Alnylam reports Q2 EPS 56c, consensus ($1.08)

Reports Q2 revenue $659.83M, consensus $444.111M. Net revenues from collaborations during the three months ended June 30, included approximately $185M of revenue, which was previously deferred, upon modifying its collaboration agreement with Regeneron. As part of the modification to the collaboration agreement, the company granted Regeneron exclusive license rights to cemdisiran monotherapy. “Alnylam delivered strong results across the business in the second quarter. We achieved a robust 34% year-over-year growth, with global net product revenues of $410 million, primarily driven by our TTR business, leading to an upward revision of our combined net product revenue guidance for the year. On the clinical side, we announced positive topline results from the HELIOS-B Phase 3 study of vutrisiran, showing that it improved cardiovascular outcomes, including an impressive 35-36% mortality benefit, in patients with ATTR cardiomyopathy,” said Yvonne Greenstreet, MBChB, Chief Executive Officer of Alnylam. “With these outstanding results in hand, and assuming successful regulatory review and approval, we believe we are positioned to deliver significant long-term topline growth, providing the capacity for strategic investment in our highly productive organic R&D platform, and further advancing us toward our Alnylam P5x25 goals and becoming a leading global biotech company.”