real-time news and commentary for investors
Thursday, Oct 24
BioMarin loss wider than anticipated, shares slip
- BioMarin (BMRN) turns in a wider than expected Q3 loss.
- Revenue growth by product: Naglazyme, +1.1% to $63.2M; Aldurazyme, -1.7% to $23.4M; Kuvan, +19.8% to $43.6M; Firdapse, +13.9% to $4.1M (worth paying attention to for CPRX shareholders).
- Y/Y widening in adjusted EBITDA loss is attributable to "increased R&D expenses from advancing PEG-PAL, BMN 673 and BMN 701 [and] increased SG&A expenses."
- "The next major inflection point for the company is the potential market approval of Vimizim in the U.S. and Europe," CEO Jean-Jacques Bienaimé says. Upcoming events: Ad Com on November 19 and forthcoming CHMP opinion. (PR)
- BMRN -2.8% AH