Streetbeat News

Revenues

PHAR

Pharming Group has updated its FY23 guidance, expecting a 19% increase in revenue to approximately $245 million. RUCONEST revenues are projected to grow by 10%, and Joenja revenues are anticipated to be around $18 million. The company's cash and cash equivalents, along with restricted cash and marketable securities, are expected to total $215 million by the end of 2023. CEO Sijmen de Vries highlighted the successful launch of Joenja for APDS in the U.S. and plans for regulatory approvals and commercialization in additional markets, as well as the development of leniolisib for other primary immunodeficiencies.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:51 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines as the market anticipates the decision on the U.S.'s first spot BTC ETF. Bloomberg's Eric Balchunas expects approvals for ETF applicants who met the SEC's requirements. The crypto market cap fell by 4.80%, while U.S. stock futures were mixed. Congressional leaders reached a deal to avoid a government shutdown. Analysts predict a bull cycle for Bitcoin if the ETF is approved, with significant liquidity inflows and potential for a 10x price increase.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 3:19 am

CSTL

Castle Biosciences, Inc. (NASDAQ:CSTL) announced preliminary Q4 and FY23 results, expecting to surpass $210M in total revenue, a 53% growth over 2022. The company delivered 70,429 total test reports in 2023, a 59% increase from the previous year. Year-end cash, equivalents, and marketable securities are projected to be around $243M. Notable increases in test reports were seen in DecisionDx-SCC (91%), TissueCypher (234%), and IDgenetix (172%), while DecisionDx-UM saw a slight decrease (6%). The financials are unaudited and subject to adjustment.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:20 am

ALNY

Alnylam Pharmaceuticals reported preliminary global net product revenues of $1.241 billion for the full year 2023, a 39% annual growth, for its products ONPATTRO, AMVUTTRA, GIVLAARI, and OXLUMO. As of December 31, 2023, the company had approximately $2.4 billion in cash, cash equivalents, and marketable securities.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:14 am

ALNY

Alnylam Pharmaceuticals, Inc. reported preliminary Q4 and FY23 global net product revenues, showing significant growth. Q4 revenues for ONPATTRO and AMVUTTRA were approximately $79M and $175M, respectively, while GIVLAARI and OXLUMO revenues were about $59M and $33M, respectively. Full year revenues for these products totaled $1,241M, a 39% increase from the previous year. Over 4,060 patients were on ONPATTRO or AMVUTTRA, and over 1,080 patients were on GIVLAARI or OXLUMO by year-end. Alnylam also reported a strong balance sheet with $2.4B in cash and investments. The company will discuss these results at the J.P. Morgan Healthcare Conference.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:13 am

AMC

AMC Theatres Distribution and AMC Entertainment (NYSE:AMC) announced that Taylor Swift's 'The Eras Tour' concert film has become the highest grossing theatrical release in history among concert and documentary films, with global earnings surpassing $261.6 million. The film's success was bolstered by a strong opening week in China, where it earned $8.7 million, and it has now outperformed the previous record-holder, 'Michael Jackson's This Is It', which made $261.2 million globally in 2009.

Portfolio Pulse from Charles Gross

January 08, 2024 | 12:15 am

FOLD

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.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 10:39 pm

EXEL

Exelixis announced preliminary FY23 financial results, projecting revenues of $1.83B, slightly below the $1.84B estimate. The company also provided FY24 revenue guidance of $1.825B-$1.925B, which is below the $2.06B estimate. Key priorities for 2024 include label expansions for CABOMETYX, advancing zanzalintinib, XB002, and XL309, and moving three preclinical programs into clinical development. Exelixis plans a corporate restructuring to focus on R&D and has announced an additional $450 million share repurchase following a $550 million repurchase in 2023.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 10:29 pm

OMIC

Singular Genomics Systems, Inc. (NASDAQ:OMIC) reported preliminary unaudited Q4 2023 revenue of approximately $1M, a 31% increase from $765K in Q4 2022. The company shipped eight G4 instruments in Q4 2023 and launched two new consumable kits. Full financial results are expected in March 2024.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 10:26 pm

EXAS

Exact Sciences Corp. (EXAS) reported preliminary Q4 2023 revenue of $645.5M-$647.5M, surpassing estimates of $631.52M. Full-year 2023 revenue is expected to be $2.4985B-$2.5005B, exceeding the $2.48B estimate. For FY24, revenue is projected to match estimates at $2.83B. The company also announced the submission of the next-generation Cologuard to the FDA and a CFO succession plan, with Jeff Elliott stepping down and a search for a new CFO underway.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 10:22 pm