# Fundamentals #0058: Alnylam Pharmaceuticals: 3Q2026 results

Date: 2026-11-02 10:39
URL: https://heniu.blog/en/f-log/flog-2026-11-02-0058/
Author: Heniu (heniu.blog). Text license: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/).

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Alnylam Pharmaceuticals (ALNY) revenues in the third quarter were 1.46 billion USD (+16.7% y/y), and earnings per share (GAAP) increased to 15.72 USD (+634.6% y/y).

### Quarterly results

Earnings per share (GAAP, basic) reached 16.19 USD (+626.0% y/y), while earnings per share (adjusted) were 16.26 USD (+409.7% y/y).

### Company guidance

The company expects total net product revenues in 2026 to be between 4.70 billion USD and 5.10 billion USD. According to forecasts, net product revenue growth in 2026 at constant exchange rates is expected to be between 57.0% and 70.0%.

### Management commentary

Management admitted that they are not satisfied with the demand growth rate for one of the products, despite a significant increase since its launch. According to management, expectations for nucresiran remain unchanged, both in terms of efficacy in monotherapy and in combination with a stabilizing drug. Management indicated that they are seeking solutions to allow hospitals to maintain treatment profitability despite changes in the reimbursement program. According to management, study timelines have not changed, and in the case of Huntington's disease, the company is employing a distinctive approach that allows for deep gene silencing. Management emphasized that they see great growth opportunities and are investing in expanding the circle of prescribing physicians and developing products beyond the current franchise.