Alnylam Pharmaceuticals (ALNY) Research

Forward Estimates

EPS Estimates

Current Qtr

$2.17

$1.65$3.49

vs $0.32+576.7%

14 analysts

Next Qtr

$2.46

$1.53$3.74

vs $2.90-15.1%

14 analysts

Current Yr

$9.51

$7.94$13.00

vs $5.08+87.2%

17 analysts

Next Yr

$13.90

$11.10$18.21

vs $9.51+46.1%

17 analysts

Revenue Estimates

Current Qtr

$1.32B

$1.22B$1.42B

vs $773.69M+70.8%

22 analysts

Next Qtr

$1.48B

$1.37B$1.66B

vs $1.25B+18.5%

22 analysts

Current Yr

$5.61B

$5.23B$6.12B

vs $3.71B+51.1%

27 analysts

Next Yr

$7.30B

$6.70B$9.02B

vs $5.61B+30.1%

26 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for ALNY on EDGAR.

ALNY filing events and research context
Filed	Item	Context
Apr 30, 2026	mda_quarterly	Alnylam achieved profitability in 2025, with Q1 2026 total revenues reaching $1.17 billion, a 96% increase year-over-year. Growth was primarily driven by AMVUTTRA, which generated $890 million in Q1 following regulatory approvals for ATTR cardiomyopathy (ATTR-CM) in the U.S. and EU. While AMVUTTRA drives top-line growth, tiered royalties paid to Sanofi—reaching up to 30% of net sales—have increased cost of goods sold to 20% of product revenues. To improve margins, Alnylam is advancing nucresiran, a next-generation TTR silencer in Phase 3 (TRITON-PN and TRITON-CM), which carries no royalty obligations. Other key pipeline catalysts include the Phase 3 ZENITH trial for zilebesiran in hypertension, partnered with Roche, and the NDA submission for cemdisiran in myasthenia gravis, partnered with Regeneron. The company is executing its "Alnylam 2030" strategy, targeting a 25%+ revenue CAGR and expansion into 10 tissue types. Recent financing activities include the issuance of $661.3 million in 0.00% convertible senior notes due 2028 and the repurchase of approximately $672 million of 2027 notes. A $500 million revolving credit facility provides additional liquidity to support ongoing R&D and commercial launches.
Feb 12, 2026	business	Alnylam Pharmaceuticals is a commercial-stage biopharmaceutical company pioneering RNAi therapeutics to silence disease-causing proteins. The company’s portfolio includes six approved products: AMVUTTRA and ONPATTRO for ATTR amyloidosis, GIVLAARI for acute hepatic porphyria, and OXLUMO for primary hyperoxaluria type 1, alongside collaborator-led products Leqvio (hypercholesterolemia) and Qfitlia (hemophilia). Under its "Alnylam 2030" strategy, the company targets a 25%+ revenue CAGR and global TTR leadership, driven by the next-generation silencer nucresiran. Key pipeline growth drivers include zilebesiran for hypertension, developed with Roche, and mivelsiran for Alzheimer’s disease and cerebral amyloid angiopathy. Alnylam leverages proprietary delivery technologies, including GalNAc for hepatic targeting and C16 for CNS and ocular delivery. Financial liquidity is maintained through a $500 million revolving credit facility and recent convertible senior note issuances. The company faces intense competition from antisense and gene therapy developers, such as Ionis and Intellia, and is exposed to significant regulatory and pricing risks, specifically regarding the Inflation Reduction Act (IRA) and evolving government reimbursement frameworks in the U.S. and EU.
Feb 12, 2026	risk_factors	Alnylam’s financial stability is heavily contingent on the sustained growth of AMVUTTRA for ATTR amyloidosis with cardiomyopathy (ATTR-CM). Despite achieving profitability in 2025, the company carries a $6.7 billion accumulated deficit and requires substantial funding to execute its Alnylam 2030 strategy. Significant revenue risks include a dependence on royalties from Novartis (Leqvio) and Sanofi (Qfitlia), alongside potential generic entry via Paragraph IV certifications. The company faces intense competition in the ATTR-CM market from Pfizer’s VYNDAQEL/VYNDAMAX and BridgeBio’s ATTRUBY, both of which offer lower-cost oral alternatives to AMVUTTRA’s subcutaneous injection. Operational risks center on a reliance on third-party CMOs for manufacturing, though internal capacity is expanding at the Norton facility. Regulatory headwinds include the Inflation Reduction Act’s pricing mandates, the BIOSECURE Act’s restrictions on Chinese biotechnology partners, and a U.S. Attorney’s Office subpoena regarding government price reporting for AMVUTTRA, ONPATTRO, GIVLAARI, and OXLUMO. Furthermore, Alnylam remains exposed to intellectual property volatility, evidenced by ongoing patent litigation with the University of Texas and challenges to its RNAi portfolio. Failure to secure favorable reimbursement from third-party payors or maintain patent exclusivity could materially impair future operating results.

