Amicus Therapeutics Q2 2022 Earnings Report

Amicus Therapeutics reported strong operational growth driven by continued global uptake of Galafold and patient demand.

Key Takeaways

Amicus Therapeutics announced financial results for the quarter ended June 30, 2022. The company is pleased by the continued global uptake of Galafold and continued patient demand, which is driving strong operational growth in-line with 2022 guidance. They are focused on gaining regulatory approvals of AT-GAA for people living with Pompe disease around the world and poised for the anticipated successful launch of AT-GAA.

Galafold revenue reflects 11% sales growth with operational growth of 18%, partly offset by currency headwinds of 7%.

The company is on-track to deliver full-year double-digit revenue growth of 15-20% at constant exchange rates.

The company is advancing U.S. and EU regulatory reviews and launch preparations for AT-GAA in Pompe Disease.

3 Newly Issued U.S. Composition of Matter Patents for Galafold Add to Growing U.S. Patent Portfolio

Total Revenue

$80.7M

Previous year: $77.4M

+4.3%

EPS

-$0.21

Previous year: -$0.19

+10.5%

Gross Profit

$72.5M

Previous year: $69M

+5.1%

Cash and Equivalents

$236M

Previous year: $177M

+33.5%

Free Cash Flow

-$16.2M

Previous year: -$36.3M

-55.3%

Total Assets

$801M

Previous year: $787M

+1.7%