Wider Loss for Alnylam – Analyst Blog
Zacks Market Commentaries (November 12th, 2009) Writes:
Alnylam Pharmaceuticals Inc. (ALNY) reported a third-quarter loss of 22 cents per share, below the Zacks Consensus Estimate of 24 cents but wider than the year-ago loss of 7 cents. The higher loss in the quarter is attributable to higher stock based compensation and legal expenses.
Revenues for the quarter came in at $24.2 million as against $25.7 million in the year-ago quarter, down 5.8%. Research and development costs increased 5% to $23.2 million primarily because of increased costs for clinical and pre-clinical programs coupled with increased R&D headcount to support Alnylam’s alliances and development programs. General and administrative expenses increased 56% to $10.7 million. The increase in general and administrative spend was primarily driven by higher professional service fees in association with business activities, primarily legal activities, coupled with increased stock based compensation expenses. Alnylam exited the quarter with $453.5 million in cash, cash equivalents and marketable securities
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