Alnylam Delivers a Big Q4 Earnings Beat

Core Insights - Alnylam Pharmaceuticals reported strong revenue growth and exceeded Wall Street expectations with a non-GAAP EPS of $0.06, compared to an anticipated loss of $0.60 per share [2][3] - The company's revenue for Q4 2024 reached $593.2 million, surpassing the expected $584 million, marking a 34.9% increase from $439.7 million in Q4 2023 [3][6] Financial Performance - Non-GAAP EPS for Q4 2024 was $0.06, significantly better than the consensus estimate of ($0.60) and an improvement from ($0.77) in Q4 2023 [3] - Total revenue was $593.2 million, exceeding the analysts' estimate of $584 million, and representing a 34.9% year-over-year increase [3] - Net product revenue reached $450.8 million, a 30.2% increase from $346.3 million in Q4 2023 [3][6] - The company reported a total net income (non-GAAP) of $8.0 million, a significant recovery from a loss of ($96.6 million) in the previous year [3] Product and Market Strategy - Alnylam focuses on RNA interference (RNAi) therapeutics, with a strong portfolio of approved products and a robust pipeline targeting rare diseases [4] - The company has successfully commercialized RNAi-based medicines like Onpattro and Amvuttra, contributing to its revenue growth [5] - The transthyretin-mediated amyloidosis franchise, including Onpattro and Amvuttra, generated $343 million in combined quarterly revenues, reflecting a 35% year-over-year improvement [6] Future Outlook - Management projects total net product revenues between $2.05 billion and $2.25 billion for 2025, driven by the anticipated approval and launch of Amvuttra for ATTR-CM [9] - Alnylam aims to expand its global market presence and pipeline, with over 25 programs expected to be in clinical stages by the end of 2025 [10]