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Alnylam Pharmaceuticals Reports Fourth Quarter and 2010 Financial Results
– Launched ‘Alnylam 5x15™’ Strategy, Advancing RNAi Therapeutic Products for Genetically Defined Diseases –
– Progressed Clinical Pipeline, Including ALN-TTR, ALN-VSP, and ALN-RSV –
– Demonstrated RNAi in Man with Systemically Delivered RNAi Therapeutics –
– Maintained Strong Balance Sheet with $350 Million in Cash –
CAMBRIDGE, Mass.--(BUSINESS WIRE)--February 17, 2011--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today reported its consolidated financial results for the fourth quarter and year ended December 31, 2010, and company highlights.
“The RNAi therapeutics field evidenced significant changes in 2010, but for Alnylam, the year was marked with unparalleled progress in our scientific and clinical efforts where we are stronger than ever. Notably, we demonstrated progress in systemic delivery with our lipid nanoparticle and conjugate delivery platforms, extended our human experience with systemic delivery for both safety and pharmacology, and, just recently, demonstrated definitive RNAi proof of mechanism in man. In aggregate, these are extremely important milestones in our overall efforts to advance RNAi therapeutic products to patients,” said John Maraganore, Ph.D., Chief Executive Officer of Alnylam. “Accordingly, now is the time for Alnylam to execute on a clear and definable plan that advances RNAi therapeutic products toward later stages of clinical development and to the market. Thus, we are effecting a transformation in our business with ‘Alnylam 5x15,’ a core strategic plan focused on RNAi therapeutic products for the treatment of genetically defined diseases and the advancement of innovative medicines that really matter.”
“The progress we made in 2010 has positioned Alnylam for an exciting time ahead, with execution on our ‘Alnylam 5x15’ strategy, more human proof-of-concept data expected from our clinical programs, and the advancement of additional partner-based development and clinical programs. Indeed, by the end of 2011 we expect to expand today’s three RNAi therapeutic products in the clinic to five programs overall, and to report new clinical data from up to three of our programs including ALN-TTR, ALN-PCS, and ALN-VSP,” said Barry Greene, President and Chief Operating Officer of Alnylam. “On the business front, we expect to form additional RNAi partnerships, including those related to our efforts on microRNA therapeutics with Regulus, and biologics manufacturing with Alnylam Biotherapeutics.”
The following information was filed by Alnylam Pharmaceuticals, Inc. (ALNY) on Thursday, February 17, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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