Amicus Therapeutics Announces Second Quarter 2007 Financi...( CRANBURY N.J. Aug. 7 /- Amicus Th...),Health

CRANBURY, N.J., Aug. 7 /PRNewswire-FirstCall/ -- Amicus Therapeutics (Nasdaq: FOLD), a biopharmaceutical company developing small molecule, orally- delivered pharmacological chaperones for the treatment of human genetic diseases, today announced financial results for the second quarter of 2007. On a reported basis, calculated in accordance with U.S. generally accepted accounting principals (GAAP), Amicus announced a net loss attributable to common stockholders per share of $1.37 for the three months ended June 30, 2007. On a non-GAAP basis, Amicus reported a net loss attributable to common stockholders per share of $1.17 for the three months ended June 30, 2007. As of June 30, 2007, cash, cash equivalents, and marketable securities totaled $125.7 million.

"We continue to remain very confident in the potential for pharmacological chaperones to treat a range of human genetic diseases, beginning with the lysosomal storage disorders," stated John F. Crowley, President and CEO of Amicus Therapeutics. "We expect to deliver on three significant clinical milestones by the end of 2007: Phase II data for Amigal(TM) for Fabry disease; preliminary Phase II data in the 4-week Plicera(TM) switching study; and, complete Phase I data for AT2220 for Pompe disease."

Quarterly Highlights:

-- Amicus completed its IPO and sold a total of 5,000,000 shares of its

common stock at a public offering price of $15.00 per share. Gross

proceeds to Amicus totaled $75.0 million and after underwriting

discounts and commissions and offering expenses, net proceeds totaled

$68.1 million.

Financial Results

On a reported basis, the net loss attributable to common stockholders for the three
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SOURCE Amicus Therapeutics Copyright©2007 PR Newswire.

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