January 27, 2012: RNAi therapeutics company Alnylam Pharmaceuticals, Inc has announced a strategic corporate restructuring, including a reduction in its workforcem of about one-third. The company said it was realigning its focus on its highest-value opportunities with accelerated clinical development plans. These include its Alnylam 5x15 RNAi therapeutic product strategy with ALN-TTR for the treatment of transthyretin-mediated amyloidosis (ATTR) and ALN-APC for the treatment of hemophilia as lead programmes and advancement of other pipeline programmes with existing alliances and new partnerships.
Alnylam expects reduced personnel and other costs to result in a savings of about $20 million in 2012 cash operating expenses. The company estimates that it will incur one-time restructuring costs of about $4 million including employee severance, benefits, and related costs, which it expects to incur in the first quarter of the year. The company recently increased its year-end 2011 cash guidance to about $260 million, and will provide financial guidance for 2012 in connection with its 2011 financial results announcement in February.
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