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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: 198 GBX

AIM:AMYT
Market: AIM
Market Cap: £322.35 m
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Amryt Pharma reports record Q3 2020 results, delivering 19% year on year growth

Amryt Pharma's LON:AMYT) Joe Wiley talks to Proactive New York's Christine Corrado about their latest record Q3 2020 Results. The results have lead to the full year guidance being raised which Wiley puts down to two launched commercial assents, metreleptin and lomitapide. Wiley talks...

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