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Alnylam Pharmaceuticals Reports Fourth Quarter and Full Year 2011 Financial Results
– Achieved Positive Clinical Data in Multiple RNAi Therapeutics Programs Including RNAi Proof of Mechanism with ALN-VSP for Liver Cancers, Human Proof of Concept with ALN-TTR for Transthyretin-Mediated Amyloidosis, and Clinical Efficacy with ALN-PCS for Severe Hypercholesterolemia –
– Progressed Additional ‘Alnylam 5x15’ RNAi Therapeutics Programs in Hemophilia, Refractory Anemia, and Hemoglobinopathies –
– Maintained Strong Balance Sheet with $261 Million in Cash, and Expects to End 2012 with Greater than $180 Million in Cash –
CAMBRIDGE, Mass.--(BUSINESS WIRE)--February 9, 2012--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, today reported its consolidated financial results for the fourth quarter and full year 2011, and company highlights.
“2011 was a year of remarkable clinical achievement for Alnylam and for RNAi therapeutics. Notably, we reported on positive clinical data in three distinct programs over the past 12 months, including human proof of RNAi mechanism in our ALN-VSP liver cancer program, human proof of concept in our ALN-TTR program for transthyretin-mediated amyloidosis, and clinical efficacy in our ALN-PCS severe hypercholesterolemia program,” said John Maraganore, Ph.D., Chief Executive Officer of Alnylam. “With these important accomplishments in hand, we are now more confident than ever in our ability to harness the RNAi pathway for the development of high impact, innovative medicines as defined in our ‘Alnylam 5x15’ product strategy, focused on genetically defined targets and diseases with high unmet medical need.”
“With clear evidence that RNAi can work in patients, our strategy in 2012 is to focus our near term ‘Alnylam 5x15’ efforts on what we believe to be our highest value opportunities, driving key programs toward pivotal trials,” said Barry Greene, President and Chief Operating Officer of Alnylam. “Indeed, we believe we are positioned to drive a focused execution of key programs toward the market. This includes accelerated clinical development plans for ALN-TTR, which we believe has the potential to become the leading innovative medicine for the treatment of transthyretin-mediated amyloidosis. It also includes ALN-APC, our RNAi therapeutic for the treatment of hemophilia, which represents an exciting opportunity to fundamentally change the management of this genetic disease. We plan to continue to advance additional programs with existing partners and new alliances we intend to form.”
The following information was filed by Alnylam Pharmaceuticals, Inc. (ALNY) on Thursday, February 9, 2012 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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