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TheStreet Open House

Alnylam Pharmaceuticals CEO Discusses Q3 2010 Results – Earnings Call Transcript

Before we begin, as you can see on Slide 3, I would like to remind you that this call will contain remarks concerning Alnylam’s future expectations, plans and prospects which constitute forward-looking statements for the purposes of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including those discussed in our most recent quarterly report on file with the SEC. In addition, any forward-looking statement represents our views only as of the date of this recording and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligations to update such statements.

I will now turn the call over to John.

John Maraganore

Thanks, Cynthia. Welcome everyone and thanks for joining us this afternoon. I’ll be referring to slides 4 and 5 during my introductory comments.

As you know, we made some difficult decisions this period related to the transitions in our Novartis partnership after completion of our fifth and final year of this collaborative effort. These decisions were important steps in building our company for the long term which Barry will discuss in more detail momentarily.

But to provide some perspective at the beginning, the corporate restructuring that we effected allows us to transition certain historical service-based resource allocation activities toward a more product-focused and higher-value commitment of effort. And while difficult decisions were made at a personal level, we feel that they will enable us to optimally position our company for continued growth, success and value-creation for the future.

In the meanwhile, we continue to lead the translation of RNAi therapeutics to patients as a whole new class of innovative medicines and we are very confident about the progress we are making across multiple dimensions. In this regard, Alnylam had a very productive third quarter, one in which we continue to make significant progress in advancing RNAi therapeutics through human clinical trials as Akshay will detail for you shortly.

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