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Amicus Therapeutics Announces Second Quarter 2008 Financial Results
Date:8/7/2008

Successful End of Phase 2 Meeting with the FDA for the Fabry Program and

Initiation of Phase 2 Clinical Trial in Pompe are Highlights for the

Quarter

CRANBURY, N.J., Aug. 7 /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 second 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 $0.41 per share ($0.33 per share on a non-GAAP basis) for the three months ended June 30, 2008. As of June 30, 2008, cash, cash equivalents, and marketable securities totaled $145.0 million.

"The second quarter of 2008 was significant for Amicus. We initiated a Phase 2 trial of AT2220 for the treatment of Pompe disease, which is the third product from our pharmacological chaperone platform to enter Phase 2 development. We also successfully completed an End of Phase 2 meeting with the FDA related to our development of Amigal for the treatment of Fabry Disease," said John F. Crowley, President and CEO of Amicus Therapeutics. "In the second half of 2008, we will be focused on finalizing the regulatory plan in Fabry as well as executing on our Gaucher and Pompe Phase 2 clinical programs, and we have tightened our financial outlook as well by reducing our anticipated 2008 cash burn."

Program Advancements

Fabry Disease:

Amigal(TM) (migalastat hydrochloride) is an investigational, oral therapeutic being developed for the treatment of Fabry disease. Previous
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SOURCE Amicus Therapeutics
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