Alnylam's Founding CEO John Maraganore To Exit The Company

  • In a surprise announcement, Alnylam Pharmaceuticals Inc's ALNY founding CEO John Maraganore will hand the reins to current president Yvonne Greenstreet at the end of the year.
  • The transition marks the end of a 20-year run as the founding CEO of the Company.
  • Maraganore will stay on through the first quarter as a consultant and take a seat on Alnylam's scientific advisory board.
  • Alnylam also reported Q3 sales of $187.6 million, +49% Y/Y, missing the consensus of $218.69 million. Product revenue increased 68% to $167 million.
  • Onpattro sales increased 6% to $120 million with 1,875 hATTR amyloidosis patients.
  • Givlaari sales increased 4% to $32 million and attained over 300 patients.
  • Oxlumo sales decreased 9% to 15 million, reflecting the transition of the initial bolus of commercial patients from monthly loading dose to quarterly maintenance dose regimens. It attained over 120 patients worldwide.
  • The Company posted an adjusted EPS loss of $(1.51), down from $(1.58) a year ago and better than the consensus of $(1.57).
  • Guidance: Alnylam reiterated FY21 product sales at $640 million - $665 million.
  • Price Action: ALNY shares are down 14.5% at $163.42 during the market session on the last check Thursday.

 

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