ALNYLAM PHARMACEUTICALS (ALNY) Company Report

Alnylam Pharmaceuticals achieved nearly $3 billion in combined net product revenues in 2025, marking an 81% growth compared to 2024, and reached GAAP profitability for the full year.
For 2026, the company projects combined net product sales to be between $4.9 billion and $5.3 billion, representing 71% growth at the midpoint compared to 2025, primarily driven by the TTR franchise.
Key strategic advancements in 2025 included the initiation of 3 Phase 3 studies (zilebesiran and nucresiran), the expansion of the clinical pipeline with 4 new proprietary programs, and the launch of the Syrelis manufacturing platform.
The AMVUTTRA launch for ATTR cardiomyopathy demonstrated strong early momentum, contributing to Q4 2025 global TTR net revenues of $858 million, a 151% growth year-over-year, with over 90% of payers now providing first-line coverage.

4 days ago

Transcript

Alnylam Pharmaceuticals Reports Strong Q4 and Full Year 2025 Results, Issues 2026 Guidance

ALNY

Earnings

Guidance Update

Revenue Acceleration/Inflection

Alnylam Pharmaceuticals reported nearly $3 billion in combined net product revenues for full year 2025, an 81% growth compared to 2024, and achieved GAAP profitability for the full year, with expectations to sustain it going forward.
In Q4 2025, combined net product revenues reached $995 million, marking 121% growth year-over-year and 17% growth versus the prior quarter.
The company provided 2026 guidance for combined net product sales between $4.9 billion and $5.3 billion, representing 71% growth at the midpoint compared to 2025. Collaboration and royalty revenue is projected to be $400 million-$500 million, a 38% decrease at the midpoint due to a non-recurring 2025 milestone.
Alnylam outlined its "Alnylam 2030" goals, aiming for over 25% revenue CAGR through 2030 and a non-GAAP operating margin of approximately 30% across the period.

4 days ago

Transcript

Alnylam Pharmaceuticals Reports Strong Q4 and Full-Year 2025 Results, Issues Positive 2026 Guidance

ALNY

Earnings

Guidance Update

Revenue Acceleration/Inflection

Alnylam Pharmaceuticals reported full-year 2025 combined net product revenues of $2,987 million, an 81% year-over-year increase, and achieved GAAP Profitability.
For Q4 2025, combined net product revenues reached $995 million, demonstrating 121% year-over-year growth, with a non-GAAP operating income of $203 million and a 19% non-GAAP operating margin.
The company issued 2026 full-year guidance, forecasting total net product revenues between $4,900 million and $5,300 million, representing 64% to 77% growth over 2025.
Alnylam ended Q4 2025 with $2,908 million in cash, cash equivalents, and marketable securities.
As part of its Alnylam 2030 strategy, the company aims for a 25%+ total revenue CAGR through YE 2030 and a ~30% non-GAAP operating margin, supported by a pipeline of over 25 active clinical programs.

4 days ago

Presentation

Alnylam Pharmaceuticals Reports Strong 2025 Results, Achieves Profitability, and Provides Robust 2026 Guidance

ALNY

Earnings

Guidance Update

Product Launch

Alnylam Pharmaceuticals reported nearly $3 billion in combined net product revenues for full-year 2025, an 81% increase over 2024, primarily driven by the successful launch of AMVUTTRA for ATTR cardiomyopathy, and achieved GAAP profitability for the full year.
For Q4 2025, combined net product revenues reached $995 million, demonstrating 121% year-over-year growth and 17% sequential growth.
The company issued strong 2026 guidance, anticipating combined net product sales between $4.9 billion and $5.3 billion, representing 71% growth at the midpoint compared to 2025.
Alnylam initiated three Phase 3 studies in 2025 and expanded its clinical pipeline to over 25 programs, while also launching the Syrelis manufacturing platform.
Long-term Alnylam 2030 goals include achieving over 25% revenue CAGR and approximately 30% non-GAAP operating margin through 2030, with aspirations for global TTR leadership and additional blockbuster medicines.

4 days ago

Transcript

Alnylam Pharmaceuticals Reports Strong Q4 and Full Year 2025 Results, Achieves Profitability, and Issues 2026 Guidance

ALNY

Earnings

Guidance Update

Revenue Acceleration/Inflection

Alnylam Pharmaceuticals reported global net product revenues of $995 million for Q4 2025 and $2,987 million for Full Year 2025, representing 121% and 81% growth respectively compared to the same periods in 2024.
The company achieved GAAP and non-GAAP profitability for Full Year 2025, with sustainable growth in operating income expected.
Alnylam announced 2026 financial guidance, projecting total net product revenues between $4,900 million and $5,300 million and non-GAAP R&D and SG&A expenses between $2,700 million and $2,800 million.
Cash, cash equivalents, and marketable securities increased to $2.91 billion as of December 31, 2025, up from $2.69 billion as of December 31, 2024, primarily due to improved operating performance.

