Alnylam Pharmaceuticals Q3 net loss widens

Alnylam Pharmaceuticals, Inc., an RNAi therapeutics company, has reported that net loss for the third quarter ended September 30, 2012 was $19.50 million, or $0.38 loss per share, compared to a net loss of $13.24 million, or $0.31 loss per share, for the same quarter ended September 30, 2011.

Net revenues from research collaborators for the third quarter of 2012 were $16.76 million, compared to $20.79 million for the same quarter of 2011.

Net loss for the nine months ended September 30, 2012 was $43.83 million, or $0.88 loss per share, compared to a net loss of $43.35 million, or $1.02 loss per share, for the same period ended September 30, 2011.

Net revenues from research collaborators for the nine months ended September 30, 2012 were $58.23 million, compared to $62.30 million for the same period ended September 30, 2011.

"Alnylam continues to maintain a solid financial profile, ending the third quarter with approximately $296 million in cash, which excludes the upfront payment of $22.5 million from our recent alliance with Genzyme which was received in the fourth quarter," said Michael Mason, vice president, finance and treasurer of Alnylam. "Due to our successful business development activities, we now believe we will end 2012 with greater than $280 million in cash, which will continue to provide us with a strong balance sheet as we advance our RNAi therapeutics through clinical trials and toward the market."