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Mar 31
Alnylam Q1 2025 Earnings Report
Alnylam reported strong Q1 performance with record product revenue growth and two FDA approvals.
Key Takeaways
Alnylam posted $594M in total revenue in Q1 2025, supported by robust growth in AMVUTTRA and new regulatory approvals. The company reported a narrower net loss and strong commercial momentum for its ATTR-CM therapy.
Achieved total revenue of $594.2M, driven by 28% growth in net product sales
FDA approved AMVUTTRA for ATTR-CM and Qfitlia for hemophilia, both launched in Q1
Net loss narrowed to $57.5M from $65.9M year-over-year
Reaffirmed 2025 guidance with $2.05B–$2.25B net product revenue outlook
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 reaffirmed its FY25 guidance, projecting continued momentum from recent drug approvals and product expansion in global markets.
Positive Outlook
- FY25 total net product revenues expected between $2.05B–$2.25B
- TTR franchise forecasted to deliver $1.6B–$1.725B
- Rare disease products expected to bring in $450M–$525M
- Anticipates up to $750M from collaborations and royalties
- Targeting non-GAAP profitability for the full year
Challenges Ahead
- Lower collaboration revenue YoY due to non-recurring milestone from Roche in 2024
- Net loss continues, albeit narrowed
- High R&D spend to support clinical expansion
- Ongoing cash burn with $118M used in operations in Q1
- Potential dependency on regulatory approvals for future revenue growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income