Direct Answer
264 SEC filers are classified under the Standard Industrial Classification codes that describe the rna therapeutics industry, and their latest annual reports show $546.7 billion of combined revenue and a median operating margin of -320.5%. Investors should still evaluate its revenue model, industry-specific KPIs, valuation framework and the risks that can change the group's economics.
Industry Overview
RNA therapeutics companies develop drugs that use RNA interference, antisense and related technologies to silence or modulate genes. Delivery and durable effect are key, and several products treat rare and common diseases. The first numbers to compare across companies here are product sales and growth, clinical pipeline and readouts and dosing interval.
Key Industry Metrics
- Product sales and growth: Revenue from marketed RNA drugs and its growth. It shows launch traction and which indications are contributing.
- Clinical pipeline and readouts: Candidates in trials and results coming. Data in common diseases could widen markets beyond rare conditions.
- Dosing interval: Time between doses. Long intervals, such as months, improve convenience and adherence, setting these drugs apart.
- Cash runway: Months of spending covered by cash on hand. Developers without profits rely on this to continue programs.
- Partnership revenue: Upfront and milestone payments from larger drugmakers. It funds development and validates technology.
Primary Macro Drivers
- Clinical data in common diseases: Strong results in common diseases such as heart disease would widen the market beyond rare conditions, which raises expected sales and partnership interest.
- Delivery technology: Better delivery to the liver and other tissues widens what can be treated and lowers dose needed, which supports pipeline value.
- Payer coverage: Insurers decide whether and how to pay for these drugs, which sets patients treated and net price.
- Partnering: Large drugmakers pay upfront and milestone fees to share development, which adds cash and revenue and validates platforms.
Major Risks
- Trial failures: A failed late-stage study can remove expected sales and partner interest; watch trial readouts and expected timing.
- Competition: Several firms work on the same targets with different methods, so a rival's data can take share; watch competitor trial results.
- Pricing pressure: Payers may demand lower prices for high-cost chronic treatments, lowering net price; watch coverage decisions and contract terms.
- Safety: Safety findings such as liver effects can limit use or stop programs; watch regulator communications and safety updates.
Industry Characteristics
| Characteristic | Profile |
|---|---|
| Cyclicality | Defensive |
| Capital Intensity | Medium |
| Regulatory Intensity | High |
| Industry Maturity | Growth |
| Geographic Importance | U.S. / Global |
RNA Therapeutics Filers in the SEC Record
264 companies with annual reports in the dataset are classified by the SEC in the Standard Industrial Classification codes 2836, 2834. Their latest fiscal years end between 2022 and 2026, and together they reported $546.7 billion of revenue. Median revenue growth over the prior year was 11.6%. Median operating margin was -320.5% and median net margin -202.0%. Median total liabilities were 40% of total assets, and 57 of 264 reported a profit in their latest year.
| Company | Revenue | Growth | Operating margin | Net margin | Year |
|---|---|---|---|---|---|
| Johnson & Johnson | $94.2 billion | 6.0% | n/a | 28.5% | FY 2025 |
| Eli Lilly & Co | $65.2 billion | 44.7% | n/a | 31.7% | FY 2025 |
| Pfizer Inc | $62.6 billion | -1.6% | n/a | 12.4% | FY 2025 |
| Abbvie Inc. | $61.2 billion | 8.6% | 24.6% | 6.9% | FY 2025 |
| Bristol Myers Squibb Co | $48.2 billion | -0.2% | n/a | 14.6% | FY 2025 |
| Abbott Laboratories | $44.3 billion | 5.7% | 18.2% | 14.7% | FY 2025 |
| Amgen Inc | $36.8 billion | 10.0% | 24.7% | 21.0% | FY 2025 |
| Gilead Sciences, Inc. | $29.4 billion | 2.4% | 34.0% | 28.9% | FY 2025 |
The 8 largest of 264 by revenue. Source: each company's own annual report as filed with the SEC (XBRL data), figures in U.S. dollars. A company's SIC code reflects its main business as the SEC records it, so it can differ from how an index provider or analyst classifies the company, and a diversified group appears under only one code.
Where to Go Next
The RNA Therapeutics guide describes how the industry earns money, what to measure and what can go wrong. To see how it compares, read the neighbouring industries in the same sector, then apply the same checks to a specific company.
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Frequently Asked Questions
What are the main KPIs for the RNA Therapeutics industry?
Key performance indicators for the RNA Therapeutics industry include: Product sales and growth, Clinical pipeline and readouts, Dosing interval, Cash runway, Partnership revenue. Which matter most depends on the company's model, so compare them across several companies rather than relying on one.
How cyclical is the RNA Therapeutics industry?
The RNA Therapeutics industry is generally defensive, meaning demand tends to remain relatively stable regardless of the economic cycle. Companies in this space can provide portfolio stability during recessions, though growth may lag in strong expansions.
What are the biggest risks in the RNA Therapeutics industry?
The primary risks for RNA Therapeutics companies include: Trial failures, Competition, Pricing pressure, Safety. Investors should assess each company's exposure to these factors and its track record of navigating them.