Alnylam Pharmaceuticals Q3 2024 Update
Ticker: ALNY · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1178670
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals, revenue
TL;DR
Alnylam's Q3 2024 10-Q is in, showing revenue trends vs. last year. Check it for the latest numbers.
AI Summary
Alnylam Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance, including product and collaboration revenues, for the third quarter and the first nine months of 2024, compared to the same periods in 2023. Specific revenue figures and operational updates are provided within the report.
Why It Matters
This filing provides investors with a crucial update on Alnylam's financial health and operational progress, impacting investment decisions and market valuation.
Risk Assessment
Risk Level: medium — The company operates in the highly regulated and competitive pharmaceutical industry, facing risks related to drug development, clinical trials, and market adoption.
Key Numbers
- 2024-09-30 — Period End Date (Financial reporting period)
- 2024-01-01 — Period Start Date (Financial reporting period)
- 2023-09-30 — Prior Year Period End Date (Comparison period)
- 2023-01-01 — Prior Year Period Start Date (Comparison period)
Key Players & Entities
- ALNYLAM PHARMACEUTICALS, INC. (company) — Filer
- 20240930 (date) — Period of Report
- 20241031 (date) — Filing Date
- CAMBRIDGE (location) — Business Address City
- MA (location) — Business Address State
- 02142 (location) — Business Address Zip
FAQ
What were Alnylam's product revenues for the third quarter of 2024?
The filing indicates product revenues for the period July 1, 2024 to September 30, 2024, but the specific dollar amount is not provided in the excerpt.
How did collaboration revenues in Q3 2024 compare to Q3 2023?
The filing covers the periods July 1, 2024 to September 30, 2024, and July 1, 2023 to September 30, 2023, for collaboration revenues, but specific figures are not detailed in the provided text.
What is Alnylam Pharmaceuticals' primary business classification?
Alnylam Pharmaceuticals, Inc. is classified under Pharmaceutical Preparations [2834].
When is Alnylam Pharmaceuticals' fiscal year end?
Alnylam Pharmaceuticals' fiscal year ends on December 31.
What is the filing date for this 10-Q report?
This 10-Q report was filed on October 31, 2024.
Filing Stats: 4,475 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-10-31 08:22:09
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value per share ALNY The Nasdaq Sto
Filing Documents
- alny-20240930.htm (10-Q) — 1973KB
- alny2024q310-qex101.htm (EX-10.1) — 23KB
- alny2024q310-qex311.htm (EX-31.1) — 9KB
- alny2024q310-qex312.htm (EX-31.2) — 9KB
- alny2024q310-qex321.htm (EX-32.1) — 4KB
- alny2024q310-qex322.htm (EX-32.2) — 4KB
- alny-20240930_g1.jpg (GRAPHIC) — 428KB
- 0001178670-24-000053.txt ( ) — 9382KB
- alny-20240930.xsd (EX-101.SCH) — 56KB
- alny-20240930_cal.xml (EX-101.CAL) — 67KB
- alny-20240930_def.xml (EX-101.DEF) — 261KB
- alny-20240930_lab.xml (EX-101.LAB) — 598KB
- alny-20240930_pre.xml (EX-101.PRE) — 440KB
- alny-20240930_htm.xml (XML) — 1389KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS (Unaudited)
ITEM 1. FINANCIAL STATEMENTS (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEETS AS OF S EPTEMBER 30, 2024 AND DECEMBER 31, 202 3 5 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE ( LOSS ) INCOME FOR THE THREE AND NINE MONTHS ENDED SE PTEMBER 30, 2024 AND 202 3 6 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY ( DEFICIT ) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 202 3 7 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SE PTEMBER 30, 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 28
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 39
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 collaborators' 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,099,920 $ 812,688 Marketable debt securities 1,671,993 1,615,516 Marketable equity securities 8,322 11,178 Accounts receivable, net 353,852 327,787 Inventory 75,987 89,146 Prepaid expenses and other current assets 145,350 126,382 Total current assets 3,355,424 2,982,697 Property, plant and equipment, net 506,997 526,057 Operating lease right-of-use assets 196,408 199,732 Restricted investments 68,592 49,391 Other assets 77,618 72,003 Total assets $ 4,205,039 $ 3,829,880 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 70,805 $ 55,519 Accrued expenses 946,168 713,013 Operating lease liability 42,144 41,510 Deferred revenue 71,030 102,753 Liability related to the sale of future royalties 90,516 54,991 Total current liabilities 1,220,663 967,786 Operating lease liability, net of current portion 236,030 243,101 Deferred revenue, net of current portion 1,012 188,175 Convertible debt 1,023,654 1,020,776 Liability related to the sale of future royalties, net of current portion 1,333,849 1,322,248 Other liabilities 357,477 308,438 Total liabilities 4,172,685 4,050,524 Commitments and contingencies (Note 13) Stockholders' equity (deficit): Preferred stock, $ 0.01 par value per share, 5,000 shares authorized and no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value per share, 250,000 shares authorized; 128,841 shares issued and outstanding as of September 30, 2024; 125,794 shares issued and outstanding as of December 31, 2023 1,289 1,259 Additional paid-in capital 7,259,876 6,811,063 Accumulated other comprehensive loss ( 24,826 ) ( 23,375 ) Accumulated deficit ( 7,203,985 ) ( 7,009,