WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

          Date of Report (Date of earliest event reported): May 9, 2007

                          Alnylam Pharmaceuticals, Inc.
               (Exact Name of Registrant as Specified in Charter)

         Delaware                  000-50743                    77-0602661
   (State or Other Juris-         (Commission                 (IRS Employer
  diction of Incorporation)       File Number)              Identification No.)

       300 Third Street, Cambridge, MA                   02142
  (Address of Principal Executive Offices)             (Zip Code)

       Registrant's telephone number, including area code: (617) 551-8200

                                 Not applicable
          (Former Name or Former Address, if Changed Since Last Report)

         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

       |_|  Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

       |_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

       |_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

       |_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

         On May 9, 2007, Alnylam Pharmaceuticals, Inc. announced its financial
results for the quarter ended March 31, 2007. The full text of the press release
issued in connection with the announcement is furnished as Exhibit 99.1 to this
Current Report on Form 8-K.

         The information in this Form 8-K (including Exhibit 99.1) shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
(the "Exchange Act") or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933 or the Exchange Act, except as expressly set forth by
specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

  (c)   Exhibits

        The following exhibit relating to Item 2.02 shall be deemed to be
furnished, and not filed:

        99.1     Press Release dated May 9, 2007.


          Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  May 9, 2007                ALNYLAM PHARMACEUTICALS, INC.

                                  By:  /s/ John M. Maraganore
                                       John M. Maraganore
                                       President and Chief Executive Officer

                                  EXHIBIT INDEX

Exhibit No.                     Description
-----------------------------   ------------------------------------

99.1                            Press Release dated May 9, 2007