Alnylam Pharmaceuticals (ALNY) Q2 2017 Results - Earnings Call Transcript

ALNY Beats EPS Loss Estimates By $0.10. Misses On Revenues.

Alnylam Pharmaceuticals (ALNY) Q2 2017 Results – Earnings Call Transcript

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ALNY Beats EPS Alnylam Pharmaceuticals (NASDAQ:ALNY): Q2 EPS of -$1.07 beats by $0.15.

Revenue of $15.9M (+82.5% Y/Y) misses by $6.41M.

Executives

Christine Regan Lindenboom – Alnylam Pharmaceuticals, Inc.

John M. Maraganore, Ph.D. – Alnylam Pharmaceuticals, Inc.

Akshay K. Vaishnaw – Alnylam Pharmaceuticals, Inc.

Manmeet Singh Soni – Alnylam Pharmaceuticals, Inc.

Barry E. Greene – Alnylam Pharmaceuticals, Inc.

Yvonne Greenstreet – Alnylam Pharmaceuticals, Inc.

Analysts

Ritu Baral – Cowen & Co. LLC

Maury Raycroft – Jefferies LLC

Geoffrey Meacham – Barclays Capital, Inc.

Vincent Chen – Sanford C. Bernstein & Co. LLC

Paul A. Matteis – Leerink Partners LLC

Eliana Merle – Credit Suisse Securities (NYSE:USA) LLC

Anupam Rama – JPMorgan Securities LLC

Edward Tenthoff – Piper Jaffray & Co.

Christopher S. James – Ladenburg Thalmann & Co., Inc.

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Mike G. King – JMP Securities LLC

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Alnylam Pharmaceuticals Conference Call to discuss Second Quarter 2017 Financial Results. There will be a question-and-answer session to follow. Please be advised that this call is being taped at the company’s request.

I would now like to turn the call over to the company.

ALNY Beats EPS



Christine Regan Lindenboom – Alnylam Pharmaceuticals, Inc.

Good afternoon. I’m Christine Lindenboom, Vice President of Investor Relations and Corporate Communications at Alnylam. With me today are John Maraganore, our Chief Executive Officer; Barry Greene, President; Akshay Vaishnaw, Executive Vice President of R&D; and Manmeet Soni, Chief Financial Officer. In addition, Yvonne Greenstreet, Executive Vice President, Chief Operating Officer, is in the room and available for Q&A.

For those of you participating via conference call, the slides we have made available via webcast can also be accessed by going to the Investors page of our website, www.alnylam.com. The press release and related financial tables including a reconciliation of GAAP and non-GAAP net loss that we will discuss today can be found on the Investors page of our website. We believe non-GAAP net loss provides useful information to management and investors regarding our financial conditions and results of operations.

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During today’s call, as outlined on slide 2, John will provide some introductory remarks and provide general context, Akshay will review recent clinical updates, Manmeet will review our financials and Barry will provide a brief summary of upcoming milestones before opening the call for your questions.

Before we begin, 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 provisions 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 recently quarterly report on file with the SEC.

In addition, any forward-looking statements represent our views only as of the date of this recording and should not be relied upon as representing our view of any subsequent date. We specifically disclaim any obligation to update such statements.

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With that, I’d like to turn the call over to John.

John M. Maraganore, Ph.D. – Alnylam Pharmaceuticals, Inc.

Thanks, Christine, and thank you, everyone, for joining us this afternoon. During the second quarter of 2017 and recent period, we made continued and meaningful progress in advancing our investigational RNAi therapeutics through clinical trials and toward the market.

2017 promises to be a pivotal year for our company, as we open the envelope on our first Phase 3 results and prepare to make the anticipated regulatory filings for marketing approval and, assuming approval, make the transition to a commercial organization.

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