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Alnylam reports a deeper loss

Associated Press / November 4, 2010

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CAMBRIDGE — RNA drug developer Alnylam Pharmaceuticals Inc. reported a deeper third-quarter loss yesterday as it started a new clinical trial.

The company said it lost $9.6 million, or 23 cents per share in the three months ended Sept. 30. That compares with a loss of $9.2 million, or 22 cents per share, one year ago. Its revenue rose 14 percent, to $27.7 million from $24.2 million.

Analysts expected a wider loss of 40 cents per share and lower revenue of $25.3 million, according to a survey by Thomson Reuters.

Alnylam researches drugs that are designed to shut down the protein at the root of a disease or condition. Its research and development costs increased after it started a clinical trial of a drug intended to treat transthyretin-mediated amyloidosis, a hereditary condition in which abnormal proteins build up in the organs and tissue, which can cause damage to the nerves and the heart.