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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: 210 GBX

AIM:AMYT
Market: AIM
Market Cap: £332.85 m
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