Alnylam has a extremely strong Q2 2026 with massive revenue growth, driven primarily by the TTR products (AMVUTTRA & ONPATTRO). The pipeline is broad, several Phase 3 programs are underway, and the company sees itself clearly on track for its “Alnylam 2030” strategy. BUT: The full-year forecast was slightly revised downward → this is often a reason for downward pressure on the stock price.
🔹 Key Figures
- Total Net Product Revenues: 1.172 billion USD (+74% YoY)
- TTR Franchise: 1.03 billion USD (+89% YoY)
- Rare franchise: $142 million (+11% YoY)
- Non-GAAP Operating Income: $318 million (+233% YoY)
- Cash on hand: $3.308 billion (higher than at the end of 2025)
🔹 2026 Guidance (updated)
- Total revenue: slightly revised downward revised → previously: 4.9–5.3 billion → now: 4.7–5.1 billion
- TTR revenue: also slightly reduced
- Collaborations & Royalties: significantly increased
🔹 Strategic Highlights
- AMVUTTRA is growing extremely rapidly, particularly in the U.S.
- Pipeline with many Phase 2/3 programs
- Nucresiran (next-gen RNAi) is expected to launch in 2028/2030
- New AI partnership to accelerate molecule development
- Several key data readouts expected in 2026/2027