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Amryt Pharma reports record quarter and raises full year 2021 outlook
StockMarketWire.com
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Biopharmaceutical company Amryt Pharma has posted record results, and as a result has revised its full year outlook.
The company reported revenue growth of 35.9% year-on-year in Q2 to $62.8 million, while the groups operating profit before finance expense stood at $4.1 million, up from a loss of $12 million in the same period last year. Following the successful quarter, Amryt has risen its full year 2021 outlook, with revenue now expected to be between $210 million and $215 million for the year, representing 15-18% growth.
Amryt CEO Joe Wiley said: Q2 was an extremely busy and productive period for Amryt and I am excited to present todays record results and also report that we have completed the acquisition of Chiasma, Inc.
Our Q2 revenues of $62.8 million represent a 35.9% increase on the previous year and 29.6% growth on Q1 2021. These results demonstrate the positive momentum and strong growth we are experiencing across our business, supported by our exceptional team who during the quarter delivered several important commercial and regulatory successes.
Our commercial products, metreleptin and lomitapide, continued to deliver solid growth across a host of metrics including revenue, EBITDA, cash generation and market expansion. Importantly, our EBITDA has increased 152% compared to the same quarter in 2021 and our cash balances increased to $142.9M at the end of the quarter.
At 2:43pm: (LON:AMYT) Amryt Pharma PLC share price was 0p at 206p
Story provided by StockMarketWire.com
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