2026 has marked a significant turning point in biotech capital markets, not just a small comeback. Venture funding for biotech startups reached $9.1 billion in the first half of the year, the highest first-half total since 2022, while 13 biotech IPOs raised a combined $4.5 billion, with a median haul of nearly $302 million per offering, unusually high by recent standards, with the majority of this year's debutants still trading above their offering price. Dealmaking has also maintained its pace, with 38 acquisitions closing in the same time period, placing the industry at its fastest M&A pace in at least seven years.
Underneath that broad comeback is a more unique validation story for RNA interference in particular. The market for RNAi treatments is expected to rise from $2.9 billion in 2025 to $3.6 billion in 2026. This growth comes after RNAi spent nearly two decades as a research curiosity before receiving its first licensed medicine in 2018. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) has recently emerged as the clearest example of this transition, and the market's reaction raises the question of whether the story has been properly priced.
During Q1 2026, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) exceeded $1 billion in quarterly product revenue for the first time in its history, with $1.036 billion in net product revenue, up 121% year-over-year and 4% sequentially over Q4 2025, on total revenue of $1.17 billion, up 96% year-over-year. AMVUTTRA alone delivered $890 million, bringing total TTR franchise revenue (AMVUTTRA plus ONPATTRO) to $910 million, up 153% from the previous year.
That growth completely flipped the company's bottom line: GAAP net income was $206 million, compared to a $15.9 million loss in the same quarter the previous year, and GAAP income from operations came in at $268.6 million, up from a prior-year loss. A company that continued to burn cash a year ago is now solidly profitable on a GAAP basis.
The growth is also not driven by a single medicine, which is important for long-term viability. The rare disease franchise, GIVLAARI and OXLUMO, added $126 million, increasing 15% year-over-year, while AMVUTTRA's worldwide rollout has reached seven markets, with payment negotiations still ongoing in the Spanish and French markets. This means that a significant portion of the revenue base is yet to be released.

#revenue #first #gaap #markets

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Wednesday, July 22, 2026 at 2:00 a.m. ET
Head of Investor Relations - Brd Glad Pedersen
CFO - Torgrim Reitan
Operator: I would like to turn the call over to Bård Glad Pedersen, Head of Investor Relations. Bård, you may begin.

#fool #wednesday

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A collapsing stock price can make it look like a company is falling apart. Amazon (NASDAQ:AMZN) founder Jeff Bezos says that's exactly when founders need to pay the least attention to the market—and the most attention to the business they're building.
Speaking at Italian Tech Week 2025, Bezos reflected on the dot-com crash, when Amazon's stock plunged from $113 per share to $6 per share in just a few months.
"Shareholders were upset, employees were nervous…this was the environment of great nervousness," Bezos said.
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#NASDAQ

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Mortgage rates are lower than this time last year, but they're still nowhere near the 3% range we saw in 2020 and 2021. However, there is a way to lower your mortgage costs: a buydown interest rate.
With this method, you pay more at closing to lower your mortgage interest rate. While it costs more money up front, it can lead to greater savings over the life of the loan. But it's a more beneficial tactic if you plan to stay in the home for a while — the longer you keep the mortgage, the more you'll save by buying down the rate.
While there are perks to having a lower mortgage rate, there are also factors to consider before buying down your interest rate.
When you buy down your mortgage rate, you pay extra money at closing to purchase points that essentially lower your interest rate.

#down #closing

Investors dumping chip stocks hand over fist this summer may be forgetting something important: the strong fundamentals of the underlying companies.
Quick insight: JPMorgan is one of the first sell-side firms to come out bullish in the wake of the chip stock rout.
Others could soon follow, given the depth of the sell-off.
"We think that semis will find a floor soon on continued strong earnings delivery," JPMorgan strategist Mislav Matejka said in a note on Monday.
"Our view is that fundamentals will likely remain constructive, as meaningful supply additions are not due before 2028, so it would be too early at present to price in an inflection … if hyperscalers capex guidance remains strong, then we think that investors should step back into the ****** e over summer," Matejka said.

#investors #chip #fundamentals #think

Santa Clara, California-based Advanced Micro Devices, Inc. (AMD) is a semiconductor company that offers artificial intelligence accelerators, microprocessors, graphics processing units (GPUs), chipsets, and data center and professional GPUs, and more. Valued at a market capitalization of $893.8 billion, the company operates through Data Center, Client and Gaming, and Embedded segments.
AMD is expected to release its Q2 2026 earnings on Tuesday, Aug. 4, after the market closes. Ahead of the event, ******* ysts expect the company's EPS to be $1.34 on a diluted basis, up 396.3% from $0.27 in the year-ago quarter. The company has met or exceeded Wall Street's EPS estimates in three of its last four quarters, while missing on one occasion.
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General Fusion began trading on the Nasdaq today under the ticker GFUZ, becoming the first publicly listed fusion power company, beating competitor and Trump-backed TAE Technologies by several months.
And investors seemed to want in. The stock rallied as trading began Monday and is now up 40% from $12.85 as of 12:50 p.m. ET.
General Fusion announced in January that it would merge with Spring Valley Acquisition Corp. III, and the transaction was completed last week.
Without redemptions, the fusion power company could have added as much as $230 million to its balance sheet. But most de-SPAC deals see a wave of redemptions before the merger completes. This one is no exception, and while the company hasn't disclosed the exact amount yet, a report in the Globe and Mail estimates that General Fusion might receive less than $30 million after redemptions and fees.
Alongside the de-SPAC, General Fusion also raised $108 million from private investors. Altogether, the company says it holds about $150 million in cash.

July 7 (Reuters) - The world's largest technology companies are tapping debt markets and raising equity to bolster AI infrastructure, marking a shift for Silicon Valley firms that typically relied on cash to fund their investments.
Alphabet, Amazon, Microsoft and Meta signaled in April that spending on AI would not slow down. Tech giants' combined spending is now set ‌to exceed $700 billion this year, up from about $600 billion previously.
The AI boom has entered a "more dangerous phase," marked by exponentially rising investments in physical infrastructure and growing reliance on outside capital, ‌according to an **** ysis by Bridgewater **** ociates in February.
AMAZON
Amazon.com is looking to raise at least $25 billion from the U.S. bond market, Bloomberg News reported, citing people familiar with the matter.

The Allstate Corporation (ALL), headquartered in Northbrook, Illinois, provides property and casualty, and other insurance products. Valued at $64.4 billion by market cap, the company sells private passenger automobile and homeowners insurance through independent and specialized brokers, as well as life insurance, annuity, and group pension products through agents. The leading U.S. personal-line insurer is expected to announce its fiscal second-quarter earnings for 2026 in the near term.
Ahead of the event, ***** ysts expect ALL to report a profit of $4.90 per share on a diluted basis, down 17.5% from $5.94 per share in the year-ago quarter. The company has consistently surpassed Wall Street's EPS estimates in its last four quarterly reports.
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One of the most important stocks in the market (given its size), Meta Platforms (META), continues to be a stock I, and plenty of others, remain very bullish on long-term.
Much of that has to do with the company's rock-solid underlying business. A leading social media and online advertising giant, Meta's ecosystem, consisting of Facebook, Instagram, WhatsApp, and plenty of other key applications the vast majority of us use every day, makes this a company that passes the "toothbrush test" (we need to use it twice a day).
Sentiment Could Be Turning Sour on Nvidia. Here's Where 1 ****** yst Thinks NVDA Stock Is Headed Next.
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Dear Netflix Stock Fans, Mark Your Calendars for July 16