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Dec 31, 2023
Alnylam Q4 2023 Earnings Report
Alnylam reported strong Q4 and full-year 2023 results, driven by robust product revenue growth and strategic partnerships.
Key Takeaways
Alnylam Pharmaceuticals reported a 32% increase in net product revenues for the fourth quarter of 2023, reaching $346 million. The company's GAAP net loss was $(137.87) million, or $(1.10) per share. They also provided financial guidance for 2024, projecting combined net product revenues between $1.4 billion and $1.5 billion.
Global net product revenues reached $346 million in Q4 2023, a 39% increase compared to 2022.
Updated statistical analysis plan and timing announced for HELIOS-B Phase 3 study of vutrisiran.
U.S. FDA clearance received to initiate multiple-dosing in ALN-APP Phase 1 study.
2024 combined net product revenue guidance provided, projecting $1.4 billion to $1.5 billion.
Revenue by Segment
Forward Guidance
Alnylam provided full year 2024 financial guidance, including combined net product revenues for AMVUTTRA, ONPATTRO, GIVLAARI and OXLUMO, net revenues from collaborations and royalties, and GAAP and non-GAAP R&D and SG&A expenses.
Positive Outlook
- Combined net product revenues for AMVUTTRA, ONPATTRO, GIVLAARI and OXLUMO are expected to be $1,400 million – $1,500 million
- Net Product Revenue Growth vs. 2023 at reported Fx rates is expected to be 13% – 21%
- Net Product Revenue Growth vs. 2023 at constant exchange rates is expected to be 13% – 21%
- Net revenues from collaborations and royalties are expected to be $325 million – $425 million
- Initiate a Phase 1 study of ALN-BCAT expected in early 2024
Challenges Ahead
- GAAP R&D and SG&A expenses are projected to be $1,900 million - $2,050 million
- Non-GAAP R&D and SG&A expenses are projected to be $1,675 million – $1,775 million
- Topline results from the HELIOS-B Phase 3 study of vutrisiran are expected in late June or early July.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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