BioMarin Q4 2020 Earnings Report
Key Takeaways
BioMarin announced its Q4 2020 financial results, with total revenues of $452.1 million. The company's full-year revenues reached $1.86 billion, a 9% increase year-over-year. Key pipeline updates included positive Phase 3 results for valoctocogene roxaparvovec in severe hemophilia A and sustained growth effects for vosoritide in children with achondroplasia.
Total revenues for full-year 2020 increased by 9% to $1.86 billion.
BioMarin announced positive Phase 3 results with Valoctocogene Roxaparvovec in adults with severe hemophilia A.
Vosoritide demonstrated sustained growth effects for over two years in children with achondroplasia.
Company dose-escalates in PHEarless, a Phase 1/2 Study with BMN 307 Gene Therapy for the Treatment of Phenylketonuria (PKU).
BioMarin
BioMarin
BioMarin Revenue by Segment
Forward Guidance
BioMarin provided full-year 2021 financial guidance, including total revenues between $1.75 billion and $1.85 billion and GAAP net loss between $130 million and $80 million.
Positive Outlook
- Total Revenues: $1,750 to $1,850 million
- Vimizim Net Product Revenues: $570 to $610 million
- Naglazyme Net Product Revenues: $365 to $395 million
- Palynziq Net Product Revenues: $210 to $250 million
- Brineura Net Product Revenues: $120 to $140 million
Challenges Ahead
- Total Revenues takes into consideration ongoing expected impact from the COVID-19 pandemic in 2021 assuming consistent trends experienced during 2020.
- GAAP Net Loss: ($130) to ($80) million
- Kuvan Net Product Revenues: $250 to $290 million
- Cost of Sales (% of Total Revenues): 23% to 25%
- Research and Development Expense: $645 to $695 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income