Alnylam Pharmaceuticals (ALNY) 10-Q 2011 Q2 Quarterly report

Exhibit 12

STATEMENT REGARDING COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS/DEFICIENCIES TO FIXED CHARGES
(dollars in thousands)

	Six Months Ended			Three Months Ended			Fiscal Year Ended December 31,
	June 30,			June 30,
	2011			2011			2010			2009			2008			2007			2006
Earnings (loss):
Pre-tax loss from continuing operations before adjustment for loss from equity investee	$	(28,025	)	$	(12,812	)	$	(35,362	)	$	(42,098	)	$	(16,240	)	$	(79,146	)	$	(34,608	)
add: Fixed charges (see below)		603			302			1,207			712			1,115			1,553			1,532
Pre-tax income (loss) from continuing operations before adjustment for income/loss from equity investees plus fixed charges	$	(27,422	)	$	(12,510	)	$	(34,155	)	$	(41,386	)	$	(15,125	)	$	(77,593	)	$	(33,076	)
Fixed charges:
Interest expense on indebtedness	$	—		$	—		$	—		$	—		$	872		$	1,083		$	1,029
Interest expense on portion of rent expense representative of interest		603			302			1,207			712			243			470			503
Total fixed charges	$	603		$	302		$	1,207		$	712		$	1,115		$	1,553		$	1,532
Ratio of earnings to fixed charges		—			—			—			—			—			—			—
Deficiency of earnings available to cover fixed charges	$	(28,025	)	$	(12,812	)	$	(35,362	)	$	(42,098	)	$	(16,240	)	$	(79,146	)	$	(34,608	)