Full Press Release Details
Alnylam Launches Alnylam
P5x25 Strategy for Planned Transition to a Top Five Biotech in Market Capitalization Over Next Five Years
New 5-Year Strategy Represents Alnylam s Commitment to Delivering Transformative Rare
and Prevalent Disease Medicines for Patients Around the World Through Sustainable Innovation and Exceptional Financial Performance Driving Profitability
In Addition, Company Announces Full Year 2020 Preliminary* Global Net Product Revenues for ONPATTRO and GIVLAARI of Approximately $306 Million and $55 Million, Respectively,
and Strong Initial U.S. Demand for OXLUMOTM
CAMBRIDGE, Mass., Jan. 10, 2021
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced its new 5-year strategy Alnylam
P5x25 focused on the Company s planned transition to a top-5 biotech (measured by market capitalization) in the next 5
years through: sustainable innovation yielding transformative medicines for rare and common diseases for patients around the world and delivery of exceptional financial performance. Alnylam
P5x25 extends the Company s decade-long heritage of providing longer term, 5-year business strategy guidance, the most recent of
which was known as Alnylam 2020. In addition, Alnylam today reported preliminary fourth quarter and full year 2020 global net product revenues for ONPATTRO and GIVLAARI and provided additional updates on the Company s commercial
launches, including initial OXLUMO demand.
New 5-Year Strategy: P5x25
Alnylam ended last year exceeding all metrics for its Alnylam 2020 strategy, with 4
marketed products (versus 3), 12 clinical programs (versus 10), 6 of which are in late-stage development (versus 4), across 4 strategic therapeutic areas (versus 3).
The Company s Alnylam P5x25 strategy is aimed at Alnylam s transition to a
top 5 biotech company, as measured by market capitalization, over the next 5 years.
Specifically, the Company intends to end 2025 with the following
We executed well on our Alnylam 2020 strategy, exceeding all
pre-set metrics and transitioning into a global, multi-product commercial company with a robust clinical pipeline and an organic product engine delivering sustainable innovation, a profile that has rarely been
achieved in biotech history. It was especially gratifying to cap 2020 with positive Phase 3 HELIOS-A results for vutrisiran, which is set to become our 5th RNAi therapeutic to reach the market, if
approved, said John Maraganore, Ph.D., CEO of Alnylam Pharmaceuticals. We are now thrilled to launch our new chapter with Alnylam P5x25, which is aimed
at Alnylam s planned transition to a top 5 biotech in market capitalization based on a proven and high-yielding technology for disruptive medical innovation and a foundational track record of commercial execution. Indeed, with Alnylam
P5x25, we expect to sustainably and organically create and commercialize transformative rare and common disease medicines benefiting hundreds of thousands of patients around the
world while delivering strong financial performance and profitability, resulting in a leading biotech profile.
2020 Preliminary Commercial and
Financial Performance*
ONPATTRO (patisiran), a commercial-stage RNAi
therapeutic targeting transthyretin (TTR) for the treatment of polyneuropathy in adult patients with hATTR amyloidosis.
GIVLAARI (givosiran), a commercial-stage RNAi
therapeutic for the treatment of adults with acute hepatic porphyria (AHP).
OXLUMO (lumasiran), a
commercial-stage RNAi therapeutic for the treatment of primary hyperoxaluria type 1 to lower urinary oxalate levels in pediatric and adult patients.
Finally, the Company today reported that it expects its full year 2020
non-GAAP operating loss to be substantially improved relative to the prior year, marking 2019 as Alnylam s peak non-GAAP operating loss year as the Company
transitions towards a self-sustainable financial profile.
Further, at December 31, 2020, Alnylam had preliminary cash, cash equivalents, and
marketable securities of approximately $1.9 billion, as compared to $1.5 billion at December 31, 2019. The Company balance sheet was strengthened by the 2020 strategic financing collaboration with Blackstone.
We are extremely pleased with ONPATTRO and GIVLAARI performance in the fourth quarter and cumulatively for the year, reflecting strong commercial
execution, a substantial increase in demand and new patient adds, despite the ongoing COVID-19 pandemic. Additionally, we re pleased to report that strong top-line
revenue growth at the upper end of our guidance range and disciplined R&D and SG&A investments have delivered on a lower non-GAAP operating loss for 2020 compared with the prior year. We believe
we re now firmly on our way toward a self-sustainable financial profile with significant growth from four revenue generating assets and moderated operating expenses, and a balance sheet that supports achievement of profitability without the
need to access the equity markets, said Jeff Poulton, Chief Financial Officer of Alnylam. As we now launch our Alnylam P5x25 strategy, we re committed to
delivering consistently strong financial performance driven by 40% or greater revenue CAGR over the next five years with non-GAAP profitability achieved within the period.
Alnylam management will discuss these preliminary selected financial results and commercial updates during a webcast presentation at the 39th Annual J.P. Morgan Healthcare Conference tomorrow, Monday, January 11, 2021, at 8:20 a.m. ET.
