ALNYLAM PHARMACEUTICALS, INC.
ALNY evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ALNY—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ALNY
Alnylam Pharmaceuticals is a global commercial-stage biopharmaceutical company that discovers, develops, manufactures and commercializes novel RNAi therapeutics, with six approved products and a deep pipeline targeting rare and prevalent diseases [sec_mda · as of 2026-02-12].
Key risk: Clinical trial failure risk
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 36 clinical trials · 9 catalysts for ALNYLAM PHARMACEUTICALS, INC..
Alnylam Pharmaceuticals is a global commercial-stage biopharmaceutical company that discovers, develops, manufactures and commercializes novel RNAi therapeutics, with six approved products and a deep pipeline targeting rare and prevalent diseases [sec_mda · as of 2026-02-12].
- Achieved profitability for the first time in 2025, with full-year net product revenues of approximately $1.29 billion [sec_mda · as of 2026-02-12].
- As of June 30, 2026, cash and equivalents were $1,709.5M, with total revenue of $1,290.9M and net income of $164.5M [latest reported financials].
- Accumulated deficit of $6.70 billion as of December 31, 2025 [sec_mda · as of 2026-02-12].
- Launched Alnylam 2030 strategy focused on leadership in ATTR amyloidosis, sustainable innovation, and financial discipline [sec · filed 2026-04-06].
- Multiple late-stage programs underway, including Phase 3 trials for nucresiran (TRITON-PN, TRITON-CM) and zilebesiran (ZENITH) [sec_mda · as of 2026-02-12].
What works
- First-to-market RNAi therapeutic platform with six approved products and a broad pipeline targeting multiple disease areas [sec_mda · as of 2026-02-12].
- Achieved profitability in 2025, demonstrating commercial viability and revenue growth from product sales and collaborations [sec_mda · as of 2026-02-12].
- Strong cash position of $1.71B as of June 30, 2026, with access to a revolving credit facility, supporting ongoing R&D and operations [latest reported financials; sec_mda · as of 2026-07-30].
- Alnylam 2030 strategy sets aspirational goals for scaling operations and driving long-term growth through innovation [sec · filed 2026-04-06].
What to weigh
- Accumulated deficit of $6.70 billion as of December 31, 2025, reflecting years of heavy investment before reaching profitability [sec_mda · as of 2026-02-12].
- Significant ongoing R&D expenditures and milestone payments to partners (e.g., Blackstone) create near-term cash outflows [sec_mda · as of 2026-02-12].
- Dependence on successful clinical trial outcomes for key pipeline candidates (nucresiran, zilebesiran) to sustain growth [sec_mda · as of 2026-02-12].
- Patent exclusivity for key products (GIVLAARI, ONPATTRO, AMVUTTRA) begins expiring in 2034, posing long-term revenue risk [upcoming catalysts].
From the filings
Quoted directly from source documents.
Alnylam achieved profitability for the first time in 2025.
“We achieved profitability for the first time in 2025, with full-year net product revenues of approximately”
SEC MD&A · February 12, 2026
Alnylam had an accumulated deficit of $6.70 billion as of December 31, 2025.
“we had an accumulated deficit of $6.70 billion”
SEC MD&A · February 12, 2026
Alnylam's RNAi platform targets genetic roots of disease.
“Our RNAi platform enables the development of novel medicines designed to prevent, halt, or reverse disease by targeting its genetic roots.”
SEC filings · April 6, 2026
Alnylam has six approved products and multiple late-stage programs.
“we currently have six products that have received marketing approval, including two products marketed by our collaborators, and multiple late-stage investigational programs advancing towards potential commercialization.”
SEC MD&A · February 12, 2026
Catalyst timeline
- 2026-12-02 · Phase3_Topline — Phase 3 Topline: HELIOS-B — Topline results for vutrisiran in ATTR amyloidosis with cardiomyopathy; key readout for pipeline expansion.
- 2028-03-31 · Phase3_Topline — Phase 3 Topline: An Open-Label Extension Study of Vutrisiran — Long-term safety and efficacy data for vutrisiran in transthyretin amyloidosis.
- 2030-09-30 · Phase3_Topline — Phase 3 Topline: ZENITH — Cardiovascular outcomes trial for zilebesiran in uncontrolled hypertension.