Filed

Item

Context

Apr 30, 2026

mda_quarterly

Alnylam achieved profitability in 2025, with Q1 2026 total revenues reaching $1.17 billion, a 96% increase year-over-year. Growth was primarily driven by AMVUTTRA, which generated $890 million in Q1 following regulatory approvals for ATTR cardiomyopathy (ATTR-CM) in the U.S. and EU. While AMVUTTRA drives top-line growth, tiered royalties paid to Sanofi—reaching up to 30% of net sales—have increased cost of goods sold to 20% of product revenues. To improve margins, Alnylam is advancing nucresiran, a next-generation TTR silencer in Phase 3 (TRITON-PN and TRITON-CM), which carries no royalty obligations. Other key pipeline catalysts include the Phase 3 ZENITH trial for zilebesiran in hypertension, partnered with Roche, and the NDA submission for cemdisiran in myasthenia gravis, partnered with Regeneron. The company is executing its "Alnylam 2030" strategy, targeting a 25%+ revenue CAGR and expansion into 10 tissue types. Recent financing activities include the issuance of $661.3 million in 0.00% convertible senior notes due 2028 and the repurchase of approximately $672 million of 2027 notes. A $500 million revolving credit facility provides additional liquidity to support ongoing R&D and commercial launches.

Feb 12, 2026

business

Alnylam Pharmaceuticals is a commercial-stage biopharmaceutical company pioneering RNAi therapeutics to silence disease-causing proteins. The company’s portfolio includes six approved products: AMVUTTRA and ONPATTRO for ATTR amyloidosis, GIVLAARI for acute hepatic porphyria, and OXLUMO for primary hyperoxaluria type 1, alongside collaborator-led products Leqvio (hypercholesterolemia) and Qfitlia (hemophilia). Under its "Alnylam 2030" strategy, the company targets a 25%+ revenue CAGR and global TTR leadership, driven by the next-generation silencer nucresiran. Key pipeline growth drivers include zilebesiran for hypertension, developed with Roche, and mivelsiran for Alzheimer’s disease and cerebral amyloid angiopathy. Alnylam leverages proprietary delivery technologies, including GalNAc for hepatic targeting and C16 for CNS and ocular delivery. Financial liquidity is maintained through a $500 million revolving credit facility and recent convertible senior note issuances. The company faces intense competition from antisense and gene therapy developers, such as Ionis and Intellia, and is exposed to significant regulatory and pricing risks, specifically regarding the Inflation Reduction Act (IRA) and evolving government reimbursement frameworks in the U.S. and EU.

Feb 12, 2026

risk_factors

Alnylam’s financial stability is heavily contingent on the sustained growth of AMVUTTRA for ATTR amyloidosis with cardiomyopathy (ATTR-CM). Despite achieving profitability in 2025, the company carries a $6.7 billion accumulated deficit and requires substantial funding to execute its Alnylam 2030 strategy. Significant revenue risks include a dependence on royalties from Novartis (Leqvio) and Sanofi (Qfitlia), alongside potential generic entry via Paragraph IV certifications. The company faces intense competition in the ATTR-CM market from Pfizer’s VYNDAQEL/VYNDAMAX and BridgeBio’s ATTRUBY, both of which offer lower-cost oral alternatives to AMVUTTRA’s subcutaneous injection. Operational risks center on a reliance on third-party CMOs for manufacturing, though internal capacity is expanding at the Norton facility. Regulatory headwinds include the Inflation Reduction Act’s pricing mandates, the BIOSECURE Act’s restrictions on Chinese biotechnology partners, and a U.S. Attorney’s Office subpoena regarding government price reporting for AMVUTTRA, ONPATTRO, GIVLAARI, and OXLUMO. Furthermore, Alnylam remains exposed to intellectual property volatility, evidenced by ongoing patent litigation with the University of Texas and challenges to its RNAi portfolio. Failure to secure favorable reimbursement from third-party payors or maintain patent exclusivity could materially impair future operating results.

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ALNY filing events and research context

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