Amicus Therapeutics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 10, 2023 at 07:02 am EDT
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Amicus Therapeutics, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported net loss was USD 52.93 million compared to USD 85.26 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.3 a year ago.
Amicus Therapeutics, Inc. is a biotechnology company, which is focused on discovering, developing, and delivering novel medicines for rare diseases. Its two marketed therapies are Galafold, the first oral monotherapy for people living with Fabry disease who have amenable genetic variants, and Pombiliti + Opfolda, a novel treatment designed to improve uptake of active enzyme into key disease relevant tissues for adults living with late-onset Pompe disease. As an orally administered monotherapy, Galafold is designed to bind to and stabilize an endogenous alpha-galactosidase A (alpha-Gal A) enzyme in those patients with genetic variants identified as amenable in a Good Laboratory Practice (GLP) cell-based amenability assay. Pombiliti + Opfolda consists of a uniquely engineered rhGAA enzyme, cipaglucosidase alfa-atga, with an optimized carbohydrate structure to enhance lysosomal uptake, administered in combination with miglustat that functions as an enzyme stabilizer.