Jessica Fye

Paul Matteis

Ritu Baral

Tazeen Ahmad

Eliana Merle

Gary Nachman

Luca Issi

Gena Wang

Huidong Wang

Konstantinos Biliouris

Kostas Biliouris

Michael Ulz

Salveen Richter

David Lebowitz

Ellie Merle

Mani Foroohar

Maurice Raycroft

Maury Raycroft

Teresa Vitali

Theresa Vitelle

Tommie Reerink

*   On **September 30, 2025**, Alnylam Pharmaceuticals, Inc. entered into a new Credit Agreement, establishing a **$500.0 million revolving line of credit** that includes a **$150.0 million letter of credit sublimit**.  **[1178670_0001193125-25-230201_d19737d8k.htm:1]** 
*   The proceeds from this revolving credit facility are intended for **working capital and general corporate purposes**.  **[1178670_0001193125-25-230201_d19737d8k.htm:1]** 
*   The Credit Agreement contains financial covenants, requiring the Company to maintain a Total Net Leverage Ratio less than or equal to **3.75:1.00** and a Consolidated Interest Coverage Ratio greater than or equal to **3.00:1.00**, both of which are tested at the end of each fiscal quarter.  **[1178670_0001193125-25-230201_d19737d8k.htm:1]**

Alnylam Pharmaceuticals, Inc. secures new $500 million revolving credit facility

- Alnylam Pharmaceuticals reported **Q2 2025 global TTR revenue of $544 million**, representing **77% year-over-year growth**, with **$150 million of U.S. growth attributed to the cardiomyopathy (CM) launch**.  **[1178670_2154009_1]** 
- The company upgraded its **2025 TTR franchise revenue guidance** by **more than 30%** at the midpoint, to a range of **$2.175 billion to $2.275 billion**.  **[1178670_2154009_6]** 
- Alnylam is on the **cusp of achieving profitability** and plans to set **new five-year goals** in 2026, focusing on TTR leadership, innovation beyond TTR, and evolving operating margins.  **[1178670_2154009_0]** **[1178670_2154009_13]** 
- The **cardiomyopathy market** is estimated to be **10 times larger** than the hereditary polyneuropathy market, with the company focused on the **first-line treatment opportunity** which is currently **20% treated**.  **[1178670_2154009_1]** **[1178670_2154009_3]**

Alnylam Pharmaceuticals Reports Strong Q2 2025 TTR Revenue Growth and Upgrades Full-Year Guidance

- **Alnylam Pharmaceuticals, Inc.** completed an offering of **$661.25 million** in aggregate principal amount of **0.00% Convertible Senior Notes due 2028** on **September 12, 2025**.  **[1178670_0001193125-25-202366_d949176d8k.htm:1]** 
- The Notes have an initial conversion price of approximately **$670.11 per share**, which represents a **40.0% premium** above the Common Stock's volume weighted average price on September 9, 2025.  **[1178670_0001193125-25-202366_d949176d8k.htm:1]** 
- To reduce potential dilution and/or offset cash payments upon conversion, the company entered into Capped Call Transactions, utilizing **$35.3 million** of the net proceeds from the offering.  **[1178670_0001193125-25-202366_d949176d8k.htm:2]** 
- A maximum of **1,381,483 shares of Common Stock** may be issued upon conversion of the Notes.  **[1178670_0001193125-25-202366_d949176d8k.htm:3]**

Alnylam Pharmaceuticals Completes $661.25 Million Convertible Senior Notes Offering

- Alnylam reported **strong initial results** for the Amvuttra launch in ATTR cardiomyopathy in Q2, leading to a **substantial upgrade in guidance** for the year.  **[1178670_tx_379972_0]**  The company achieved **much quicker revenue uptake** than anticipated due to successful access efforts, including securing most policies for first-line utilization and product formulary placement in nearly all major health systems.  **[1178670_tx_379972_4]** 
- The next-generation drug, **Nucresiran**, is strategically important due to a **zero royalty burden to Sanofi** (compared to 15-30% for Amvuttra) and IP extending into the **2040s**, significantly longer than Amvuttra's 2036-2037 timeframe.  **[1178670_tx_379972_5]**  Phase 3 studies for cardiomyopathy and polyneuropathy are underway, with data expected around **2030** for cardiomyopathy.  **[1178670_tx_379972_5]** 
- Alnylam is developing **Zilbesiran** for hypertension in partnership with Roche, targeting a market of **60 million+ patients** in the seven largest pharma markets.  **[1178670_tx_379972_6]** **[1178670_tx_379972_8]**  Roche is covering approximately **60% of the development costs**, and a large cardiovascular outcome trial is underway with results anticipated around **2030**.  **[1178670_tx_379972_6]** **[1178670_tx_379972_8]**

Alnylam Pharmaceuticals Reports Strong Amvuttra Launch and Pipeline Progress

- Alnylam Pharmaceuticals announced new results from the **Phase 3 HELIOS-B study** of **AMVUTTRA® (vutrisiran)**, an RNAi therapeutic approved for hereditary transthyretin amyloidosis with cardiomyopathy (ATTR-CM).  **[1178670_d8c4f2bfc6d44b27a39bc5dcfd262431_0]** 
- The data, presented at the ESC Congress 2025, demonstrated long-term cardiovascular benefits, including in mortality, cardiovascular events, quality of life, and cardiac biomarkers, observed for up to **48 months**, with **12 months** from an ongoing open-label extension.  **[1178670_d8c4f2bfc6d44b27a39bc5dcfd262431_0]** 
- Vutrisiran, which rapidly reduces transthyretin, **reduced the risk of composite all-cause mortality or first cardiovascular event by 37%** in the overall population and **42%** in the monotherapy group.  **[1178670_d8c4f2bfc6d44b27a39bc5dcfd262431_0]** 
- These findings reinforce vutrisiran's potential as a **first-line treatment** for ATTR-CM.  **[1178670_d8c4f2bfc6d44b27a39bc5dcfd262431_0]**

Alnylam Presents Positive Long-Term Vutrisiran Data for ATTR-CM

ALNYLAM PHARMACEUTICALS (ALNY)