Amicus Therapeutics (FOLD) Misses Q2 EPS by 3c

Amicus Therapeutics (NASDAQ: FOLD) reported Q2 EPS of ($0.27), $0.03 worse than the analyst estimate of ($0.24).

The Company also provided program updates and reiterated full-year 2015 net cash spend guidance of $100 million to $110 million.

Cash, cash equivalents, and marketable securities totaled $361.4 million at June 30, 2015, compared to $169.1 million at December 31, 2014.

John F. Crowley, Chairman and Chief Executive Officer of Amicus Therapeutics, Inc., stated, "During the second quarter we made great progress towards our vision of building one of the world's leading biotechnology companies focused on rare and orphan diseases. As part of fulfilling that vision and mission, we now have in place a world class international business and commercial leadership team. Our first marketing application for Galafold for Fabry disease is now under review in Europe, and we plan to submit our U.S. marketing application in the second half of this year. We have also made significant progress toward clinical studies with our next-generation Pompe enzyme replacement therapy. I am proud to report that this next-generation biologic has now completed the first GMP production run and has maintained its exceptionally high levels of mannose-6 phosphate and proper glycosylation. The Pompe program remains on track with all IND-enabling toxicology studies also nearly complete as we advance towards initiation of clinical studies in patients by the end of 2015."

For earnings history and earnings-related data on Amicus Therapeutics (FOLD) click here.

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