Alnylam 2Q loss widens on higher expenses

Associated Press

Cambridge biopharmaceutical company Alnylam Pharmaceuticals Inc. reported a wider second-quarter loss on higher expenses for development of its "gene silencing" drug candidates.

Late Thursday, the company said it lost $22.7 million, or 55 cents per share, compared with a loss of $12.8 million, or 31 cents per share, during the same period a year prior. Revenue, which comes from research collaborations, rose slightly to $24.6 million from $23.8 million.

Analysts polled by Thomson Reuters expected a loss of 49 cents per share on revenue of $26.1 million.

The company's partners include Takeda Pharmaceutical Company Ltd., Roche, Novartis, and several others. Alnylam's products use RNA interference technology, which is intended to shut down the protein at the root of a disease or condition.

Operating expenses rose 28 percent to $47 million. Alnylam is developing treatments for the respiratory syncytial virus, which is an infection in adult lung transplant patients, along with a liver cancer treatment.