This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
5/2/2024
here to automate a message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded, and I would now like to hand the conference over to the company for their remarks. Please go ahead.
Good morning. I'm Christine Lindenboom, Senior Vice President of Investor Relations and Corporate Communications at El Milam. With me today are Yvonne Greenstreet, Chief Executive Officer, Toby Pangular, Chief Commercial Officer, Push Gold's Garth, Chief Medical Officer, and Jeff Goulton, Chief Financial Officer. For those of you participating via conference call, the accompanying slides can be accessed by going to the Events section of the Investors page of our website, investors.l9lm.com. During today's call, as outlined in Slide 2, Yvonne will offer introductory remarks and provide some general context. Total will provide an update on our global commercial progress. Push Gold will review pipeline updates and clinical progress. Jeff will review our financials and guidance, followed by a summary of upcoming milestones before we open the call to your questions. I would like to remind you that this call will contain remarks concerning O'Neill & Schuster expectations, plans, and prospects, which constitute forward-looking statements for the purposes of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our most recently periodic report on file with SBC. In addition, any forward-looking statements represent our views only as the date of this recording and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update such statements. With that, I'll turn the call over to Yvonne. Yvonne?
Thanks, Christine, and thank you, everyone, for joining the call today. 2024 is off to a very strong start. and shaping up to be an impactful year for Alnylam. Commercially, in the first quarter, we delivered robust product revenue growth for our four wholly-owned medicines, achieving $365 million in revenue, or 32% year-over-year growth compared to Q1 2023. An important part of this was the continued momentum from our TTL franchise, which delivered 29% year-over-year growth versus Q1 2023. From a pipeline perspective, our Zarbisaran Hypertension Program was a major highlight, with positive results presented from the Cardio 2 Phase 2 study, evaluating Zarbisaran in combination with certain standard of care antihypertensives and the initiation of Cardio 3. This program represents a significant opportunity to reimagine the treatment of hypertension and to position our nylons as the leader in treating cardiovascular disease. To that end, we're on the cusp of reporting top-line results from the Helios B Phase III study of butyceram in patients with TTR amyloidosis with cardiomyopathy. As we've highlighted previously, we have many reasons to be highly confident in a positive Helios B outcome, including the encouraging data from the Apollo B study of butyceram. And we remain on track to report top-line data from Helios B in late June or early July, which, if positive, is expected to support the filing of an SNDA by the end of this year. With this progress, we continue to advance our Nilem P5 by 25 goals, making our Nilem a top-tier biotech, developing and commercializing transformative medicines for patients around the world with rare and prevalent diseases, driven by a high-yielding pipeline of first and or best-in-class product candidates from our organic product engine, all while delivering exceptional financial results. With that, let me now turn the call over to Tolga for a review of our commercial performance. Tolga?
You're reading a preview of the ALNY Q1 2024 earnings call.
Free account.
