Washington, D.C.20549____________________________________________ FORM 10-Q____________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended June30, 2026 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ ALNYLAM PHARMACEUTICALS, INC. (Exact Name of Registrant as Specified in Its Charter)__________________________________________ Delaware(State or Other Jurisdiction ofIncorporation or Organization) 675 West Kendall Street,Henri A. Termeer SquareCambridge, MA(Address of Principal Executive Offices) 02142(Zip Code) (617) 551-8200(Registrant’s Telephone Number, Including Area Code)__________________________________________ Securities registered pursuant to Section12(b) of the Act: Name of Each Exchange on WhichRegistered Trading Symbol(s) Title of Each Class Common Stock, $0.01par value pershare The Nasdaq Stock Market LLC ALNY Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days.YesNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).YesNo☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No ALNYLAM PHARMACEUTICALS, INC.QUARTERLY REPORT ON FORM10-Q TABLE OF CONTENTS PAGENUMBERPART I.FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTS (UNAUDITED)CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2026 AND DECEMBER 31, 20255CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) FORTHE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 20256CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE THREE MONTHSENDED JUNE 30, 2026 AND 2025AND THE THREE MONTHS ENDED MARCH 31, 2026 AND 20257CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026AND 20259NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS10ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS30ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK42ITEM 4. CONTROLS AND PROCEDURES42PART II.OTHER INFORMATIONITEM 1. LEGAL PROCEEDINGS44ITEM 1A. RISK FACTORS44ITEM 5. OTHER INFORMATION82ITEM 6. EXHIBITS82SIGNATURES83 “Alnylam,”AMVUTTRA ,ONPATTRO ,GIVLAARIOXLUMOandsiRELISareregistered trademarks of AlnylamPharmaceuticals, Inc. Our logo, trademarks and service marks are property of Alnylam. All other trademarks or service marks appearing inthis Quarterly Report on Form 10-Q are the property of their respective holders.®®®,®TM CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend these forward-looking statements to becovered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 andare including this statement for purposes of complying with those safe harbor provisions. All statements other than statements of historicalfact contained in this Quarterly Report on Form 10-Q are forward-looking statements. In some cases, you can identify forward-lookingstatements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “aspires,” “anticipates,” “believes,”“estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These forward-lookingstatements include, but are not limited to, statements about: •our expectations regarding future revenues, expenses, margins, profitability, cash flows, capital expenditure