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Mar 31, 2023
Alnylam Q1 2023 Earnings Report
Alnylam experienced strong commercial execution and pipeline advancements.
Key Takeaways
Alnylam Pharmaceuticals reported a 48% year-over-year increase in global net product revenues, reaching $276 million in Q1 2023, driven by the launch of AMVUTTRA and growth in GIVLAARI and OXLUMO therapies. The company also reported positive first-in-human results for an RNAi therapeutic in the CNS.
Achieved Q1 2023 global net product revenues of $276 million, a 48% increase year-over-year.
Total TTR product revenues (ONPATTRO & AMVUTTRA) reached $204.3 million, representing 49% year-over-year growth.
Total Ultra-Rare product revenues (GIVLAARI & OXLUMO) reached $72.1 million, representing 45% year-over-year growth.
Reported positive interim Phase 1 clinical data on ALN-APP for Alzheimer’s Disease, establishing first-ever human translation of RNAi therapeutics in CNS.
Alnylam
Alnylam
Alnylam Revenue by Segment
Revenue by Segment
ONPATTRO Revenue
CapyFin.comGIVLAARI Revenue
CapyFin.comAMVUTTRA Revenue
CapyFin.comOXLUMO Revenue
CapyFin.com Forward Guidance
Alnylam reiterated its full year 2023 financial guidance.
Positive Outlook
- Combined net product revenues for ONPATTRO, AMVUTTRA, GIVLAARI and OXLUMO $1,200 million – $1,285 million
- Net Product Revenue Growth vs. 2022 at reported Fx rates 34% to 44%
- Net Product Revenue Growth vs. 2022 at constant exchange rates 34% to 44%
- Net revenues from collaborations and royalties $100 million – $175 million
- Assumes U.S. sNDA approval of patisiran for ATTR amyloidosis with cardiomyopathy by the PDUFA date on October 8, 2023
Challenges Ahead
- GAAP R&D and SG&A expenses $1,790 million – $1,885 million
- Non-GAAP R&D and SG&A expenses $1,575 million – $1,650 million
- Excludes $215-$235 million of stock-based compensation expense from estimated GAAP R&D and SG&A expenses
- Full year 2023 financial guidance uses December 31, 2022 Fx rates including: 1 EUR = 1.07 USD and 1 USD = 131 JPY
- Combined net product revenues for ONPATTRO, AMVUTTRA, GIVLAARI and OXLUMO1,2 $1,200 million – $1,285 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income