Alnylam Pharma Q3 Loss Widens, But Meets View - Quick Facts

(RTTNews) - Alnylam Pharmaceuticals Inc (ALNY) reported a loss for the third quarter that widened from last year on lower revenues and higher expenses. However, loss per share matched analysts' expectations, while revenues missed their estimates.

The company's third-quarter net loss widened to $76.79 million or $0.91 per share from net loss of $43.99 million or $0.58 per share in the same period last year. The latest quarter's results include $11.8 million, or $0.14 per share of non-cash stock-based compensation expense.

On average, twelve analysts polled by Thomson Reuters estimated the company to report loss of $0.91 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $6.32 million from $10.97 million in the prior-year quarter. Analysts had a consensus revenue estimate of $7.55 million for the quarter.

The decline in revenues was due primarily to the completion of the company's performance obligations under the Monsanto agreement in February 2015 and the completion of its revenue amortization under the Takeda agreement in May 2015. These were partially offset by an increase in revenue recognized under agreements with The Medicines Company and Genzyme.

Operating expenses climbed to $84.65 million from $56.17 million a year ago.