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Mar 31, 2020
Alnylam Q1 2020 Earnings Report
Alnylam reported first quarter results, achieving growth in ONPATTRO and GIVLAARI sales and advancing its pipeline.
Key Takeaways
Alnylam Pharmaceuticals reported its Q1 2020 financial results, demonstrating growth in net product revenues driven by ONPATTRO and GIVLAARI. The company is lowering its 2020 revenue guidance for ONPATTRO by 5 percent due to the COVID-19 pandemic and is taking steps to reduce its expense profile. They also completed a $2 billion strategic financing collaboration with Blackstone.
ONPATTRO net product revenues reached $66.7 million.
GIVLAARI net product revenues reached $5.3 million.
Advanced lumasiran, an investigational RNAi therapeutic in development for the treatment of primary hyperoxaluria type 1 (PH1).
Entered into a broad strategic financing collaboration with Blackstone for up to $2 billion.
Alnylam
Alnylam
Alnylam Revenue by Segment
Revenue by Segment
ONPATTRO Revenue
CapyFin.comGIVLAARI Revenue
CapyFin.com Forward Guidance
Alnylam provided updated financial guidance for full year 2020.
Positive Outlook
- Continue global commercialization of ONPATTRO and GIVLAARI.
- Present full results from the ILLUMINATE-A Phase 3 study of lumasiran at the European Renal Association-European Dialysis and Transplant Association (ERA-EDTA) Congress.
- Report topline results from the ILLUMINATE-B Phase 3 study of lumasiran.
- File a Clinical Trial Application (CTA) for ALN-HSD, an investigational RNAi therapeutic targeting HSD17B13 for the treatment of non-alcoholic steatohepatitis (NASH), in collaboration with Regeneron.
- The $2 billion strategic financing collaboration with Blackstone is expected to enable Alnylam’s achievement of a self-sustainable financial profile without need for future equity financings.
Challenges Ahead
- Lowers 2020 Guidance Range for ONPATTRO Revenue from $285-$315 Million to $270-$300 Million due to COVID-19 Pandemic
- Lowers Operating Expense Guidance
- Enrollment delays in APOLLO-B will result in a shift in the enrollment completion date from late 2020 into 2021.
- It will shift filing of its ALN-LEC IND into 2021 to focus on its COVID-19 investigational RNAi therapeutic program.
- The trajectory of the COVID-19 pandemic is dynamic and remains uncertain in its scope, timeline, and impact to healthcare systems.