Cautious Outlook for Alnylam Pharma Amid Mixed Sales Trends and VolatilityWe analyzed IQVIA monthly Amvuttra sales data for the month of October, implying a decrease of -11% m/m (vs. September; Exhibit 1 ) compared to a +24% increase the prior month. We note this is consistent with trends during prior quarters where sales tend to be down m/m during the first month of most quarters (range: -3% to -25%). Importantly, sales grew +37% in October vs. July, the first months of Q4 and Q3, respectively. Additionally (note here), monthly US Amvuttra scripts as captured by Symphony grew an estimated +12% m/m in October (vs. September), further suggesting trends remain strong . As a reminder (note here), Alnylam guided to 4Q25 TTR revenue (WW Amvuttra + Onpattro) of $847-$897M (midpoint: $872M) which implies sequential growth of +17-24% q/q (midpoint: +20%).