Summary
Alnylam Pharmaceuticals, Inc. reported solid top-line growth for the first quarter of 2025, with total revenues increasing by 20% year-over-year to $594.2 million. This growth was primarily driven by a significant 28% increase in net product revenues, reaching $468.5 million, largely due to strong performance from AMVUTTRA, which saw a 59% increase in total sales across regions. ONPATTRO's sales declined by 29%, attributed to patient switching to AMVUTTRA. While collaboration revenues decreased by 16% mainly due to a large milestone payment received in the prior year from the Roche collaboration, royalty revenue saw a substantial 149% increase, driven by higher royalties from Leqvio. The company narrowed its net loss to $57.5 million from $65.9 million in the prior year's first quarter, indicating progress towards profitability, although significant R&D and SG&A expenses continue to weigh on the bottom line. The company ended the quarter with a robust cash and cash equivalents balance of over $1 billion, providing ample liquidity.
Financial Highlights
47 data points| Revenue | $594.19M |
| Cost of Revenue | $70.18M |
| Gross Profit | $524.01M |
| R&D Expenses | $265.12M |
| SG&A Expenses | $239.95M |
| Operating Expenses | $576.11M |
| Operating Income | $18.08M |
| Net Income | -$18.25M |
| EPS (Basic) | $-0.14 |
| EPS (Diluted) | $-0.14 |
| Shares Outstanding (Basic) | 129.68M |
| Shares Outstanding (Diluted) | 129.68M |
Key Highlights
- 1Total revenues grew 20% year-over-year to $594.2 million.
- 2Net product revenues increased 28% to $468.5 million, led by strong AMVUTTRA growth.
- 3AMVUTTRA sales surged 59%, while ONPATTRO sales decreased 29%.
- 4Royalty revenue saw a significant 149% increase, primarily from Leqvio sales.
- 5Net loss narrowed to $57.5 million from $65.9 million in the prior year's quarter.
- 6Cash and cash equivalents stood at $1.02 billion as of March 31, 2025, indicating strong liquidity.
- 7Research and development expenses increased 2% to $265.1 million, with SG&A expenses rising 14% to $240.0 million, reflecting continued investment in pipeline advancement and commercial infrastructure.