Biopharma group Amryt reports 19% jump in revenue in third quarter

Results are a record for Dublin-based company, which has recently listed on Nasdaq

In September, Amryt announced positive data from trials of a new drug for the rare skin condition epidermolysis bullosa (EB)

In September, Amryt announced positive data from trials of a new drug for the rare skin condition epidermolysis bullosa (EB)

 

Dublin-based biopharmaceutical company Amryt Pharma said revenue rose 19 per cent to $49.3 million (€41.7 million) in the third quarter of 2020.

The company, which focuses on treatments for rare and infectious diseases, was recently listed on the Nasdaq in the US.

In September, Amryt also announced positive data from trials of a new drug for the rare skin condition epidermolysis bullosa (EB).

In its results, the company raises its full-year revenue guidance to between $180 million and $182 million.

It reported strong cash generation during the nine months to September, with $21 million of cash generated from operating activities year-to-date and $11.4 million during the quarter.

“I am very pleased with today’s record results which demonstrate the positive performance and growth that our commercial products are delivering, alongside the significant progress we are achieving in our exciting development pipeline of new therapeutic drug candidates,” chief executive Joe Wiley said.

“The positive momentum we experienced during the first half of the year has continued through Q3, and I am very pleased with both our revenue growth and positive cash momentum,” he said.

The company also noted that the integration with newly acquired Aegerion completed ahead of time.