In This Article:
-
Combined Net Product Revenue: $1.646 billion for 2024, representing 33% growth compared to 2023.
-
TTR Franchise Revenue: $343 million in Q4 2024, a 35% increase compared to Q4 2023.
-
Full Year TTR Revenue: $705 million in the US, a 39% increase compared to 2023.
-
Rare Franchise Revenue: $108 million in Q4 2024, an 18% increase compared to Q4 2023.
-
Gross Margin on Product Sales: 81% for the full year 2024, a 3% increase compared to 2023.
-
Non-GAAP Operating Income: $95 million for the full year 2024.
-
Cash, Cash Equivalents, and Marketable Securities: $2.7 billion at the end of 2024.
-
2025 Revenue Guidance: $2.05 billion to $2.25 billion in combined net product sales.
-
2025 TTR Revenue Guidance: $1.6 billion to $1.725 billion, assuming approval and launch of AMVUTTRA for ATTR cardiomyopathy.
-
2025 Rare Revenue Guidance: $450 million to $525 million.
-
2025 Collaboration and Royalty Revenue Guidance: $650 million to $750 million.
-
2025 Non-GAAP R&D and SG&A Expenses: $2.1 billion to $2.2 billion.
Release Date: February 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) reported strong financial performance with combined net product revenues of over $1.6 billion, achieving a 33% growth compared to 2023.
-
The company achieved a significant milestone with $95 million in non-GAAP operating income for the full year, marking its first year of profitability.
-
The HELIOS-B Phase III study yielded highly positive results, leading to the submission of global regulatory filings for vutrisiran in ATTR cardiomyopathy.
-
Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) has a robust pipeline with numerous multibillion-dollar opportunities, including the advancement of Nucresiran, which received orphan drug designation for ATTR amyloidosis.
-
The company maintained its award-winning culture, which has been a critical enabler of its success, and is poised for sustainable growth and value creation in 2025 and beyond.
Negative Points
-
The launch of AMVUTTRA for ATTR cardiomyopathy is expected to face delays in formulary uptake, with meaningful demand anticipated only in the second half of 2025.
-
Gross margin on product sales is expected to decrease in 2025 due to the increased royalty burden on AMVUTTRA sales.
-
The company faces competition in the market, particularly in the polyneuropathy segment, which could impact its market share and growth.
-
There is uncertainty regarding payer policies and the establishment of value-based agreements for the expanded label of AMVUTTRA in cardiomyopathy.
-
Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) anticipates increased R&D and SG&A expenses in 2025, driven by clinical investments and the launch of AMVUTTRA, which could impact profitability.