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): November 2, 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 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 November 2, 2006, Alnylam Pharmaceuticals, Inc. announced its
financial results for the quarter and nine month period ended September 30,
2006. 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 November 2, 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:  November 2, 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 November 2, 2006