Alnylam Pharmaceuticals Earnings: Here’s Why Investors are Excited Now
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.17%.
Alnylam Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $-0.25 in the year-earlier quarter.
Revenue: Decreased 9.66% to $18.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alnylam Pharmaceuticals, Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company beat the mean analyst estimate of $-0.29. It beat the average revenue estimate of $15.56 million.
Quoting Management: “This quarter we continued to execute on our ‘Alnylam 5×15’ product strategy, where we are advancing RNAi therapeutics toward genetically defined targets for diseases with limited treatment options for patients and their caregivers. With ALN-TTR02, we continued enrollment in our ongoing Phase II study and now expect to report initial results in late June. In addition, we remain on track to start our Phase III trial in familial amyloidotic polyneuropathy patients later this year. Further, we were very pleased this quarter to have initiated a Phase I clinical trial for ALN-TTRsc, a subcutaneously administered RNAi therapeutic for the treatment of transthyretin-mediated amyloidosis. Importantly, ALN-TTRsc represents Alnylam’s first RNAi therapeutic utilizing our proprietary GalNAc conjugate delivery platform to enter the clinic, as well as the industry’s first systemic RNAi therapeutic to be delivered subcutaneously,” said John Maraganore, Ph.D., Chief Executive Officer of Alnylam. “In addition, we continue to advance ALN-AT3, an RNAi therapeutic targeting antithrombin for the treatment of hemophilia and other rare bleeding disorders, and plan to present new pre-clinical data in July. Finally, we advanced ALN-AS1, an RNAi therapeutic targeting aminolevulinate synthase 1 for the treatment of porphyria, as a new ‘Alnylam 5×15’ program, and intend to report key pre-clinical data in May. In sum, the first quarter was a notable period of pipeline execution that now positions the company for a very data-rich period in the months to come, including an R&D Day we plan to host on July 11 in New York City.”
Key Stats (on next page)…