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Dec 31, 2020
BioMarin Q4 2020 Earnings Report
BioMarin's financial performance remained steady, despite challenges from the COVID-19 pandemic and a delay in valoctocogene roxaparvovec approval.
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
Revenue by Segment
VIMIZIM Revenue
CapyFin.comNAGLAZYME Revenue
CapyFin.comPALYNZIQ Revenue
CapyFin.comALDURAZYME Revenue
CapyFin.comBRINEURA Revenue
CapyFin.comKUVAN Revenue
CapyFin.com 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