- Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) reported first-quarter FY23 revenues of $319.29 million, up 49.7% year over year, beating the consensus of $312.26 million.
- Adjusted loss per share of $(1.06) beat the consensus of $(1.76) loss.
- Strength in Global Net Product sales (+48% Y/Y) to $276 million buoyed quarterly performance. In addition, the company saw solid commercial execution in Q1, driven by the ongoing launch of AMVUTTRA.
- The company reported a Non-GAAP Net loss of $(131.89) million, narrower than the $(179.89) million loss in the year-ago period.
- Cash equivalents and marketable securities at quarter-end stood at $2.07 billion.
- In Q1, the company delivered positive first-in-human results for an RNAi therapeutic in the CNS from an interim analysis of the Phase 1 study of ALN-APP in patients with early-onset Alzheimer’s disease. “We believe this proof of concept is a significant catalyst for future potential growth for Alnylam,” said CEO Yvonne Greenstreet.
- Related: Alnylam – Regeneron Partnered Alzheimer’s Candidate’s Initial Data Sounds Promising, Analyst Says
- Outlook: Alnylam reiterated its FY23 guidance, with Net Product Revenue growth in FY23 at 34%-44%.
- Net revenues from collaborations and royalties is expected in the band of $100 million- $175 million.
- Price Action: ALNY shares are up 3.03% at $205.54 on the last check Thursday.
Alibaba, Nio Shares Fall: Hang Seng Merely 350 Points Away From 2009 Lows
Hong Kong stocks opened in the red on Thursday as investors shifted focus to U.S. inflation data due later in the day. The benchmark Hang Seng opened 1.11% down and was last seen trading at 16,538, just nearly 350 points away from hitting its 2009 lows.
