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Alnylam Pharmaceuticals Inc. (ALNY-0.78%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The report details Alnylam's financial performance, including total revenues of $2.25 billion, an increase from $1.83 billion in 2023. This growth was driven by increased product sales, particularly from AMVUTTRA and OXLUMO.
Net product revenues were $1.65 billion, with AMVUTTRA contributing significantly to this figure. The product saw increased demand, leading to a 74% rise in sales compared to the previous year.
Research and development expenses rose 12% to $1.13 billion, reflecting Alnylam's ongoing investment in its pipeline, including clinical trials for its RNAi therapeutics.
Selling, general, and administrative expenses increased by 23% to $975.5 million, attributed to marketing investments and preparation for potential product launches.
The company reported a net loss of $278.2 million, an improvement from a net loss of $440.2 million in 2023. This was influenced by increased revenues and a benefit from income taxes.
Alnylam's collaboration revenues included $119.5 million from Roche and $302.8 million from Regeneron, with significant milestones achieved in 2024.
The report also discusses Alnylam's strategic focus on expanding its commercial infrastructure and advancing its clinical pipeline, including the development of therapies for ATTR amyloidosis and other conditions.
Alnylam ended 2024 with $2.69 billion in cash, cash equivalents, and marketable securities, providing a strong financial position to support its strategic initiatives.
The company continues to face risks related to competition, regulatory changes, and reliance on third-party collaborations, as detailed in the risk factors section of the report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alnylam Pharmaceuticals Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.