Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock trades on The Nasdaq Global Select Market under the symbol “ALNY.”
Holders of Record
At January 29, 2021, there were 27 holders of record of our common stock. Because many of our shares are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial holders represented by these record holders.
Securities Authorized for Issuance Under Equity Compensation Plans
We intend to file with the SEC a definitive Proxy Statement, which we refer to herein as the Proxy Statement, not later than 120 days after the close of the fiscal year ended December 31, 2020. The information required by this item relating to our equity compensation plans is incorporated herein by reference to the information contained under the section captioned “Equity Compensation Plan Information” of the Proxy Statement.
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Stock Performance Graph
The following performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
The comparative stock performance graph below compares the five-year cumulative total stockholder return (assuming reinvestment of dividends, if any) from investing $100 on the last trading day of 2015, to the close of the last trading day of 2020, in each of our common stock and the selected indices. The stock price performance reflected in the graph below is not necessarily indicative of future price performance.
Comparison of Five-Year Cumulative Total Return
Among Alnylam Pharmaceuticals, Inc.,
Nasdaq Composite Total Return and Nasdaq Biotechnology Total Return
12/31/2015 12/30/2016 12/29/2017 12/31/2018 12/31/2019 12/31/2020
Alnylam Pharmaceuticals, Inc. $ 100.00 $ 39.77 $ 134.96 $ 77.45 $ 122.34 $ 138.06
Nasdaq Composite Total Return $ 100.00 $ 108.87 $ 141.13 $ 137.12 $ 187.44 $ 271.64
Nasdaq Biotechnology Total Return $ 100.00 $ 78.65 $ 95.67 $ 87.19 $ 109.08 $ 137.90
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
The following selected consolidated financial data for each of the five years in the period ended December 31, 2020 are derived from our audited consolidated financial statements. The selected consolidated financial data set forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the
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financial statements, and the related Notes, included elsewhere in this annual report on Form 10-K. Historical results are not necessarily indicative of future results.
Selected Consolidated Financial Data
(In thousands, except per share data)
Year Ended December 31,
2020 2019 2018 (2) 2017 2016
Statements of Operations Data:
Revenues $ 492,853 $ 219,750 $ 74,908 $ 89,912 $ 47,159
Operating costs and expenses (1) 1,321,291 1,159,181 889,581 590,000 471,746
Loss from operations (828,438) (939,431) (814,673) (500,088) (424,587)
Net loss $ (858,281) $ (886,116) $ (761,497) $ (490,874) $ (410,108)
Net loss per common share — basic and diluted $ (7.46) $ (8.11) $ (7.57) $ (5.42) $ (4.79)
Weighted-average common shares outstanding — basic
and diluted 114,986 109,264 100,590 90,554 85,596
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(1) Stock-based compensation expenses included in operating costs and expenses $ 139,873 $ 174,841 $ 157,752 $ 92,819 $ 75,528
(2) On January 1, 2018, we adopted the new revenue standard by applying the modified retrospective method to all contracts that were not completed as of January 1, 2018. Please read Note 2 to our consolidated financial statements included in Part II, Item 8, “Financial Statements and Supplementary Data,” in our annual report on Form 10-K for the fiscal year ended December 31, 2019 that was filed with the SEC on February 13, 2020 for further discussion of our adoption of the revenue standard.
December 31,
2020 2019 2018 2017 2016 (1)
Balance Sheet Data:
Cash, cash equivalents and marketable securities $ 1,874,395 $ 1,536,162 $ 1,084,155 $ 1,704,537 $ 942,601
Restricted investments 40,725 14,825 44,825 30,000 150,000
Working capital 2,029,507 1,363,270 1,021,202 1,620,489 540,178
Total assets 3,407,061 2,395,134 1,574,802 1,994,730 1,262,810
Liability related to the sale of future royalties, net of current portion (Note 5) 1,058,225 — — — —
Long-term debt 191,278 — 30,000 30,000 150,000
Total stockholders’ equity 1,016,247 1,438,692 1,301,965 1,766,431 920,221
(1) Excluding our investment in equity securities of Regulus Therapeutics, Inc.