Amicus Therapeutics (FOLD) saw its loss widen to $200.04 million, or $1.49 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $132.12 million, or $1.20 a share.
Revenues for the year were $4.96 million. The company has not recorded any revenues for the previous year. Gross margin for the year was at 83.20 percent.
Operating loss for the year was $181.89 million, compared with an operating loss of $130.44 million in the previous year.
"Throughout 2016 we made significant progress with the international launch of our first commercial product Galafold and continued to advance and expand our robust pipeline of first- and/or best-in-class medicines for people living with devastating rare diseases," stated John F. Crowley, chairman and chief executive officer of Amicus Therapeutics, Inc.
Working capital increases sharply
Amicus Therapeutics has recorded an increase in the working capital over the last year. It stood at $229.11 million as at Dec. 31, 2016, up 60.23 percent or $86.12 million from $142.98 million on Dec. 31, 2015. Current ratio was at 3.06 as on Dec. 31, 2016, up from 2.94 on Dec. 31, 2015.
Debt increases substantially
Amicus Therapeutics has witnessed an increase in total debt over the last one year. It stood at $154.46 million as on Dec. 31, 2016, up 271.30 percent or $112.86 million from $41.60 million on Dec. 31, 2015. Long-term debt stood at $154.46 million as on Dec. 31, 2016. Total debt was 14.90 percent of total assets as on Dec. 31, 2016, compared with 4.58 percent on Dec. 31, 2015. Debt to equity ratio was at 0.43 as on Dec. 31, 2016, up from 0.12 as on Dec. 31, 2015.
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