Amicus Therapeutics ( (FOLD) ) has released its Q3 earnings. Here is a breakdown of the information Amicus Therapeutics presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Amicus Therapeutics is a global biotechnology company focused on developing and commercializing novel medicines for rare diseases, with a strong commitment to patient care.
In the third quarter of 2024, Amicus Therapeutics reported significant revenue growth and improved profitability, driven by robust sales of its therapies Galafold and the newly launched Pombiliti + Opfolda. The company also announced a strategic settlement in its ongoing patent litigation.
Amicus reported a total revenue of $141.5 million for Q3 2024, marking a 37% increase year-over-year. Galafold sales rose by 20%, while Pombiliti + Opfolda saw a remarkable 33% growth from the previous quarter. The company also achieved a non-GAAP operating expense reduction and a non-GAAP net income of $30.8 million, indicating strong financial discipline and operational efficiency.
With an updated revenue growth guidance of 30%-32% for 2024, Amicus is poised to continue its trajectory of financial success. The company remains steadfast in its strategy to expand its market reach and develop treatments for Fabry and Pompe diseases, aiming for sustained shareholder value.
Looking ahead, Amicus Therapeutics plans to leverage its financial performance to support its mission of delivering innovative treatments for rare diseases, as it navigates the complexities of the biotechnology sector.
