Strong financial position supports clinical focus on advancing drug
candidates for treatment of lysosomal storage disorders
CRANBURY, N.J., May 13 /PRNewswire-FirstCall/ -- Amicus Therapeutics (Nasdaq: FOLD), a biopharmaceutical company developing small molecule, orally-administered pharmacological chaperones for the treatment of human genetic diseases, today announced financial results for the first quarter of 2008. On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), Amicus announced a net loss attributable to common stockholders of $0.34 per share ($0.28 per share on a non-GAAP basis) for the three months ended March 31, 2008. As of March 31, 2008, cash, cash equivalents, and marketable securities totaled $154.6 million.
"In the first quarter of 2008, we continued to advance our three lead clinical development programs. We also reported data from multiple clinical trials that add to the growing body of evidence demonstrating that treatment with our oral pharmacological chaperone drug candidates has the potential to benefit patients with Fabry, Gaucher and Pompe disease," said John F. Crowley, President and CEO of Amicus Therapeutics. "In the months ahead in 2008, we will be focused on advancing the global regulatory plan for Amigal Phase 3 development, evaluating opportunities for additional clinical studies in Gaucher and Pompe disease, as well as on identifying new therapeutic areas for applying our pharmacological chaperone technology platform."
Amigal(TM) (migalastat hydrochloride) is an investigational, oral
therapeutic being developed for the treatment of Fabry disease. In March,
|SOURCE Amicus Therapeutics|
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