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Investing.com -- Amicus Therapeutics (NASDAQ:FOLD) reported first-quarter 2025 earnings that beat analyst expectations, but revenue fell short, sending shares plummeting 11.3% in early trading.
The rare disease-focused biotech company posted adjusted earnings per share of $0.03, surpassing the analyst consensus estimate of -$0.02. However, revenue of $125.25 million missed Wall Street’s forecast of $136.65 million.
Total (EPA:TTEF) revenue grew 15% year-over-year at constant exchange rates to $125.2 million, driven by a 6% increase in Galafold sales to $104.2 million and a 92% jump in Pombiliti + Opfolda sales to $21.0 million.
"Amicus delivered another consecutive quarter of significant double-digit revenue growth," said Bradley Campbell, President and CEO. "While some unexpected factors impacted revenue in the quarter, the key performance indicators for both products are very strong."
The company adjusted its 2025 total revenue growth guidance to 15-22% at constant exchange rates, down from its previous outlook of 17-24%. It maintained Galafold revenue growth guidance of 10-15% but lowered Pombiliti + Opfolda growth expectations to 50-65% from 65-85% previously.
Amicus reiterated its goal of achieving GAAP profitability in the second half of 2025. The company ended the quarter with $250.6 million in cash and marketable securities.
In a separate announcement, Amicus said it licensed U.S. commercial rights to Dimerix’s DMX-200, a Phase 3 treatment for a rare kidney disease.
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