10-KPeriod: FY2012

ALNYLAM PHARMACEUTICALS, INC. Annual Report, Year Ended Dec 31, 2012

Filed February 19, 2013For Securities:ALNY

Summary

Alnylam Pharmaceuticals, Inc.'s 2012 10-K filing highlights a company in the early stages of developing novel RNA interference (RNAi) therapeutics. The company's core strategy, "Alnylam 5x15," aims to have five RNAi therapeutic programs in clinical development by the end of 2015. Financially, Alnylam reported a net loss of $106 million for 2012, continuing its trend of losses as it invests heavily in research and development. The company secured significant funding through a public offering in early 2013, raising approximately $173.6 million, which will be used to advance its clinical pipeline. Key partnerships with companies like The Medicines Company (MedCo) and Genzyme are crucial for developing and commercializing its product candidates in specific territories. The company emphasizes its strong intellectual property portfolio and its leading position in RNAi technology. Despite the significant risks associated with early-stage drug development and the competitive landscape, Alnylam appears to be strategically positioning itself for future growth by focusing on high unmet medical needs and leveraging its platform technology.

Financial Highlights

40 data points
Beta

Net Income

-$106.01M

EPS (Diluted)

$-2.11

Total Assets

$287.52M

Cash & Equivalents

$51.41M

Free Cash Flow

-$123.96M

Financial Statements
Beta
R&D Expenses$86.57M
Operating Expenses$196.18M
Operating Income-$129.46M
Net Income-$106.01M
EPS (Basic)$-2.11
Shares Outstanding (Basic)50.29M

Key Highlights

  • 1Alnylam is a biopharmaceutical company focused on developing RNAi therapeutics, with a strategy to have five programs in clinical development by the end of 2015.
  • 2The company reported a net loss of $106 million for the year ended December 31, 2012, reflecting ongoing investment in R&D.
  • 3Alnylam raised approximately $173.6 million in net proceeds from a public stock offering in January 2013 to fund its pipeline and operations.
  • 4Strategic alliances are critical to Alnylam's business, with notable recent agreements including a global alliance with The Medicines Company (MedCo) for ALN-PCS and an expanded collaboration with Genzyme for ALN-TTR.
  • 5The company's most advanced programs include ALN-TTR (transthyretin-mediated amyloidosis), ALN-AT3 (hemophilia), ALN-AS1 (acute intermittent porphyria), ALN-PCS (hypercholesterolemia), and ALN-TMP (hemoglobinopathies).
  • 6Alnylam possesses a strong and extensive intellectual property portfolio related to RNAi therapeutics and delivery technologies, which it believes provides a leading position in the field.
  • 7The company experienced a significant charge of $65 million in 2012 related to the restructuring of its license agreement with Tekmira.

Frequently Asked Questions

Alnylam Pharmaceuticals is a biopharmaceutical company developing novel therapeutics based on RNA interference (RNAi), a naturally occurring biological pathway for selectively silencing gene expression. Their strategy focuses on targeting genetically defined diseases with high unmet medical needs.

Alnylam's key product candidates include ALN-TTR for transthyretin-mediated amyloidosis (ATTR), ALN-AT3 for hemophilia and rare bleeding disorders, ALN-AS1 for acute intermittent porphyria (AIP), ALN-PCS for hypercholesterolemia, and ALN-TMP for hemoglobinopathies. They also have partner-based programs like ALN-RSV01 for RSV infection and ALN-VSP for liver cancer.

Alnylam primarily funds its operations through strategic alliances and collaborations with pharmaceutical companies, government contracts, and proceeds from equity financings. A significant public offering in January 2013 provided substantial capital to advance its clinical pipeline.

Key risks include the unproven nature of RNAi therapeutics, the early-stage clinical development of its product candidates, the need for substantial additional funding, dependence on third-party collaborators, potential intellectual property challenges, and the highly competitive pharmaceutical market.