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): February 15, 2006

                          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

|_|  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 February 15, 2006, Alnylam Pharmaceuticals, Inc. announced its financial
results for the quarter and year ended December 31, 2005. 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

(d)  Exhibits

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

     99.1 Press Release dated February 15, 2006.


     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: February 15, 2006                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 February 15, 2006