RNAi (RNA interference) is a natural cellular
process of gene silencing that represents one of the most promising and rapidly advancing frontiers in biology and drug development today. Its discovery has been heralded as a major scientific breakthrough that happens once every decade or
so, and was recognized with the award of the 2006 Nobel Prize for Physiology or Medicine. By harnessing the natural biological process of RNAi occurring in our cells, a new class of medicines, known as RNAi therapeutics, is now a reality.
Small interfering RNA (siRNA), the molecules that mediate RNAi and comprise Alnylam s RNAi therapeutic platform, function upstream of today s medicines by potently silencing messenger RNA (mRNA) the genetic precursors that
encode for disease-causing or disease pathway proteins, thus preventing them from being made. This is a revolutionary approach with the potential to transform the care of patients with genetic and other diseases.
About Alnylam Pharmaceuticals
Alnylam (Nasdaq: ALNY) is
leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare genetic, cardio-metabolic, hepatic infectious, and central nervous system
(CNS)/ocular diseases. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach for the treatment of a wide range of severe and debilitating diseases. Founded
in 2002, Alnylam is delivering on a bold vision to turn scientific possibility into reality, with a
robust RNAi therapeutics platform. Alnylam s commercial RNAi therapeutic products are ONPATTRO (patisiran), GIVLAARI (givosiran), and OXLUMO (lumasiran) and Leqvio (inclisiran) being developed
and commercialized by Alnylam s partner Novartis. Alnylam has a deep pipeline of investigational medicines, including six product candidates that are in late-stage development. Alnylam is executing on its Alnylam P5x25 strategy to deliver transformative medicines in both rare and common diseases benefiting patients around the world through sustainable innovation and exceptional financial
performance, resulting in a leading biotech profile. Alnylam is headquartered in Cambridge, MA. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam or
Alnylam Forward Looking Statements
Various statements in this release concerning Alnylam s future expectations, plans and prospects, including, without limitation, Alnylam s views and
plans with respect to its new 5-year Alnylam P5x25 strategy, its intentions to achieve the metrics associated with
this strategy including to become a profitable, top 5 biotech company, its unaudited, preliminary selected financial results for 2020, the potential for RNAi therapeutics, including ONPATTRO, GIVLAARI, OXLUMO, Leqvio (inclisiran) and vutrisiran, its
plans for the continuing launch of its commercial products and the advancement of vutrisiran through regulatory review and toward the market, the achievement of additional pipeline milestones, and the continued development and commercialization of
Leqvio (inclisiran) by its partner, Novartis, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results and future plans may differ materially from
those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation: the direct or indirect impact of the COVID-19 global
pandemic or any future pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, the broad availability of safe and effective vaccine(s), material delays in diagnoses of rare
diseases, initiation or continuation of treatment for diseases addressed by Alnylam products, or in patient enrollment in clinical trials, potential supply chain disruptions, and other potential impacts to Alnylam s business, the effectiveness
or timeliness of steps taken by Alnylam to mitigate the impact of the pandemic, and Alnylam s ability to execute business continuity plans to address disruptions caused by the COVID-19 or any future
pandemic; the finalization and audit of Alnylam s fourth quarter and 2020 fiscal year financial results which could potentially result in changes or adjustments to the selected preliminary financial results presented herein; Alnylam s
ability to discover and develop novel drug candidates and delivery approaches and successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for its
product candidates, which may not be replicated or continue to occur in other subjects or in additional studies or otherwise support further development of product candidates for a specified indication or at all; actions or advice of regulatory
agencies, which may affect the design, initiation, timing, continuation and/or progress of clinical trials or result in the need for additional pre-clinical and/or clinical testing; delays, interruptions or
failures in the manufacture and supply of its product candidates or its or its partner Novartis marketed products; obtaining, maintaining and protecting intellectual property; intellectual property matters including potential patent litigation
relating to its platform, products or product candidates; obtaining regulatory approval for its product candidates, and maintaining regulatory approval and obtaining pricing and reimbursement for its
products; successfully launching, marketing and selling its approved products globally; Alnylam s ability to successfully expand the indication for ONPATTRO in the future; the ability of
Novartis to successfully obtain and maintain additional regulatory approvals and pricing and reimbursement for Leqvio (inclisiran); competition from others using technology similar to Alnylam s and others developing products for similar uses;
Alnylam s ability to manage its growth and operating expenses and its ability to achieve a self-sustainable financial profile in the future without the need for future equity financing; Alnylam s ability to establish and maintain strategic
business alliances and new business initiatives; Alnylam s dependence on third parties, including Novartis, Regeneron and Vir, for the continued development and commercialization of certain products; the outcome of litigation; the risk of
government investigations; and unexpected expenditures; as well as those risks more fully discussed in the Risk Factors filed with Alnylam s most recent Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission (SEC) and in other filings that Alnylam makes with the SEC. In addition, any forward-looking statements represent Alnylam s views only as of today and should not be relied upon as representing its
views as of any subsequent date. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.