Earnings Call
Jul 30, 2026
Q2 FY2026
EPS Estimate
1.63
EPS Actual
1.21
Post-Earnings Close
$205.48
Earnings Reaction
-28.3%
Alnylam's second quarter marked a genuine commercial milestone, AMVUTTRA revenues exceeded $1 billion in a single quarter for the first time, generating an annualized run rate above $4 billion just 15 months into the ATTR cardiomyopathy launch. Total global net product revenues reached approximately $1.2 billion, up 74% year-over-year, with TTR revenues of $1.03 billion growing 89% versus the prior year period and 13% sequentially. The quarter represented a meaningful reacceleration from Q1, which management had flagged as seasonally softer. Underlying U.S. demand growth of $129 million in the quarter more than doubled Q1's demand growth, though reported revenue was partially offset by a $21 million inventory drawdown and continued modest net price erosion tracking to mid-single-digit declines year-over-year.
Report generated on Jul 31, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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