Categories Earnings, Health Care

Amicus Therapeutics (FOLD): FY 2019 Earnings Snapshot

— Biotechnology company Amicus Therapeutics (NASDAQ: FOLD) reported a net loss of $356.4 million or $1.48 per share for fiscal 2019, compared to a loss of $349 million or $1.88 per share in the preceding year.

— Total revenues nearly doubled to $182.2 billion in 2019 from $91.25 million in 2018

— Adjusted operating expenses were $464.3 million in 2019, up 14% compared to fiscal 2018

— Expects revenues of Galafold, a therapy for Fabry disease in adults, to be in the range of $250 million to $260 million in fiscal 2020

— Estimates full-year operating expense to be in the range of $410 million to $420 million, which represents an increase from last year

— On track to continue ongoing operations well into 2022, making use of the current cash position

— Looks to complete Pompe Phase-3 PROPEL study, enroll pediatric studies and advance manufacturing to support 2021 BLA and MAA

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