ALNY - Alnylam falls 9% after Q1 earnings miss cut in 2022 net product revenues guidance

Alnylam Pharmaceuticals (NASDAQ:ALNY) stock has lost 9% to $140.98 in Thursday afternoon trade, after the company reported a miss on Q1 2022 earnings and cut guidance for 2022 combined net product revenues. ALNY posted Q1 non-GAAP EPS of -$1.49, which missed estimates by $0.03. Revenue of $213.26M also missed expectations by $29.56M. The company also slashed its 2022 combined net product revenues guidance to a range of $870M-$930M from $900M-$1B. However, it kept its forecast for net revenues from collaborations and royalties unchanged. Though Q1 total net product revenues grew 37.6% Y/Y, they were down sequentially from Q4 2021 as that quarter saw several non-recurring revenue benefits, ALNY said. Due to its operating loss in Q1, ALNY's cash and cash equivalents fell to $2.24B as of March 31 vs. $2.44B as of Dec. 31. Earlier in Q1, ALNY filed a patent infringement lawsuit against Pfizer (PFE) and Moderna (MRNA) over

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Alnylam falls 9% after Q1 earnings miss, cut in 2022 net product revenues guidance