Alnylam Reports Strong Q2 2026 Revenue Growth but Lowers TTR Sales Guidance — Alnylam Pharmaceuticals, Inc.

Event summary

Alnylam reported $1.29 billion in total revenues for Q2 2026, up 67% year-over-year.
TTR product revenues (AMVUTTRA and ONPATTRO) reached $1.03 billion, an 89% increase from Q2 2025.
The company lowered its full-year TTR revenue guidance to $4.2–$4.5 billion due to normalized growth in the ATTR-CM market.
Alnylam initiated Phase 2 trials for ALN-6400 in von Willebrand disease and mivelsiran in Down syndrome-associated Alzheimer’s disease.

The big picture

Alnylam’s Q2 2026 results highlight its leadership in RNAi therapeutics, particularly with AMVUTTRA’s strong performance. However, the lowered TTR sales guidance reflects the challenges of maintaining rapid growth in a maturing market. The company’s continued investment in its pipeline and strategic collaborations positions it to capitalize on long-term opportunities in rare diseases and neurodegenerative conditions.

What we're watching

Market Penetration: How Alnylam will sustain AMVUTTRA’s growth in the ATTR-CM market after initial pent-up demand fades.
Pipeline Progress: Whether the Phase 2 trials for ALN-6400 and mivelsiran will yield positive results, expanding Alnylam’s therapeutic portfolio.
Regulatory Milestones: The pace at which Regeneron’s cemdisiran application progresses through FDA and EMA reviews, potentially impacting collaboration revenues.