FOLD - Amicus Therapeutics posts pandemic hit Q1 earnings miss

Amicus Therapeutics (FOLD) reported first-quarter results that missed Wall Street estimates, hurt by the uneven ordering patterns due to the disruptions caused by the COVID-19 pandemic.The company, however, said that it was confident of meeting its FY 2021 financial targets as it banks on a second half recovery from the pandemic.First-quarter revenue increased nearly 10% to $66.4M, but missed analysts' estimate by $5.35M. The topline growth during the quarter was driven by the performance of its Galafold product.Galafold momentum continues to track ahead of internal expectations and remains on track to achieve the full year revenue guidance of $300M to $315M, the company said.The company continues to expect the number of new patients starting on Galafold treatment in 2021 to be greater than in 2020.2021 Guidance: Double-digit revenue growth in 2021; Non-GAAP operating expense guidance for the full-year 2021 is $410M to $420M.Cash, cash equivalents, and marketable securities totaled $417.4M at March 31,

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Amicus Therapeutics posts pandemic hit Q1 earnings miss