CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Alnylam Pharmaceuticals Inc. (ALNY) on Thursday reported second-quarter net income of $164.5 million, after reporting a loss in the same period a year earlier.
The Cambridge, Massachusetts-based company said it had profit of $1.21 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.84 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The RNA interference drug developer posted revenue of $1.29 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $1.32 billion.
Alnylam expects full-year revenue in the range of $4.7 billion to $5.1 billion.
Alnylam shares have fallen 28% since the beginning of the year. The stock has dropped 13% in the last 12 months.
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