By Katherine Hamilton
Alnylam Pharmaceuticals stock advanced after the company said its preliminary 2024 product revenue rose 34%.
The shares rose 8% to $256.87 Monday. They are up 37% over the past 12 months.
The Cambridge, Mass.-based company, which specializes in RNAi therapies, said it made about $343 million in net product revenue from its Onpattro and Amvuttra products in the fourth quarter of 2024, based on preliminary numbers published Sunday.
Alnylam expects those two products to have accrued $1.22 billion during the full year of 2024, a 34% increase from 2023.
Its products Givlaari and Oxlumo brought in a total product revenue of $109 million in the fourth quarter, and $423 million for the full year. That is a roughly 29% increase from 2023.
Alnylam guided for a net product revenue of $2.05 billion to $2.25 billion in 2025. That would be a 31% increase from 2024's number based on the mid-point of the guidance range.
More than half of its product revenue is expected to come from the Onpattro and Amvuttra treatments, which are projected to grow about 36% compared with 2024. The treatments Givlaari and Oxlumo are expected to bring in 15% more revenue, or $450 million to $525 million.
Alnylam said it anticipates delivering non-GAAP operating income profitability in 2025.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 13, 2025 13:47 ET (18:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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