Amicus Therapeutics Announces Second Quarter 2007 Financi... (nced as a result of our disclosingthese ...)

Amicus Therapeutics Announces Second Quarter 2007 Financial Results

Date:8/19/2007

nced as a result of our disclosing these non-GAAP financial measures. Non-GAAP net income and diluted EPS should not be viewed in isolation or as a substitute for reported, or GAAP, net income and diluted EPS.

(1) Stock option expense -- Non-GAAP net income and diluted EPS exclude

the impact of our stock option expense recorded in accordance with

SFAS No. 123R. We believe that excluding the impact of expensing stock

options better reflects the recurring economic characteristics of our

business.

(2) Other items -- Non-GAAP net income and diluted EPS exclude other

unusual or non-recurring items that are evaluated on an individual

basis. Our evaluation of whether to exclude an item for purposes of

determining our non-GAAP financial measures considers both the

quantitative and qualitative aspects of the item, including, among

other things (i) its size and nature, (ii) whether or not it relates

to our ongoing business operations, and (iii) whether or not we expect

it to occur as part of our normal business on a regular basis. Items

excluded for purposes of determining non-GAAP net income and diluted

EPS include deemed dividends, preferred stock accretion, and changes

in the fair value of warrant liability.

About Amicus Therapeutics

Amicus Therapeutics is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has two product candidates in Phase II clinical trials, Amigal(TM)
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SOURCE Amicus Therapeutics

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