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Mar 31, 2021
BioMarin Q1 2021 Earnings Report
BioMarin's financial performance decreased slightly due to lower Kuvan sales, but was offset by increased Vimizim and Palynziq revenues.
Key Takeaways
BioMarin announced its Q1 2021 financial results, with total revenues decreasing by 3% compared to Q1 2020, primarily due to lower Kuvan sales. However, Vimizim and Palynziq revenues increased. The company reaffirmed its full-year 2021 financial guidance and anticipates regulatory decisions for vosoritide and valoctocogene roxaparvovec in Europe.
Total revenues decreased by 3% in Q1 2021 compared to Q1 2020, excluding Kuvan revenues grew by 9%.
GAAP Net Income decreased to $17.4 million for Q1 2021, compared to $81.4 million for the same period in 2020.
The company reaffirms its plan to submit the Marketing Authorization Application with one-year results from the Phase 3 GENEr8-1 study to the European Medicines Agency (EMA) in June 2021.
FDA Review of Vosoritide Proceeding; PDUFA Target Action Date Extended to November 20, 2021 to Provide Time for Review of Recently Submitted 2-year Phase 3 Results
Revenue by Segment
Forward Guidance
BioMarin reaffirmed its full-year 2021 financial guidance, taking into consideration the ongoing impact from the COVID-19 pandemic and the essential nature of its products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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