Alnylam Trims Full-Year TTR Franchise Guidance at Morgan Stanley Conference Even as AMVUTTRA (Vutrisiran) ATTR-CM Launch Momentum Continues; Early Demand Mix Normalizing
Alnylam Pharmaceuticals (NASDAQ: ALNY) presented Monday September 14, 2026 at 10:00 a.m. ET at the Morgan Stanley 24th Annual Global Healthcare Conference in New York with CEO Yvonne Greenstreet and John Kennedy (SVP Global Commercialization / TTR Franchise Lead), disclosing a modest trim to full-year TTR franchise revenue guidance as early AMVUTTRA (vutrisiran, subcutaneous RNAi TTR silencer approved March 2025 for adults with ATTR amyloidosis with cardiomyopathy) launch demand normalized. Management emphasized the underlying market remains large and underdiagnosed, physician adoption is strong, and pipeline funding from AMVUTTRA commercial success is not at risk. AMVUTTRA competes in ATTR-CM against Pfizer's Vyndaqel/Vyndamax (tafamidis, oral small-molecule stabilizer) plus the recently launched BridgeBio Attruby (acoramidis, oral) — the launch mix has shifted as switch-from-tafamidis patients and treatment-naive patients balance out. HELIOS-B Phase 3 data anchored the approval with a 33% reduction in the composite of all-cause mortality plus recurrent cardiovascular events at 36 months. The trim adds nuance to the Alnylam commercial story that had run largely positive through Q2 2026 earnings; investors focused on the deeper pipeline (nucresiran next-generation TTR silencer plus the broader RNAi platform) rather than the near-term guidance move.