Live In Play

Live In Play®

Updated: 04-Aug-22 07:32 ET

FOLD: Amicus Therapeutics beats by $0.01; misses on revs (10.37)

Reports Q2 EPS of ($0.21) vs ($0.22) Capital IQ consensus; revs of $80.7 mln vs $85.9 mln consensus
Outlook
- For the full-year 2022, the Company anticipates total Galafold revenue of $350 million to $365 million at constant exchange rates1. Double-digit revenue growth between 15 and 20% at CER1 in 2022 is expected to be driven by continued underlying demand from both switch and treatment-naïve patients, geographic expansion, the continued diagnosis of new Fabry patients and commercial execution across all major markets, including the U.S., EU, U.K., and Japan. Applying average July 2022 exchange rates, the negative currency impact on full-year 2022 Galafold reported sales would be approximately 9%.
- Non-GAAP operating expense guidance for the full-year 2022 is $470 million to $485 million, driven by continued investment in the global Galafold launch, AT-GAA clinical studies and pre-launch activities, in addition to certain non-recurring costs for manufacturing to support the global launch of AT-GAA and committed obligations for the gene therapy portfolio.
- In 2023, Amicus expects non-GAAP operating expense at a level below 2021.