Alnylam missed Q4 2025 earnings estimates, posted a net loss, and saw its stock drop despite strong revenue growth and 2026 guidance.

Alnylam Pharmaceuticals reported a Q4 2025 net loss of $0.82 per share, missing estimates, and revenue of $1.10 billion, below expectations, though up 84.9% year-over-year, driven by strong sales of AMVUTTRA for ATTR-CM. The company achieved full-year GAAP profitability and reiterated 2026 revenue guidance of $4.9–$5.3 billion. It introduced long-term “Alnylam 2030” goals, including over 25% revenue growth and ~30% non-GAAP margins. Despite near-term margin pressure from royalties and pricing, the company launched three new Phase 3 trials and a new manufacturing platform. Stock dipped to $306.53 amid insider sales, with analysts maintaining a “Moderate Buy” rating.