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Amicus Therapeutics Announces Full-Year 2024 Financial Results and Corporate Updates
FOLDAmicus Therapeutics(FOLD) Newsfilter·2025-02-19 12:00

Core Insights - Amicus Therapeutics reported total revenue of 528.3millionfortheyear2024,markinga33528.3 million for the year 2024, marking a 33% increase year-over-year [1][4][3] - The company projects revenue growth for 2025 to be between 17% and 24% at constant exchange rates (CER) [1][4][7] - Amicus anticipates achieving positive GAAP net income during the second half of 2025 [1][7][12] Financial Performance - Total revenues for 2024 were 528.3 million, with a fourth-quarter revenue of 149.7million,reflectinga30149.7 million, reflecting a 30% increase year-over-year [4][5] - Galafold® net product sales for 2024 were 458.1 million, an 18% increase year-over-year, while Pombiliti® + Opfolda® sales reached 70.2million,asignificantincreaseof50770.2 million, a significant increase of 507% [5][6][12] - The company reported a GAAP net loss of 56.1 million for 2024, an improvement from a loss of 151.6millionin2023[12][24]ProductInsights−GalafoldisindicatedfortreatingFabrydiseaseandisapprovedinover40countries,withapproximately2,730patientsusingthedrugbytheendof2024[12][13]−Pombiliti+Opfoldareceivedregulatoryapprovalinmultiplecountries,includingAustralia,andisexpectedtoseefirstcommercialpatientstreatedinearly2025[5][12][16]FutureGuidance−For2025,AmicusexpectsGalafoldrevenuegrowthof10151.6 million in 2023 [12][24] Product Insights - Galafold is indicated for treating Fabry disease and is approved in over 40 countries, with approximately 2,730 patients using the drug by the end of 2024 [12][13] - Pombiliti + Opfolda received regulatory approval in multiple countries, including Australia, and is expected to see first commercial patients treated in early 2025 [5][12][16] Future Guidance - For 2025, Amicus expects Galafold revenue growth of 10% to 15% and Pombiliti + Opfolda growth of 65% to 85% at CER [7][12] - The company aims to surpass 1 billion in total sales by 2028, driven by its current product portfolio [6][12] Operational Highlights - Total GAAP operating expenses for 2024 were 450.5million,aslightincreasefrom450.5 million, a slight increase from 439.2 million in 2023 [12][24] - Cash, cash equivalents, and marketable securities totaled $249.9 million at the end of 2024, showing stability compared to previous quarters [12][24]