Amicus' Q4 Earnings Miss, Higher Product Sales Drive Y/Y Revenues

Core Insights - Amicus Therapeutics reported adjusted earnings of 10 cents per share for Q4 2025, missing the Zacks Consensus Estimate of 13 cents, but showing an increase from 9 cents per share in the same quarter last year [1][6] Financial Performance - Revenues for Q4 totaled $185.2 million, reflecting a 24% year-over-year increase on a reported basis and a 20% increase at constant exchange rates, surpassing the Zacks Consensus Estimate of $180 million [2][6] - Galafold sales reached $150.2 million, up 14% year over year at constant exchange rates, although it fell short of the Zacks Consensus Estimate of $157 million [4] - Sales of the newly approved combo drug Pombiliti + Opfolda amounted to $35 million, marking a 51% year-over-year increase at constant exchange rates, slightly exceeding the Zacks Consensus Estimate of $34.8 million [4][6] Yearly Overview - For the full year 2025, Amicus generated revenues of $634.2 million, a 17% increase year over year at constant exchange rates, with adjusted earnings of 31 cents per share compared to 24 cents per share in the previous year [8] Acquisition Details - BioMarin Pharmaceutical announced a definitive agreement to acquire Amicus for $14.50 per share in a cash deal totaling $4.8 billion, expected to close in Q2 2026 [9] - Post-acquisition, BioMarin will integrate Galafold and Pombiliti into its commercial portfolio and acquire exclusive U.S. rights to the late-stage pipeline drug DMX-200 [10] Market Performance - Over the past six months, Amicus shares have increased by 91.7%, significantly outperforming the industry average rise of 22.8% [3] - Adjusted operating expenses rose by 17% to $114.2 million in Q4 2025, while cash, cash equivalents, and marketable securities totaled $293.5 million as of December 31, 2025, up from $263.8 million as of September 30, 2025 [7]