Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) stock plunged on Thursday after the company lowered its fiscal 2026 guidance.
The company reported second-quarter adjusted earnings of $1.84 per share, beating the consensus of $1.55.
Sales jumped 67% year over year to $1.291 billion, missing the consensus of $1.323 billion.
Achieved global net product revenues for Amvuttra and Onpattro for the second quarter of $1,012 million and $18 million, respectively.
Amvuttra and Onpattro are prescription gene-silencing medicines that treat nerve damage caused by a rare genetic disease called hereditary transthyretin-mediated (hATTR) amyloidosis.
Guidance Cut Reflects Slowing Growth In ATTR-CM Market
Alnylam lowered TTR product sales guidance for full-year 2026 to reflect learnings from the initial phase of launch in the evolving ATTR-CM market, in particular the normalization of growth in second-line volume after satisfying pent-up demand from patients waiting for a new therapy.
The company now expects fiscal 2026 sales guidance of $5.275 billion-$5.725 billion compared to prior guidance of $5.30 billion-$5.80 billion, and Wall Street estimate of $5.58 billion.
Ionis Trial Failure Raises Questions For ATTR-CM Developers
In July, Ionis Pharmaceuticals Inc. (NASDAQ:IONS) and partner AstraZeneca Plc (NYSE:AZN) said on Thursday that their Phase 3 CARDIO-TTRansform study of eplontersen for transthyretin-mediated amyloid cardiomyopathy (ATTR-CM) failed to meet its primary efficacy endpoint.
Alnylam is also developing Nucresiran, currently in the Phase 3 TRITON‑CM trial for ATTR-CM.
Alnylam Reaffirms Confidence In Nucresiran Program
Pushkal Garg, Chief Research & Development Officer, said, “We understand that there have been many questions raised about the feasibility of delivering positive results from this clinical trial.”
He added, “I want to assure you that we remain highly confident in nucrisiran and TRITON-CM.”
ALNY Price Action: Alnylam Pharmaceuticals shares were down 29.27% at $202.74 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.
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