and Alnylam’s projected commercial and financial performance, including the expected range of net product revenues and net revenues from collaborations and royalties for 2024, the expected range of aggregate annual GAAP and non-GAAP R&D and SG&A expenses for 2024, the expected timing of topline data from the HELIOS-B Phase 3 clinical study, and the planned achievement of its “Alnylam P5x25” strategy, should be considered forward-looking statements. Actual results and future plans may differ materially from those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation, risks and uncertainties relating to: Alnylam’s ability to successfully execute on its “Alnylam P5x25” strategy; Alnylam’s ability to discover and develop novel drug candidates and delivery approaches and successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for Alnylam’s product candidates, including vutrisiran, zilebesiran, and ALN-APP; actions or advice of regulatory agencies and Alnylam’s ability to obtain and maintain regulatory approval for its product candidates, including vutrisiran, as well as favorable pricing and reimbursement; successfully launching, marketing and selling Alnylam’s approved products globally; delays, interruptions or failures in the manufacture and supply of Alnylam’s product candidates or its marketed products; obtaining, maintaining and protecting intellectual property; Alnylam’s ability to successfully expand the approved indications for AMVUTTRA in the future; Alnylam’s ability to manage its growth and operating expenses through disciplined investment in operations and its ability to achieve a self-sustainable financial profile in the future without the need for future equity financing; the direct or indirect impact of the COVID-19 global pandemic or any future pandemic on Alnylam’s business, results of operations and financial condition; Alnylam’s ability to maintain strategic business collaborations; Alnylam’s dependence on third parties for the development and commercialization of certain products, including Roche, Novartis, Sanofi, Regeneron and Vir; the outcome of litigation; the risk of future government investigations; and unexpected expenditures; as well as those risks and uncertainties more fully discussed in the “Risk Factors” filed with Alnylam’s 2023 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), as may be updated from time to time in Alnylam’s subsequent Quarterly Reports on Form 10-Q, and in other filings that Alnylam makes with the SEC. In addition, any forward-looking statements represent Alnylam’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.
This release discusses investigational RNAi therapeutics and uses of previously approved RNAi therapeutics in development and is not intended to convey conclusions about efficacy or safety as to those investigational therapeutics or uses. There is no guarantee that any investigational therapeutics or expanded uses of commercial products will successfully complete clinical development or gain health authority approval.
ALNYLAM PHARMACEUTICALS, INC.
|
|||||||
|
March 31, 2024 |
|
December 31,
|
||||
ASSETS |
(Unaudited) |
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
681,879 |
|
|
$ |
812,688 |
|
Marketable debt securities |
|
1,678,147 |
|
|
|
1,615,516 |
|
Marketable equity securities |
|
11,256 |
|
|
|
11,178 |
|
Accounts receivable, net |
|
321,377 |
|
|
|
327,787 |
|
Inventory |
|
93,988 |
|
|
|
89,146 |
|
