Alnylam Pharmaceuticals Q2 2024 10-Q Filing

Ticker: ALNY · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1178670

Sentiment: neutral

Topics: 10-Q, pharmaceuticals, financials

TL;DR

**ALNY Q2 24 10-Q FILED: Financials out, check revenue streams.**

AI Summary

Alnylam Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance, including product and collaboration revenues. Specific figures for revenue streams and their changes over comparable periods are presented within the report.

Why It Matters

This filing provides investors with a detailed look at Alnylam's financial health and operational performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Alnylam faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

Key Players & Entities

FAQ

What were Alnylam's total product revenues for the three months ended June 30, 2024?

The filing indicates product revenues are detailed for the period, but the specific dollar amount is not present in the header information.

How did Alnylam's collaboration revenues compare between Q2 2024 and Q2 2023?

The filing categorizes collaboration revenues and provides dates for comparison periods, but the exact figures are within the full report.

What is the fiscal year-end for Alnylam Pharmaceuticals, Inc.?

Alnylam Pharmaceuticals, Inc.'s fiscal year ends on December 31.

When was the company formerly known as Alnylam Pharmaceuticals Inc.?

The company's former name was Alnylam Pharmaceuticals Inc. prior to a name change on July 24, 2002.

What is the primary industry classification for Alnylam Pharmaceuticals, Inc.?

Alnylam Pharmaceuticals, Inc. is classified under Pharmaceutical Preparations [2834].

Filing Stats: 4,492 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-01 08:22:58

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

ITEM 1. FINANCIAL STATEMENTS (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS AS OF J UNE 30 , 2024 AND DECEMBER 31, 202 3 5 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE AND SIX MONTHS ENDED JUNE 3 0 , 2024 AND 202 3 6 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE THREE AND SIX MONTHS ENDED JUNE 3 0 , 2024 AND 202 3 7 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 3 0 , 2024 AND 202 3 9 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 10

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 38

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 38

OTHER INFORMATION

PART II. OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 40

RISK FACTORS

ITEM 1A. RISK FACTORS 40

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 75

EXHIBITS

ITEM 6. EXHIBITS 76

SIGNATURES

SIGNATURES 77 "Alnylam," ONPATTRO , AMVUTTRA , GIVLAARI , OXLUMO and IKARIA are trademarks and registered trademarks of Alnylam Pharmaceuticals, Inc. Our logo, trademarks and service marks are property of Alnylam. All other trademarks or service marks appearing in this Quarterly Report on Form 10-Q are the property of their respective holders. 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about: our views with respect to the potential for approved and investigational RNAi therapeutics, including ONPATTRO, AMVUTTRA, GIVLAARI, OXLUMO, Leqvio (inclisiran), fitusiran and zilebesiran; our plans for additional global regulatory filings and the continuing product launches of ONPATTRO, AMVUTTRA, GIVLAARI, OXLUMO and our collaborator's plans with respect to Leqvio and fitusiran; our ability to obtain regulatory approval of AMVUTTRA (vutrisiran) for the treatment of ATTR amyloidosis with cardiomyopathy; our expectations regarding the potential market size for,

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

ITEM 1. FINANCIAL STATEMENTS (Unaudited) ALNYLAM PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 968,492 $ 812,688 Marketable debt securities 1,646,268 1,615,516 Marketable equity securities 9,889 11,178 Accounts receivable, net 309,481 327,787 Inventory 83,981 89,146 Prepaid expenses and other current assets 154,745 126,382 Total current assets 3,172,856 2,982,697 Property, plant and equipment, net 517,159 526,057 Operating lease right-of-use assets 198,303 199,732 Restricted investments 49,391 49,391 Other assets 71,925 72,003 Total assets $ 4,009,634 $ 3,829,880 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 73,980 $ 55,519 Accrued expenses 808,643 713,013 Operating lease liability 41,656 41,510 Deferred revenue 69,009 102,753 Liability related to the sale of future royalties 61,963 54,991 Total current liabilities 1,055,251 967,786 Operating lease liability, net of current portion 239,352 243,101 Deferred revenue, net of current portion 2,402 188,175 Convertible debt 1,022,688 1,020,776 Liability related to the sale of future royalties, net of current portion 1,342,580 1,322,248 Other liabilities 350,428 308,438 Total liabilities 4,012,701 4,050,524 Commitments and contingencies (Note 13) Stockholders' deficit: Preferred stock, $ 0.01 par value per share, 5,000 shares authorized and no shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value per share, 250,000 shares authorized; 128,021 shares issued and outstanding as of June 30, 2024; 125,794 shares issued and outstanding as of December 31, 2023 1,281 1,259 Additional paid-in capital 7,122,704 6,811,063 Accumulated other comprehensive loss ( 34,637 ) ( 23,375 ) Accumulated deficit ( 7,092,415 ) ( 7,009,591 ) Total stockholders' deficit (

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing