Amicus Therapeutics Reports Preliminary 2023 Revenue And Provides 2024 Strategic Outlook; Q4 Revenue ~$115.1M Vs $112.25M Est.; Sees FY23 Revenue Of ~$399.4M Vs $396.45M Est.; Co Sees FY24 As First Full Year Of Achieving Non-GAAP Profitability
Portfolio Pulse from Benzinga Newsdesk
Amicus Therapeutics reported preliminary 2023 revenue that slightly exceeded estimates and provided a strategic outlook for 2024, expecting it to be the first full year of non-GAAP profitability. Q4 revenue was approximately $115.1M against an estimate of $112.25M, and FY23 revenue is expected to be around $399.4M versus an estimate of $396.45M. The company anticipates significant revenue growth in 2024, driven by the treatment of more Fabry patients and the global launches of Pombiliti and Opfolda. Amicus is focusing on four key strategic priorities for 2024, including double-digit Galafold revenue growth, successful launches of Pombiliti and Opfolda, advancing studies in Fabry and Pompe diseases, and achieving full-year non-GAAP profitability.
January 07, 2024 | 10:39 pm
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Amicus Therapeutics exceeded revenue estimates for Q4 2023 and FY23, and is projecting significant growth and non-GAAP profitability in 2024, driven by its treatments for rare diseases and new product launches.
The positive preliminary revenue report for 2023 and the optimistic outlook for 2024, including the expected first full year of non-GAAP profitability, are likely to be viewed favorably by investors. The focus on key strategic priorities and the potential for new product launches to capture a significant market share could drive short-term positive sentiment in Amicus Therapeutics' stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100