Earnings Releases·Oct 29, 2026, 8:16 AM ET

Alnylam Pharmaceuticals — Third Quarter 2026 Earnings Summary

Total revenues reached $1,458.1 million (up 17% YoY), driven by a 52% surge in net product revenues to $1,291.9 million, while collaboration revenues dropped 80% to $71.5 million due to the absence of a prior-year $300 million Roche milestone.
GAAP net income jumped to $2,167.3 million and Non-GAAP net income rose 412% to $2,241.9 million, primarily reflecting a $1.9 billion tax benefit from the release of valuation allowances, despite a 6% decline in GAAP operating income.
The company reiterated full-year 2026 guidance, projecting total net product revenues of $4.7 billion to $5.1 billion and total TTR revenues of $4.2 billion to $4.5 billion, with cash and marketable securities increasing to $3.6 billion.
Strategic pipeline updates include the expansion of the TRITON-CM study for nucresiran to 2,250 patients, positive Phase 1 data for brezosiran supporting a 2027 pivotal trial, and a PDUFA target date of November 2026 for cemdisiran.