FOLD - Amicus Therapeutics reports mixed Q4 earnings; initiates FY23 outlook
- Amicus Therapeutics press release ( NASDAQ: FOLD ): FY GAAP EPS of -$0.82 misses by $0.05 .
- Revenue of $329.23M (+7.8% Y/Y) beats by $0.33M .
- Cash, cash equivalents, and marketable securities totaled $293.6 million at December 31, 2022, compared to $482.5 million at December 31, 2021.
- For the full-year 2023 , the Company anticipates total Galafold revenue growth between 12 and 17% at CER 1 driven by continued underlying demand from both switch and treatment-naïve patients, geographic expansion, label extensions, the continued diagnosis of new Fabry patients, and commercial execution across all major markets, including the U.S., EU, U.K., and Japan.
- Non-GAAP operating expense guidance for the full-year 2023 is $340 million to $360 million, driven by prudent expense management offset 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 4 .
- The Company is on-track to achieve non-GAAP profitability in the second half of 2023.
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Amicus Therapeutics reports mixed Q4 earnings; initiates FY23 outlook