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Alnylam Pharmaceuticals Reports Third Quarter 2012 Financial Results

Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today reported its consolidated financial results for the third quarter 2012, and company highlights.

“The highlights of this quarter include the positive results we reported in our clinical programs and our continued execution on our ‘Alnylam 5x15’ product strategy. Specifically, we reported positive data from a Phase I study and continued enrollment in our Phase II study of ALN-TTR02. We also showed encouraging pre-clinical data in programs using our GalNAc conjugate delivery platform that enables subcutaneous administration of RNAi therapeutics; these include ALN-TTRsc for the treatment of ATTR and ALN-AT3 for the treatment of hemophilia. Finally, we were pleased to report complete results from a Phase IIb trial of ALN-RSV01 for the treatment of respiratory syncytial virus infection in lung transplant patients,” said John Maraganore, Ph.D., Chief Executive Officer of Alnylam. “Continued execution on our ‘Alnylam 5x15’ product strategy remains our core focus, and we aim to complete our Phase II trial for ALN-TTR02 in mid-2013 and initiate our Phase III trial by the end of 2013. In addition, we expect to file an IND for ALN-TTRsc by end of this year and an IND for ALN-AT3 by mid-2013. With our recent accomplishments in our pipeline efforts, we have strengthened confidence that we can advance RNAi therapeutics toward genetically defined targets for diseases that currently have limited treatment options for patients and their caregivers.”

“In addition to the substantial progress in our ‘Alnylam 5x15’ efforts, we have also advanced our business development efforts through new collaborations with Genzyme, Monsanto, and Ascletis,” said Barry Greene, President and Chief Operating Officer of Alnylam. “Notably, we formed a strategic alliance with Genzyme to advance ALN-TTR in Japan and the broader Asian-Pacific region. ATTR is an endemic disease in Japan, and we believe this new alliance promises to bring our ALN-TTR program to these patients sooner and to reach this market faster. We are also excited about the alliance we formed with Monsanto, a leader in the field of agriculture. This collaboration facilitates broad use of our intellectual property and technology in agricultural applications and enables additional value creation for Alnylam outside of our focus on human therapeutics. Finally, we formed a strategic collaboration with Ascletis to develop ALN-VSP for the treatment of liver cancers in China, while we retain rights in the rest of the world.”

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