Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) stock is trading lower after the company reported third-quarter earnings.
Alnylam also said that it received a subpoena from the U.S. Attorney’s Office for the District of Massachusetts seeking documents about government price reporting for Amvuttra, Onpattro, Oxlumo and Givlaari, including certain fee and discount arrangements with distributors.
• ALNY is feeling the pressure from bearish momentum. See the market dynamics here.
The company reported a third-quarter 2025 adjusted earnings of $2.90, a turnaround from a loss of 50 cents a year ago. Analysts estimated earnings of 75 cents.
The company reported quarterly sales of $1.25 billion, up 149% year over year, beating the consensus of $977.79 million.
Total net product revenues increased 103% (+99% at constant currency), primarily due to growth from Amvuttra, driven by increased patient demand, mainly in patients with ATTR amyloidosis with cardiomyopathy in the U.S., which was partially offset by a decrease in Onpattro due to patient switches to Amvuttra, and due to growth from an increased number of patients on Givlaari and Oxlumo.
Also Read: Alnylam’s Amvuttra Makes Powerful Entrance, Eyes First-Line Dominance
Amvuttra sales jumped 165% to $685.30 million, Onpattro revenue was down 22% to $39.07 million, Oxlumo sales were +31% to $52.83 million, and Givlaari sales reached $73.87 million, +4% year over year.
“While only in our second full quarter of the AMVUTTRA ATTR-CM launch, the TTR franchise saw remarkable year-over-year growth. AMVUTTRA’s robust clinical profile, convenient quarterly administration, and broad payer coverage all continue to drive this encouraging pace of uptake and further position Alnylam as a leader in TTR,” said Yvonne Greenstreet, Alnylam CEO.
Guidance: Alnylam Pharmaceuticals raised fiscal 2025 sales guidance from $3.3 billion-$3.55 billion to $3.6 billion-$3.8 billion compared to the consensus of $3.53 billion.
Total TTR net product revenues (Amvuttra and Onpattro) are expected to be $2.48 billion-$2.53 billion, up from prior guidance of $2.175 billion-$2.275 billion.
Reiterates total rare net product revenues (Givlaari and Oxlumo) of $475 million-$525 million.
William Blair notes that the “stock is down due to lofty investor expectations heading into the print for Amvuttra sales to exceed $695 million to $700 million (Amvuttra sales were $685.3 million for the quarter).”
ALNY Price Action: ALNY stock is down 8.05% at $442.81 at publication on Thursday.
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