Prepaid expenses and other current assets |
|
201,960 |
|
|
|
126,382 |
|
Total current assets |
|
2,988,607 |
|
|
|
2,982,697 |
|
Property, plant and equipment, net |
|
523,460 |
|
|
|
526,057 |
|
Operating lease right-of-use assets |
|
195,468 |
|
|
|
199,732 |
|
Restricted investments |
|
49,390 |
|
|
|
49,391 |
|
Other assets |
|
67,461 |
|
|
|
72,003 |
|
Total assets |
$ |
3,824,386 |
|
|
$ |
3,829,880 |
|
LIABILITIES AND STOCKHOLDERS’ DEFICIT |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
78,148 |
|
|
$ |
55,519 |
|
Accrued expenses |
|
698,865 |
|
|
|
713,013 |
|
Operating lease liability |
|
41,672 |
|
|
|
41,510 |
|
Deferred revenue |
|
76,850 |
|
|
|
102,753 |
|
Liability related to the sale of future royalties |
|
46,174 |
|
|
|
54,991 |
|
Total current liabilities |
|
941,709 |
|
|
|
967,786 |
|
Operating lease liability, net of current portion |
|
237,829 |
|
|
|
243,101 |
|
Deferred revenue, net of current portion |
|
185,506 |
|
|
|
188,175 |
|
Convertible debt |
|
1,021,732 |
|
|
|
1,020,776 |
|
Liability related to the sale of future royalties, net of current portion |
|
1,336,892 |
|
|
|
1,322,248 |
|
Other liabilities |
|
319,990 |
|
|
|
308,438 |
|
Total liabilities |
|
4,043,658 |
|
|
|
4,050,524 |
|
Commitments and contingencies (Note 13) |
|
|
|
||||
Stockholders’ deficit: |
|
|
|
||||
Preferred stock, |
|
— |
|
|
|
— |
|
Common stock, |
|
1,265 |
|
|
|
1,259 |
|
Additional paid-in capital |
|
6,881,977 |
|
|
|
6,811,063 |
|
Accumulated other comprehensive loss |
|
(26,988 |
) |
|
|
(23,375 |
) |
Accumulated deficit |
|
(7,075,526 |
) |
|
|
(7,009,591 |
) |
Total stockholders’ deficit |
|
(219,272 |
) |
|
|
(220,644 |
) |
Total liabilities and stockholders’ deficit |
$ |
3,824,386 |
|
|
$ |
3,829,880 |
|
This selected financial information should be read in conjunction with the consolidated financial statements and notes thereto included in Alnylam’s Annual Report on Form 10-K which includes the audited financial statements for the year ended December 31, 2023.
ALNYLAM PHARMACEUTICALS, INC.
|
|||||||
|
Three Months Ended |
||||||
|
March 31,
|
|
March 31,
|
||||
Statements of Operations |
|
|
|
||||
Revenues: |
|
|
|
||||
Net product revenues |
$ |
365,163 |
|
|
$ |
276,328 |
|
Net revenues from collaborations |
|
118,548 |
|
|
|
36,462 |
|
Royalty revenue |
|
10,622 |
|
|
|
6,500 |
|
Total revenues |
|
494,333 |
|
|
|
319,290 |
|
|
|
|
|
||||
Operating costs and expenses: |
|
|
|
||||
Cost of goods sold |
|
54,613 |
|
|
|
41,432 |
|
Cost of collaborations and royalties |
|
11,363 |
|
|
|
13,437 |
|
Research and development |
|
260,995 |
|
|
|
230,569 |
|
Selling, general and administrative |
|
210,797 |
|
|
|
183,659 |
|
Total operating costs and expenses |
|
537,768 |
|
|
|
469,097 |
|
Loss from operations |
|
(43,435 |
) |
|
|
(149,807 |
) |
Other (expense) income: |
|
|
|
||||
Interest expense |
|
(35,253 |
) |
|
|
(28,955 |
) |
Interest income |
|
29,645 |
|
|
|
18,655 |
|
Other expense, net |
|
(14,544 |
) |
|
|
(12,255 |
) |
Total other expense, net |
|
(20,152 |
) |
|
|
(22,555 |
) |
Loss before income taxes |
|
(63,587 |
) |
|
|
(172,362 |
) |
Provision for income taxes |
|
(2,348 |
) |
|
|
(1,739 |
) |
Net loss |
$ |
(65,935 |
) |
|
$ |
(174,101 |
) |
Net loss per common share - basic and diluted |
$ |
(0.52 |
) |
|
$ |
(1.40 |
) |
Weighted-average common shares used to compute basic and diluted net loss per common share |
|
126,138 |
|
|
|
124,111 |
|
ALNYLAM PHARMACEUTICALS, INC.
