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Sep 30, 2021
BioMarin Q3 2021 Earnings Report
Announced third quarter 2021 financial results and corporate updates.
Key Takeaways
BioMarin's Q3 2021 total revenues decreased to $408.7 million compared to $476.8 million for the same period in 2020. GAAP net loss increased to $36.5 million, while non-GAAP net income decreased to $33.5 million.
VOXZOGO™ commercial launch underway across Europe.
European opinion on Valoctocogene Roxaparvovec MAA expected first half 2022; U.S. resubmission on track for second quarter 2022.
Improved full-year 2021 total revenue and bottom-line financial guidance.
Multiple early-stage programs to be shared at upcoming BioMarin R&D Day on November 30, 2021.
BioMarin
BioMarin
BioMarin Revenue by Segment
Revenue by Segment
VOXZOGO Revenue
CapyFin.comVIMIZIM Revenue
CapyFin.comNAGLAZYME Revenue
CapyFin.comPALYNZIQ Revenue
CapyFin.comBRINEURA Revenue
CapyFin.com Forward Guidance
BioMarin is improving both top and bottom-line financial guidance for the full-year.
Positive Outlook
- Total Revenues $1,820 to $1,880 million
- Vimizim Net Product Revenues $595 to $620 million
- Palynziq Net Product Revenues $230 to $260 million
- Kuvan Net Product Revenues $265 to $290 million
- Non-GAAP Income $215 to $255 million
Challenges Ahead
- GAAP Net Loss ($85) to ($45) million
- Cost of Sales (% of Total Revenues) 23% to 25%
- Research and Development Expense $635 to $675 million
- Selling, General and Administrative Expense $735 to $775 million
- Naglazyme Net Product Revenues $375 to $405 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income