the EMEA acceptance of the Kuvan filing for marketing approval. The net
loss for the year ended December 31, 2007 was $15.8 million ($0.16 per
share), compared to a net loss of $28.5 million ($0.34 per share) for the
year ended December 31, 2006. Non-cash stock compensation expense for the
three months and year ended December 31, 2007 was $5.5 million and $18.3
million, respectively, compared to $3.1 million and $9.6 million,
respectively, for the three months and year ended December 31, 2006.
As of December 31, 2007, BioMarin had cash, cash equivalents, and
short-term investments totaling $585.6 million.
"We achieved many significant milestones in 2007, most notably, the FDA
approval of Kuvan and the filing of the IND for PEG-PAL for PKU," said
Jean-Jacques Bienaime, Chief Executive Officer of BioMarin. "We also
continued building our pipeline with the in-licensing of promising
compounds. As we look forward in 2008, we are focused on ensuring the
successful commercial launch of Kuvan, further advancement of our research
programs, and new in-licensing opportunities. Overall, we expect continued
global expansion of Naglazyme and the U.S. launch of Kuvan to contribute to
the improvement of our bottom line."
Net revenue from Naglazyme(R) (galsulfase), an enzyme replacement
therapy for mucopolysaccharidosis VI (MPS VI), was $25.5 million for the
fourth quarter of 2007, an increase of 56.4 percent compared to net revenue
of $16.3 million for the fourth quarter of 2006. Net revenue from Naglazyme
for the year ended December 31, 2007 was $86.2 million, an increase of 85.4
percent from net revenue of $46.5 million for the year ended December 31,
2006. BioMarin is commercializing Naglazyme in the United States, Europe,
and Latin America, and through distributors in other international markets.
Net revenue from Aldurazyme(R) (laronidase), an enzyme replacement
therapy for mucopolysaccharidosis I, (MPS I) recorded by BioMarin
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|SOURCE BioMarin Pharmaceutical Inc.|
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