|
|||||||
|
Three Months Ended |
||||||
|
March 31,
|
|
March 31,
|
||||
Reconciliation of GAAP to Non-GAAP Research and development: |
|
|
|
||||
GAAP Research and development |
$ |
260,995 |
|
|
$ |
230,569 |
|
Less: Stock-based compensation expenses |
|
(19,215 |
) |
|
|
(16,232 |
) |
Non-GAAP Research and development |
$ |
241,780 |
|
|
$ |
214,337 |
|
|
|
|
|
||||
Reconciliation of GAAP to Non-GAAP Selling, general and administrative: |
|
|
|
||||
GAAP Selling, general and administrative |
$ |
210,797 |
|
|
$ |
183,659 |
|
Less: Stock-based compensation expenses |
|
(26,132 |
) |
|
|
(23,715 |
) |
Non-GAAP Selling, general and administrative |
$ |
184,665 |
|
|
$ |
159,944 |
|
|
|
|
|
||||
Reconciliation of GAAP to Non-GAAP Operating gain (loss): |
|
|
|
||||
GAAP Operating loss |
$ |
(43,435 |
) |
|
$ |
(149,807 |
) |
Add: Stock-based compensation expenses |
|
45,347 |
|
|
|
39,947 |
|
Non-GAAP Operating gain (loss) |
$ |
1,912 |
|
|
$ |
(109,860 |
) |
|
|
|
|
||||
Reconciliation of GAAP to Non-GAAP Other expense, net: |
|
|
|
||||
GAAP Other expense, net |
$ |
(20,152 |
) |
|
$ |
(22,555 |
) |
(Less) Add: Realized and unrealized (gain) loss on marketable equity securities |
|
(78 |
) |
|
|
2,267 |
|
Non-GAAP Other expense, net |
$ |
(20,230 |
) |
|
$ |
(20,288 |
) |
|
|
|
|
||||
Reconciliation of GAAP to Non-GAAP Net loss: |
|
|
|
||||
GAAP Net loss |
$ |
(65,935 |
) |
|
$ |
(174,101 |
) |
Add: Stock-based compensation expenses |
|
45,347 |
|
|
|
39,947 |
|
(Less) Add: Realized and unrealized (gain) loss on marketable equity securities |
|
(78 |
) |
|
|
2,267 |
|
Non-GAAP Net loss |
$ |
(20,666 |
) |
|
$ |
(131,887 |
) |
|
|
|
|
||||
Reconciliation of GAAP to Non-GAAP Net loss per common share- basic and diluted: |
|
|
|
||||
GAAP Net loss per common share - basic and diluted |
$ |
(0.52 |
) |
|
$ |
(1.40 |
) |
Add: Stock-based compensation expenses |
|
0.36 |
|
|
|
0.32 |
|
(Less) Add: Realized and unrealized (gain) loss on marketable equity securities |
|
— |
|
|
|
0.02 |
|
Non-GAAP Net loss per common share - basic and diluted |
$ |
(0.16 |
) |
|
$ |
(1.06 |
) |
Please note that the figures presented above may not sum exactly due to rounding
ALNYLAM PHARMACEUTICALS, INC.
|
|
|
Three Months Ended
|
Total TTR net product revenue growth, as reported |
|
Add: Impact of foreign currency translation |
1 |
Total TTR net product revenue growth at constant currency |
|
|
|
GIVLAARI net product revenue growth, as reported |
|
Add: Impact of foreign currency translation |
— |
GIVLAARI net product revenue growth at constant currency |
|
|
|
OXLUMO net product revenue growth, as reported |
|
Add: Impact of foreign currency translation |
(2) |
OXLUMO net product revenue growth at constant currency |
|
|
|
Total net product revenue growth, as reported |
|
Add: Impact of foreign currency translation |
— |
Total net product revenue growth at constant currency |
|
|
|
Total revenue growth, as reported |
|
Add: Impact of foreign currency translation |
— |
Total revenue growth at constant currency |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502396157/en/
Alnylam Pharmaceuticals, Inc.
Christine Regan Lindenboom
(Investors and Media)
617-682-4340
Josh Brodsky
(Investors)
617-551-8276
Source: Alnylam Pharmaceuticals, Inc.
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