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SAN RAFAEL, Calif. - BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), an $11.2 billion market cap pharmaceutical company with a "GREAT" financial health rating according to InvestingPro, has agreed to purchase Inozyme Pharma Inc. (NASDAQ: INZY) in an all-cash transaction valued at approximately $270 million, or $4.00 per share. The acquisition, expected to close in the third quarter of 2025, awaits regulatory approval and the successful completion of a tender offer among other customary conditions.
The deal will bolster BioMarin’s portfolio with INZ-701, a late-stage enzyme replacement therapy currently under evaluation for ENPP1 Deficiency, a rare genetic condition linked to increased cardiovascular mortality, particularly in infants. Early 2026 is set for the initial Phase 3 study data in children, with a potential market launch in 2027.
BioMarin CEO Alexander Hardy emphasized the strategic alignment, noting the potential of INZ-701 to be the inaugural treatment for ENPP1 Deficiency across all age groups. Inozyme CEO Douglas A. Treco highlighted the therapy’s potential impact, crediting his team’s dedication.
INZ-701 has shown promise in early studies, demonstrating safety and potential benefits in bone mineralization and quality of life. Currently, no approved treatments exist for ENPP1 Deficiency, which necessitates lifelong multidisciplinary care.
The acquisition terms stipulate that BioMarin will begin a tender offer to purchase all outstanding Inozyme shares. With a strong current ratio of 5.52x and robust cash flows, BioMarin appears well-positioned to execute this transaction. Inozyme’s Board of Directors has unanimously recommended that stockholders accept the offer.
BioMarin reaffirmed its financial outlook for 2025 and targets a 40% Non-GAAP Operating Margin for 2026, excluding the accounting impacts of the acquisition. The company has demonstrated strong momentum with 19.4% revenue growth over the last twelve months and maintains a perfect Piotroski Score of 9, indicating excellent financial strength. According to InvestingPro analysis, BioMarin appears undervalued at current levels, with 8 additional exclusive ProTips available for subscribers. Get access to the comprehensive Pro Research Report covering what really matters about BioMarin and 1,400+ other top stocks through InvestingPro.
The transaction is backed by Goldman Sachs & Co. LLC as BioMarin’s financial advisor and Cooley LLP as legal counsel, while Centerview Partners LLC and Goodwin Procter LLP are advising Inozyme.
A conference call and webcast were scheduled for today to discuss the acquisition details. This announcement is based on a press release statement.
In other recent news, BioMarin Pharmaceutical Inc. reported strong financial results for the first quarter of 2025, with earnings per share (EPS) of $1.13, significantly surpassing the forecasted $0.70. The company’s revenue for the quarter reached $745 million, exceeding expectations and marking a 15% year-over-year growth. BioMarin continues to project full-year EPS guidance between $4.20 and $4.40, indicating a 19-25% growth compared to the previous year. Cantor Fitzgerald has maintained an Overweight rating on BioMarin, with a price target of $90, reflecting confidence in the company’s consistent performance and future growth prospects. The company also highlighted promising developments with its VOXZOGO treatment, which showed a significant impact on tibial bowing in children with achondroplasia, and is being evaluated for other skeletal conditions. BioMarin remains focused on expanding its operating margins, projecting them to exceed 40% in the coming years. Additionally, BioMarin is advancing its clinical programs, with a pivotal Phase 3 study for hypochondroplasia completed and topline data expected in 2026.
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