Alnylam Pharmaceuticals, Inc., a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. The company's pipeline of investigational RNAi therapeutics focuses on genetic medicines, cardio-metabolic diseases, hepatic infectious diseases, and central nervous system (CNS)/ocular diseases. Its marketed products include ONPATTRO (patisiran), a lipid complex injection for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria (AHP); and OXLUMO (lumasiran) for the treatment of primary hyperoxaluria type 1 (PH1). In addition, the company is developing givosiran for the treatment of adolescent patients with AHP; patisiran for the treatment of transthyretin amyloidosis, or ATTR amyloidosis, with cardiomyopathy; cemdisiran to treat complement-mediated diseases; ALN-AAT02 for the treatment of AAT deficiency-associated liver disease; ALN-HBV02 to treat chronic HBV infection; Zilebesiran to treat hypertension; and ALN-HSD to treat NASH. Further, it offers Fitusiran for the treatment of hemophilia and rare bleeding disorders, Inclisiran to treat hypercholesterolemia, lumasiran for the treatment of advanced PH1 and recurrent renal stones, and vutrisiran for the treatment of ATTR amyloidosis, which is in phase 3 clinical trial. Alnylam Pharmaceuticals, Inc. has strategic collaborations with Regeneron Pharmaceuticals, Inc. to discover, develop, and commercialize RNAi therapeutics for a range of diseases by addressing therapeutic targets expressed in the eye and CNS; and Sanofi Genzyme to discover, develop, and commercialize RNAi therapeutics. It also has license and collaboration agreements with Novartis AG; Vir Biotechnology, Inc.; Dicerna Pharmaceuticals, Inc.; Ionis Pharmaceuticals, Inc.; and PeptiDream, Inc. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam Pharmaceuticals, Inc.

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Restructuring of Tekmira License Agreement

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Equity in Loss of Joint Venture (Regulus Therapeutics Inc.)

Equity in Loss of Joint Venture (Regulus Therapeutics Inc.) %Chg

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Gain on Issuance of Stock by Regulus Therapeutics Inc.

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Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	3,210.1	2,248.2	1,828.3	1,037.4	844.3	492.9	219.8	74.9	89.9	47.2	41.1
Total Revenues %Chg	53.2%	23%	76.2%	22.9%	71.3%	124.3%	193.4%	-16.7%	90.7%	14.8%	-18.7%
Net Product Revenues
Net Revenues from Collaborations
Royalty Revenue
Cost of Sales	517	323.4	310.4	168.8	140.1	78.1	25.1	1.8	—	—	—
Cost of Goods Sold
Cost of Collaborations and Royalties
Gross Profit	2,693.1	1,924.9	1,517.9	868.6	704.1	414.8	194.7	73.1	89.9	47.2	41.1
Gross Profit Margin	83.9%	85.6%	83%	83.7%	83.4%	84.2%	88.6%	97.6%	100%	100%	100%
Selling, General & Administrative Expenses	1,180.7	975.5	795.6	770.7	620.6	588.4	479	382.4	199.4	89.4	60.6
Selling, General and Administrative
Research & Development Expenses	1,247.7	1,126.2	1,004.4	883	792.2	654.8	655.1	505.4	390.6	382.4	276.5
Research and Development
In-Process Research and Development
Other Operating Expenses	—	—	—	—	—	—	—	—	—	—	—
Restructuring of Tekmira License Agreement
Operating Profit	264.7	-176.9	-282.2	-785.1	-708.7	-828.4	-939.4	-814.7	-500.1	-424.6	-296
Income from Operations
Operating Margin	8.2%	-7.9%	-15.4%	-75.7%	-83.9%	-168.1%	-427.5%	-1,087.6%	-556.2%	-900.3%	-720.3%
Interest and Investment Income	115.9	122	95.6	24.8	1.6	—	33.4	29.3	12.2	8.3	5.9
Interest Income
Interest Expense	-162.3	-141.9	-121.2	-156	-143	-84.5	—	—	—	—	—
Interest Expense
Non-Operating Income	-507.7	-381.1	-277	-552.7	-145.5	-84.5	33.4	78.7	6.2	20.7	5.9
Equity in Loss of Joint Venture (Regulus Therapeutics Inc.)
Gain on Issuance of Stock by Regulus Therapeutics Inc.
Other Expense, Net
Loss on the Extinguishment of Debt
Other Expense (Income), Net
Other Expense (Income)
Total Other Income
Total Other Income
Other Income, Net
Total Other Expense Income
Total Other Expense, Net
Total Non-Operating Income	-554.1	-401	-302.7	-683.8	-287	-169	66.9	108	18.4	29	11.7
Income Before Provision for Income Taxes	-31.9	-377.4	-433.5	-1,127	-852.1	-855.6	-885.3	-760.7	-490.9	-410.1	-284.3
Income Before Income Taxes
Provision for Income Taxes	75.5	99.2	-6.7	-4.2	-0.7	-2.7	-0.9	-0.8	—	—	—
Benefit from Income Taxes
Consolidated Net Income	-107.5	-476.6	-426.8	-1,122.8	-851.5	-852.9	-884.4	-759.9	-490.9	-410.1	-284.3
Net Income Attributable to Common Shareholders	43.6	-278.2	-440.2	-1,131.2	-852.8	-858.3	-886.1	-761.5	-490.9	-410.1	-290.1
Net Loss
Net Income
Basic EPS	0.3	-2.2	-3.5	-9.3	-7.2	-7.5	-8.1	-7.6	-5.4	-4.8	-3.5
Diluted EPS	0.2	-2.2	-3.5	-9.3	-7.2	-7.5	-8.1	-7.6	-5.4	-4.8	-3.5
Basic Weighted Average Shares Outstanding	130.2	127.7	124.9	121.7	118.5	115	109.3	100.6	90.6	85.6	84
Total Shares Outstanding	132.1	129.3	125.8	123.9	120.2	116.4	112.2	101.2	99.7	85.9	85.1
Diluted Weighted Average Shares Outstanding	131.7	127.7	124.9	121.7	118.5	115	109.3	100.6	90.6	85.6	84
EBITDA	321	-120.2	-228.1	-740.6	-619	-754	-885.1	-799.4	-488.2	-409.5	-277
Effective Tax Rate	-236.4%	-26.3%	1.6%	0.4%	0.1%	0.3%	0.1%	0.1%	—	—	—