Alnylam Pharmaceuticals Earnings
Alnylam Pharmaceuticals, Inc. has unveiled its financial results for the fourth quarter of 2024, marking notable accomplishments in revenue growth and strategic progress. The company's global net product revenues for Q4 2024 reached $451 million, illustrating a comprehensive year-over-year increase of 30%. Over the full fiscal year 2024, Alnylam achieved total revenues of $1.646 billion, showcasing a robust 33% increase from the previous year.
Financial Performance Summary
The table below summarizes key financial metrics for Alnylam Pharmaceuticals:
| Metric | Q4 2024 | YoY Change | FY 2024 | YoY Change |
|---|---|---|---|---|
| Global Net Product Revenues | $451 million | +30% | $1,646 million | +33% |
Alnylam Pharmaceuticals Results
Alnylam's financial performance in Q4 2024 and for the entire fiscal year 2024 underscores a strategic alignment in leveraging its RNAi platform and emphasizing robust product demand across its diverse therapeutics portfolio. Despite not providing EPS and consensus estimates, the significant revenue increases highlight effective execution of market strategies and sustained demand for the company's innovative treatments.
Revenue Breakdown
A detailed analysis of revenue performance across Alnylam's primary segments reveals key growth drivers.
Revenue Performance by Segment
| Segment | Q4 2024 Revenue | YoY Change | FY 2024 Revenue | YoY Change |
|---|---|---|---|---|
| TTR Programs (ONPATTRO & AMVUTTRA) | $343 million | +35% | $1,223 million | +34% |
| Rare Disease (GIVLAARI & OXLUMO) | $108 million | +18% | $423 million | +29% |
The TTR programs, including ONPATTRO and AMVUTTRA, have been a pivotal growth engine for Alnylam, with Q4 2024 revenues increasing by 35% year-over-year, and a 34% rise for fiscal year 2024. The Rare Disease segment also delivered impressive results, driven by GIVLAARI and OXLUMO, which increased by 18% in Q4 and surged by 29% throughout the year. The strategic focus on these high-value segments continues to pay dividends in terms of revenue growth and market presence.
Key Developments
Alnylam's recent achievements signal promising avenues for future growth and innovation:
- The company's successful submission of a supplemental New Drug Application (NDA) for vutrisiran, targeting ATTR amyloidosis with cardiomyopathy, demonstrates clinical advancement. This submission has been accepted by the FDA, with a target action date set for March 23, 2025.
- Alnylam initiated multiple Phase 1 studies, exploring RNAi therapeutics for conditions like Huntington's disease and hypertension.
- Insights from the collaboration with Regeneron Pharmaceuticals were highlighted by the presentation of positive Phase 3 data in the treatment of paroxysmal nocturnal hemoglobinuria (PNH).
Comments from Company Officers
CEO Yvonne Greenstreet emphasized the strategic strides made during the quarter, underscoring the RNAi platform's potential in realizing significant clinical milestones. She expressed confidence in Alnylam’s sustainable growth trajectory and voiced anticipation for the planned global launch of vutrisiran, which could significantly bolster the company's TTR franchise in the upcoming year.
Alnylam Pharmaceuticals Stock Forecast
After the earnings announcement, Alnylam's stock experienced a minor decline of approximately 1.13%, reflecting market reactions to the company's financial narrative. With the most recent stock price standing at $265.96 and a market capitalization of $31.2 billion, Alnylam's stock forecast appears cautiously optimistic. Based on the company’s robust revenue growth, promising pipeline developments, and successful strategic execution, the stock price could see high projections nearing $285. However, challenges in market dynamics and competition could place the low projection around $250, dependent on evolving trends and regulatory milestones throughout 2025.
In conclusion, Alnylam Pharmaceuticals has demonstrated strategic resilience and robust performance in its Q4 2024 earnings release. These results solidify its position in key therapeutic markets, setting a favorable foundation for continued growth and shareholder value creation in the coming fiscal year.
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