Alnylam outlines 2009 goals

Alnylam Pharmaceuticals Inc., a Cambridge company focused on RNAi therapeutics, said that one of its goals for 2009 is to form at least two additional major new alliances to develop drugs.

Last week, the company disclosed a strategic collaboration with Cubist Pharmaceuticals Inc. of Lexington, Alnylam's 10th major alliance since its founding; those alliances have collectively yielded $660 million in "realized funding," Alnylam said.

The company also said in a press release: "Alnylam is on track to achieve a 2008 year-end cash position of greater than $500 million at December 31, 2008. In 2009, Alnylam aims to maintain its solid financial position while executing on its product and business goals and expects to end the year with greater than $435 million in cash. The company has also guided that it will end 2009 with a non-GAAP cash net operating loss of approximately $35 to $45 million."

Alnylam is focused on RNA interference, or RNAi, a naturally occurring mechanism within cells for selectively silencing and regulating specific genes; RNAi is believed to have great potential in treating diseases.

To read Alynylam's press release, please click here.
(By Chris Reidy, Globe staff)