Amicus Therapeutics Reports 13.4% Increase in Net Product Sales for Q1 2025

Amicus Therapeutics, Inc. reported a net product sales increase of 13.4% for the first quarter of 2025, reaching $125.2 million compared to $110.4 million in the same period of 2024. The growth was primarily driven by strong sales of its therapies, Galafold® and Pombiliti® + Opfolda®, which saw respective revenues of $104.2 million and $21.0 million. The company also reported a gross profit of $113.6 million, up from $96.8 million a year earlier, while the cost of goods sold decreased to $11.7 million from $13.6 million, contributing to improved profitability metrics.

Operating expenses for the quarter totaled $121.5 million, a slight decrease from $124.6 million in the prior year. Research and development expenses remained relatively stable at $27.8 million, while selling, general, and administrative expenses increased to $91.8 million from $88.0 million, reflecting higher personnel costs and facility expenses. Notably, the company did not incur restructuring charges in the current quarter, contrasting with $6.0 million in the previous year. As a result, Amicus reported a net loss attributable to common stockholders of $21.7 million, significantly reduced from a loss of $48.4 million in the first quarter of 2024.

In terms of operational developments, Amicus continues to expand its market presence, particularly with Galafold®, which is now approved in over 40 countries. The company has also made strides in the commercialization of Pombiliti® + Opfolda®, which has received regulatory approvals in multiple regions, including the U.S. and Europe. As of March 31, 2025, Amicus held $250.6 million in cash, cash equivalents, and marketable securities, providing a solid financial foundation to support ongoing operations and research initiatives.

A significant strategic development occurred on April 30, 2025, when Amicus entered into an exclusive license agreement with Dimerix Limited for the commercialization of DMX-200, a Phase 3 drug candidate for Focal Segmental Glomerulosclerosis (FSGS). This agreement includes a $30 million upfront payment and potential milestone payments totaling up to $75 million, along with tiered royalties on net sales. This move is expected to enhance Amicus's product pipeline and market offerings in the rare disease sector.

Looking ahead, Amicus anticipates continued losses into the second half of 2025, driven by ongoing research and development expenditures. However, the company believes its current cash position is sufficient to fund operations for at least the next 12 months. The management remains focused on expanding its product portfolio and exploring business development opportunities to enhance shareholder value and support its mission of delivering innovative therapies for rare diseases.