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Alnylam posts first $1B-plus quarterly product revenue as RNAi rebounds
In Q1 2026, the company reported $1.036 billion in net product revenue, helped by AMVUTTRA and a broader rise in rare disease franchise sales.
Alnylam Pharmaceuticals is showing a major shift from biotech turnaround to profitability, after the RNA interference treatment market rebounded in 2026 and the company’s growth accelerated. Yahoo Finance highlights that venture funding for biotech startups reached $9.1 billion in the first half, the highest first-half total since 2022, while biotech IPOs raised $4.5 billion across 13 deals.
In its Q1 2026 results, Alnylam exceeded $1 billion in quarterly product revenue for the first time in company history, posting $1.036 billion in net product revenue, up 121% year over year and 4% versus the prior quarter. Total revenue rose to $1.17 billion, an increase of 96% year over year.
AMVUTTRA drove much of the quarter, generating $890 million, and bringing the total TTR franchise revenue, AMVUTTRA plus ONPATTRO, to $910 million, up 153% from the prior year. The rare disease franchise also contributed, with GIVLAARI and OXLUMO adding $126 million, up 15% year over year.
The earnings impact was equally notable. GAAP net income was $206 million in Q1 2026, compared with a $15.9 million loss a year earlier, and GAAP income from operations was $268.6 million versus a prior-year loss. Yahoo Finance also points to AMVUTTRA’s worldwide rollout reaching seven markets, with payment negotiations still ongoing in Spain and France.