Amicus Therapeutics (FOLD) Misses Q3 EPS by 56c, Revenues Miss; Offers FY18 Revenue Outlook Below Consensus

Amicus Therapeutics (NASDAQ: FOLD) reported Q3 EPS of ($0.84), $0.56 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $20.6 million versus the consensus estimate of $23.57 million.

John F. Crowley, Chairman and Chief Executive Officer of Amicus Therapeutics, Inc. stated, “The third quarter marked a major transformation for Amicus that brings us several steps closer toward our 2023 vision to treat at least 5,000 patients and to achieve $1 billion in annual global revenue. In the last three months, we received our first U.S. drug approval for Galafold, expanded our pipeline to include 14 new gene therapy programs for rare metabolic diseases, and presented positive 18-month data for our differentiated Pompe treatment paradigm. With a strong revenue base and $500M+ peak sales opportunity for Galafold, as well as $564 million in cash, we have never been in a stronger position to advance our robust portfolio to drive significant value for shareholders and the patient communities that we serve.”

GUIDANCE:

Amicus Therapeutics sees FY2018 revenue of $80-88 million, versus the consensus of $89.85 million.

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

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