On Thursday, Shares of Amicus Therapeutics (NASDAQ: FOLD) rose 0.53% to $13.22. The stock traded total volume of 397,844 shares lower than the average volume of 3.19M shares.
Amicus Therapeutics (FOLD), a global biotechnology company focused on discovering, developing and delivering novel medicines for rare metabolic diseases, recently declared financial results for the full year ended December 31, 2018.
Full-Year 2018 Financial Results
- Total revenue in the full-year 2018 was $91.20M, a boost from total revenue of $36.90M in the full-year 2017.
- Cash, cash equivalents, and marketable securities totaled $504.20M at December 31, 2018 contrast to $358.60M at December 31, 2017.
- Total operating expenses reduced to $405.60M for the full-year 2018 contrast to $472.70M in the full-year 2017. Operating expenses reflecting increased investments in the Galafold launch, Pompe program, and gene therapy pipeline.
- Net cash spend was $189.30M for the full-year 2018, which was below full-year 2018 net cash spend guidance of $200.0M to $225.0M and reflects careful expense management.
- Net loss was $349.00M, or $1.88 per share, contrast to a net loss of $284.00M, or $1.85 per share, for the full-year 2017.
2019 Financial Guidance
Amicus recorded $91.20M in full-year 2018 revenue from commercial sales and reimbursed expanded access programs for Galafold. For the full-year 2019 the Company anticipates total Galafold revenue of $160.0M to $180.0M. Growth in 2018 was mostly driven by EU and other countries outside the U.S. and Japan. Growth in 2019 is expected to be driven by continued growth in EU markets, further geographic expansion, and further success from the first full year of launch in the U.S. and Japan.
Cash, cash equivalents, and marketable securities totaled $504.20M at December 31, 2018. The Company anticipates ending 2019 with about $300.0M in cash on hand. The current cash position is anticipated to fund ongoing operations into at least mid- 2021.
FOLD has the market capitalization of $2.99B and its EPS growth ratio for the past five years was -10.10%. The return on assets ratio of the Company was -42.00% while its return on investment ratio stands at -49.50%. Price to sales ratio was 32.76.