Alnylam Pharmaceuticals this week updated its financial guidance to include the impact of its payout to Tekmira Pharmaceuticals as part of the companies' litigation settlement deal.
As reported by Gene Silencing News, this week the companies announced that they had settled their longstanding legal battle. As part of the deal, Alnylam agreed to pay Tekmira $65 million now and $10 million in milestones expected for 2013.
Previously this month, Alnylam had said it expected to end 2012 with more than $280 million in cash, cash equivalents, and marketable securities (GSN 11/8/2012).
With the settlement, however, Alnylam said this week that it will take a $65 million charge in the fourth quarter, and it now expects its year-end cash position to be more than $215 million.