- 2031-06-12 · Phase3_Topline — Phase 3 Topline: TRITON-PN — Phase 3 trial of nucresiran in hATTR-PN (polyneuropathy).
- 2032-11-30 · Phase3_Topline — Phase 3 Topline: TRITON-CM — Phase 3 trial of nucresiran in ATTR-CM (cardiomyopathy).
- 2034-10-03 · Patent_Expiry · GIVLAARI — Patent exclusivity for GIVLAARI expires, opening to generic competition.
- 2035-08-27 · Patent_Expiry · ONPATTRO — Patent exclusivity for ONPATTRO expires.
- 2036-07-28 · Patent_Expiry · AMVUTTRA — Patent exclusivity for AMVUTTRA expires.
Risks & what to watch (4)›
Key risks
- Clinical trial failure risk — Pipeline candidates (nucresiran, zilebesiran) may fail to meet endpoints, impacting future revenue [sec_mda · as of 2026-02-12].
- Patent expirations — Exclusivity for GIVLAARI (2034), ONPATTRO (2035), AMVUTTRA (2036) will erode market protection [upcoming catalysts].
- High accumulated deficit — $6.70B accumulated deficit as of Dec 2025 reflects years of losses before recent profitability [sec_mda · as of 2026-02-12].
- Dependence on partnerships — Revenue includes royalties from collaborators (Leqvio, Qfitlia); partner performance affects income [sec_mda · as of 2026-02-12].
What to watch
- Phase 3 topline results for HELIOS-B (vutrisiran in ATTR cardiomyopathy) expected December 2, 2026 [upcoming catalysts].
- Initiation and enrollment progress of Phase 3 TRITON-PN and TRITON-CM trials for nucresiran [sec_mda · as of 2026-02-12].
- ZENITH cardiovascular outcomes trial for zilebesiran in hypertension [sec_mda · as of 2026-02-12].
- Revenue growth trajectory and ability to sustain profitability beyond 2025 [sec_mda · as of 2026-02-12].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
14.3 months
D/E 3.11 · 4% dilution
No tracked pipeline phase
No tracked pipeline candidates
9 upcoming, next in ~94d
0 buys · 75 sells (180d)
Runway
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
783
Total value held
$33.55B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 14,579,166 | $4.82B |
| vanguard capital management llc | 11,893,412 | $3.94B |
| blackrock, inc. | 10,444,908 | $3.46B |
| vanguard portfolio management llc | 6,491,280 | $2.15B |
| state street corp | 3,322,698 | $1.10B |
| geode capital management, llc | 2,660,385 | $884.6M |
| baillie gifford & co | 2,493,866 | $825.1M |
| two sigma investments, lp | 1,992,577 | $659.3M |
| wellington management group llp | 1,935,925 | $640.5M |
| dodge & cox | 1,929,253 | $638.3M |
Showing top 10 of 783 institutional holders of ALNYLAM PHARMACEUTICALS, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 5.0%
- Days to cover
- 4.4
- Shares short
- 5,034,063
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ALNY short interestGovernance
Frequently asked questions
What is the AI investment thesis for ALNYLAM PHARMACEUTICALS, INC.?
Alnylam Pharmaceuticals is a global commercial-stage biopharmaceutical company that discovers, develops, manufactures and commercializes novel RNAi therapeutics, with six approved products and a deep pipeline targeting rare and prevalent diseases [sec_mda · as of 2026-02-12].
What is ALNYLAM PHARMACEUTICALS, INC.'s next catalyst?
ALNYLAM PHARMACEUTICALS, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: HELIOS-B: A Phase 3, Randomized, Double-blind, Placebo-controlled, Multicenter Study to Evaluate the" — expected December 2, 2026.
Who is the CEO of ALNYLAM PHARMACEUTICALS, INC.?
Dr. Yvonne L. Greenstreet M.B.A., M.D. is the chief executive officer of ALNYLAM PHARMACEUTICALS, INC. (ALNY).
Where is ALNYLAM PHARMACEUTICALS, INC. headquartered?
ALNYLAM PHARMACEUTICALS, INC. (ALNY) is headquartered in Cambridge, MA, United States.
What therapeutic areas does ALNYLAM PHARMACEUTICALS, INC. focus on?
ALNYLAM PHARMACEUTICALS, INC. develops therapies across Oncology, Rare Disease, Neurology, Cardiovascular, Metabolic, Dermatology, Hematology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.