Alnylam Pharmaceuticals this week reported a lower second-quarter net loss amid a sharp decrease in research and development spending.
The company's loss for the quarter dipped to $14.6 million, or $0.35 a share, from $22.7 million, or $0.12 per share, the year before. Alnylam attributed the decrease to a $11 million payment made to partner Isis Pharmaceuticals last year related to an agreement over single-stranded RNAi technology (GSN 4/30/2009).
Alnylam's revenues in the second quarter rose slightly to $26.6 million from $24.6 million the year before, and included $14 million in collaborative revenue from Roche, $5.6 million related to its alliance with Takeda Pharmaceuticals, and $1.9 million in license fees from Regulus Therapeutics, Alnylam's microRNA drugs joint venture with Isis.
Research and development spending in the quarter fell to $28.1 million from $38.6 million the prior year, again partially related to the ssRNAi payment to Isis. Meanwhile, general and administrative costs edged up to $10.1 million from $8.4 million.
As of June 30, Alnylam had cash, cash equivalents, and marketable securities totaling $396.9 million. The company said it expects to end 2010 with greater than $325 million.