4 days ago

8-K

Alnylam Pharmaceuticals Reports Strong Q4 and Full Year 2025 Financial Results and Provides 2026 Guidance

ALNY

Earnings

Guidance Update

New Projects/Investments

Alnylam Pharmaceuticals reported global net product revenues of $995 million for Q4 2025, a 121% increase compared to Q4 2024, and $2,987 million for full year 2025, an 81% increase compared to full year 2024.
The company achieved GAAP net income of $313,747 thousand and non-GAAP net income of $683,644 thousand for Full Year 2025, marking its first year of GAAP and non-GAAP profitability.
Alnylam provided full-year 2026 guidance for total net product revenues between $4,900 million and $5,300 million, representing 64% to 77% growth over 2025.
The company announced 2026 pipeline goals including 4 clinical readouts, 3 ongoing pivotal studies, 3 Phase 2 study initiations, and 3+ new IND filings, and plans a $250 million investment to expand its manufacturing facility.

4 days ago

Press Release

Alnylam Outlines Ambitious 2030 Growth Strategy and Reports Strong 2025 Financials

ALNY

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Alnylam exceeded its P5x25 goals by the end of 2025, reporting nearly $3 billion in combined net product revenues, an 81% year-over-year growth, largely due to the landmark approval and launch of Amvuttra for ATTR cardiomyopathy.
The company projects 2026 net product revenue guidance of $4.9 billion to $5.3 billion, with the TTR franchise expected to contribute $4.4 billion to $4.7 billion, representing 83% growth at the midpoint.
Alnylam unveiled its Alnylam 2030 goals, targeting 25% or greater total revenue CAGR through 2030, approximately 30% Non-GAAP operating margin, and global TTR leadership.
Key to the 2030 strategy is the launch of Nucresiran, a next-generation TTR silencer, in polyneuropathy by 2028 and cardiomyopathy by 2030, alongside expanding the pipeline to over 40 clinical programs across 10 tissue types.

Jan 12, 2026, 5:00 PM

Transcript

Alnylam Reports Strong 2025 Results and Outlines Ambitious 2030 Growth Strategy

ALNY

Guidance Update

Revenue Acceleration/Inflection

Product Launch

Alnylam reported nearly $3 billion in combined net product revenues for 2025, representing an 81% year-over-year growth, and is on track for Non-GAAP profitability.
The company provided 2026 net product revenue guidance of $4.9 to $5.3 billion, with the TTR franchise expected to contribute $4.4-$4.7 billion, indicating 83% growth at the midpoint.
Alnylam announced ambitious Alnylam 2030 goals, including aspiring to generate well over $10 billion in annual revenues, a 25% or greater total revenue CAGR, and approximately 30% Non-GAAP operating margin by the end of 2030.
Key pipeline developments include the planned launch of Nucresiran, a next-generation TTR silencer, in polyneuropathy by 2028 and cardiomyopathy by 2030, offering 95% knockdown and biannual dosing.

Jan 12, 2026, 5:00 PM

Transcript

Alnylam Reports Strong 2025 Performance and Outlines Ambitious 2030 Growth Strategy

ALNY

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Alnylam announced nearly $3 billion in combined net product revenues for 2025, representing an 81% year-over-year growth, with the TTR franchise contributing $2.5 billion.
The company provided 2026 net product revenue guidance of $4.9 to $5.3 billion, projecting 83% growth at the midpoint for the TTR franchise to $4.4-$4.7 billion.
Alnylam unveiled new "Alnylam 2030" goals, targeting over $10 billion in annual revenues by 2030, a 25% or greater total revenue CAGR, and an approximately 30% non-GAAP operating margin through 2030.
Key strategic initiatives include the planned launch of Nucresiran, a next-generation TTR silencer, in polyneuropathy by 2028 and cardiomyopathy by 2030, alongside expanding the clinical pipeline to over 40 programs across 10 tissue types.

Jan 12, 2026, 5:00 PM

Transcript

Alnylam Pharmaceuticals Announces "Alnylam 2030" Strategy and Provides 2025 Preliminary Results and 2026 Guidance

ALNY

Earnings

Guidance Update

New Projects/Investments

Alnylam Pharmaceuticals launched its new five-year "Alnylam 2030" strategy on January 11, 2026, aiming for global TTR leadership, 25%+ total revenue CAGR through 2030, and approximately 30% non-GAAP operating margin.
The company reported preliminary full year 2025 net product revenues of $2,987 million, reflecting 81% growth over 2024, with total TTR revenues reaching $2,487 million.
For full year 2026, Alnylam provided combined net product revenue guidance of $4,900 million to $5,300 million, representing 71% growth compared to 2025 at the mid-point.
2026 pipeline goals include advancing Phase 3 trials for nucresiran and zilebesiran, completing enrollment for mivelsiran's Phase 2 trial in cerebral amyloid angiopathy, and initiating a Phase 2 trial for ALN-4324 in type 2 diabetes mellitus.

Jan 12, 2026, 12:30 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for ALNYLAM PHARMACEUTICALS.

Q4 2025

Feb 12, 2026

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Q3 2025

Oct 30, 2025

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Q2 2025

Jul 31, 2025

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