Summary by Moomoo AI
Alnylam Pharmaceuticals reported Q3 2024 total revenues of $500.9 million, down 33% year-over-year, primarily due to lower collaboration revenues. Net product revenues grew 34% to $420.1 million, driven by AMVUTTRA's 74% increase to $258.6 million. The company posted a net loss of $111.6 million for the quarter.Research and development expenses rose 7% to $270.9 million, reflecting increased clinical trial costs for zilebesiran and mivelsiran programs. Selling, general and administrative expenses increased 11% to $221.0 million due to higher marketing investments for TTR therapies and employee compensation.Alnylam ended Q3 with $3.1 billion in cash and investments. The company expects continued growth in R&D and SG&A expenses in 2024 as it advances its pipeline and prepares for potential launches. Management believes current cash reserves and expected revenues will fund operations for at least the next 12 months.