Amicus Therapeutics Inc (FOLD) saw its loss widen to $54.99 million, or $0.39 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $43.69 million, or $0.35 a share. Revenues for the quarter were $4.17 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 81.41 percent.
Operating loss for the quarter was $52.02 million, compared with an operating loss of $43 million in the previous year period.
“During the first quarter we continued to advance the international commercial launch of our oral precision medicine Galafold for Fabry disease, as we brought Galafold to more Fabry patients in Germany and other European markets with both new ERT switch patients as well as a notable proportion of ERT-naïve patients,” stated John F. Crowley, chairman and chief executive officer of Amicus Therapeutics, Inc. “We are extremely pleased with the progress of our Galafold launch in terms of patient and physician adoption, as well as pricing and reimbursement. With launch now just initiating this month in the UK, Italy, France, and additional markets, we are confident in achieving our target of 300 patients on Galafold by the end of this year. In addition to the launch, we have also made significant progress on our other four key strategic priorities for 2017: 1) targeting a Japanese new drug application (J-NDA) submission for migalastat in the second quarter, 2) establishing definitive clinical proof of concept for our novel Pompe treatment paradigm ATB200/AT2221, 3) completing our Phase 3 clinical study in patients with epidermolysis bullosa, and 4) maintaining our financial strength. We are particuarly looking forward to sharing additional, important Pompe clinical data this quarter. We continue to believe that our Pompe program will be a crucial driver toward our vision of becoming one of the world’s leading global rare disease biotechnology companies.”
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