leadf
logo-loader
viewAmryt Pharma PLC

Amryt Pharma ups revenue estimate as sales momentum builds

Amryt added it expects to release top-line data from the EASE (EB) Phase 3 global clinical trial in late third /early fourth quarter

Amryt Pharma PLC -

Amryt Pharma PLC ( LON:AMYT NASDAQ:AMYT) has increased its forecast for revenues this financial year by 13% to between US$170-175mln after good demand for key drugs metreleptin and lomitapid.

Joe Wiley, chief executive, said: "The very positive momentum we experienced during 2019 and Q1 this year has been maintained through Q2.

“Our two commercial products, metreleptin [cholesterol] and lomitapide [leptin deficiency] continue to deliver growth across a host of metrics including revenue and EBITDA growth, cash generation and market expansion. 

Amryt added it expects to release top-line data from the EASE (EB) Phase 3 global clinical trial in late third /early fourth quarter

“Despite the uncertainties brought about by COVID-19, we believe we have good visibility on our commercial business in the second half of the year,” Wiley added.

For the quarter to June, Amryt said revenues rose by 22% year-on-year to US$46.2mln and by 26% to US$90.8mln for the half-year.

Losses for the second quarter were US$21mln and for the half-year US$52mln, though Amryt said it generated US$9.7mln of cash and ended the half with US$67mln of unrestricted cash.

Quick facts: Amryt Pharma PLC

Price: 195 GBX

AIM:AMYT
Market: AIM
Market Cap: £317.32 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Amryt Pharma PLC named herein, including the promotion by the Company of Amryt Pharma PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Market report: FTSE gains despite uncertain UK labour market outlook

The FTSE is in positive territory despite UK unemployment rising to its highest level for two years - up to 4.1% with young people from age 16 to 24 particularly impacted. Online grocer Ocado (LON:OCDO) says its switch to delivering Marks & Spencer food has been successful, after...

1 week, 6 days ago

2 min read