BioMarin Pharmaceutical Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing total revenues of $776.1 million for the quarter, a 4.1% increase from $745.7 million in the same period of 2024. For the nine months ended September 30, 2025, total revenues reached $2.35 billion, up 11.4% from $2.11 billion in the prior year. The company's net product revenues also saw an increase, totaling $760.8 million for the third quarter, compared to $733.9 million in the previous year, and $2.31 billion for the nine-month period, up from $2.07 billion.
Despite the revenue growth, BioMarin reported a net loss of $30.7 million for the third quarter, a significant decline from a net income of $106.1 million in the same quarter of 2024. The nine-month results showed a net income of $395.5 million, an increase from $301.9 million in the prior year. The company's operating expenses rose sharply, totaling $822.8 million for the third quarter, compared to $631.8 million in the same period last year, driven primarily by increased research and development costs, which surged to $409.5 million from $184.9 million.
Strategically, BioMarin completed the acquisition of Inozyme Pharma, Inc. in July 2025 for approximately $285 million, which is expected to enhance its enzyme therapies portfolio. The acquisition was accounted for as an asset acquisition, with a significant portion of the purchase price allocated to in-process research and development (IPR&D) expenses. The company also announced plans to explore divestment options for its product ROCTAVIAN, while continuing to support patients currently on the therapy.
Operationally, BioMarin's cash and cash equivalents increased to $1.25 billion as of September 30, 2025, up from $942.8 million at the end of 2024. The company reported a significant increase in cash provided by operating activities, totaling $728.4 million for the nine months ended September 30, 2025, compared to $387.2 million in the same period of 2024. The company’s employee headcount also grew, reflecting its ongoing investment in research and development and commercial operations.
Looking ahead, BioMarin remains focused on advancing its product pipeline and expanding its market presence. The company is actively monitoring macroeconomic conditions that could impact its operations, including inflation and currency fluctuations. BioMarin's management expressed confidence in its ability to meet liquidity requirements through cash flows from operations and existing cash reserves, while also preparing for potential future financing needs to support ongoing development and commercialization efforts.
About BIOMARIN PHARMACEUTICAL INC
BioMarin Pharmaceutical Inc. is a global biotechnology company specializing in developing and commercializing therapies for rare genetic diseases. Its core products include enzyme replacement therapies and gene therapies targeting conditions like mucopolysaccharidosis, achondroplasia, phenylketonuria, Batten disease, and hemophilia A. BioMarin serves patients worldwide through direct sales and partnerships, leveraging proprietary biologics, gene therapy platforms, and a strong intellectual property portfolio to address unmet medical needs in specialized markets.
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