When Amicus Therapeutics Inc. (FOLD) company posted a net loss of $1.49 per share on $5.0 million in revenue. This fell short consensus estimates from Thomson Reuters that called for a net loss of $1.40 per share and $5.86 million in revenue. However, there were more redeeming factors in the report.
John F. Crowley, board chair and chief executive of Amicus, commented:
Throughout 2016 we made significant progress with the international launch of our first commercial product Galafold and continued to advance and expand our robust pipeline of first- and/or best-in-class medicines for people living with devastating rare diseases. During 2017 we are laser focused on five key strategic priorities to advance our vision to develop and deliver great medicines for patients and to create significant shareholder value: 1) advancing the international launch of Galafold for Fabry disease, 2) completing our regulatory submission for migalastat in Japan (J-NDA), 3) establishing our novel Pompe treatment paradigm ATB200/AT2221 as a highly differentiated therapy, 4) successfully completing our Phase 3 clinical study in patients with epidermolysis bullosa, and 5) maintaining our financial strength. With one commercial-stage medicine and two medicines in clinical development, as well as a biologics platform for future growth, we are building a leading global biotechnology company focused on delivering meaningful benefits for patients living with devastating rare diseases.
Cash, cash equivalents and marketable securities totaled $330.4 million at the end of the quarter, compared to $214.0 million last year.
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