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Amryt Pharma revenues rise in first half following jump in Lojuxta sales

The pharmaceutical firm reported a narrowed loss before tax of €11.3mln for the period, less than a €13.8mln loss a year ago, while revenues grew to €7mln from €6.1mln previously
Smiling face in pills
Revenues were boosted by a 14.6% increase in sales of Amryt's Lojuxta drug to €6.6mln

Amryt Pharma PLC (LON:AMYT) has reported increased revenues in the first half of the year following a jump in sales for its Lojuxta cholesterol drug.

The pharmaceutical firm reported a narrowed loss before tax of €11.3mln for the period, less than a €13.8mln loss a year ago, while revenues grew to €7mln from €6.1mln previously.

WATCH: Amryt Pharma looking to replicate success of Lojuxta drug

Revenues were boosted by a 14.6% increase in sales of the Lojuxta drug to €6.6mln, while the firm ended the period with a cash balance of €12.2mln and a €10mln undrawn balance on the European Investment Bank facility as of June.

The momentum in Lojuxta revenues had continued into the second half, Amryt said, underpinned by a recent NHS England reimbursement approval and first orders being received for patients in the UK and Saudi Arabia.

The group added that the Phase III clinical trial for its AP101 treatment for Epidermolysis Bullosa (EB), a genetic skin disorder, was progressing well with the final patient required for the unblinded interim efficacy analysis to be enrolled by the end of September.

Earlier this month, the US Food and Drug Administration granted investigational new drug clearance for AP101.

In addition, pre-clinical studies for its AP103 EB treatment are expected to be concluded in the coming months with initial results anticipated in the fourth quarter.

Revenues for the full year were also expected to be in line with expectations.

In early morning trading Wednesday, Amryt shares were up 2.5% at 16.8p.

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