5/1/2025

speaker
Travis
Conference Call Operator

Good morning, ladies and gentlemen, and welcome to the Amicus Therapeutics First Quarter 2025 Financial Results Conference Call and Webcast. At this time, participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, this conference call, it is being recorded. I would now like to turn the conference call over to your host, Mr. Andrew Fonin, the Vice President of Investor Relations. You may now begin.

speaker
Andrew Fonin
Vice President of Investor Relations

Thank you, Travis. Good morning. Thank you for joining our conference call to discuss Amicus Therapeutics first quarter 2025 financial results and corporate highlights. Leading today's call, we have Bradley Campbell, President and Chief Executive Officer, Sebastian Martel, Chief Business Officer, Dr. Jeff Costelli, Chief Development Officer, and Simon Harford, Chief Financial Officer. Joining for Q&A is Ellen Rosenberg, Chief Legal Officer. As referenced on slide two of the presentation, I would like to remind you that we will be making forward-looking statements on today's call. I encourage you to read the disclaimers in our slide presentation, the press release we issued this morning, and the disclosures in our SEC filings, which are all available on the IR portion of our corporate website. Forward-looking statements are subject to substantial risks and uncertainties, speak only as of the call's original date, and then we undertake no obligation to update or revise any of the statements. Additionally, you are cautioned not to place undue reliance on any forward-looking statements. At this time, it is my pleasure to turn the call over to Bradley Campbell, President and Chief Executive Officer. Bradley?

speaker
Bradley Campbell
President and Chief Executive Officer

Great. Thank you, Andrew, and welcome, everyone, to our first quarter conference call. Before we get into the details with the backdrop of what has certainly been a tumultuous quarter in biotech, I thought it would be valuable for me to frame the incredibly positive outlook we see for amicus going forward. First of all, I'm very pleased to share that we have delivered yet another quarter of strong double-digit revenue growth on our core business in Pompeii and Fabry. This is now our 11th consecutive quarter with double-digit sales growth, and we see that trend continuing for years to come. Second, we were thrilled to have entered into a strategic collaboration with Dimerix that for a modest upfront brings into our pipeline the US commercialization rights to a first in class compound in late phase three development for a rare fatal kidney disease with blockbuster market potential. Third, we continue to strengthen and diversify our supply chain. Through prudent operations and planning, we were able to effectively neutralize exposure to any potential tariffs this year. We also announced today that we are onshoring a portion of our drug product manufacturing from Pombility to enhance our diversification strategy even further. While quarterly revenues for the Gallup Fold and Palm Op were impacted by some unexpected factors, we are highly confident in the acceleration in sales we'll see through the remainder of the year, resulting in combined revenue projections within 2% of our original guidance and yet another year of double-digit growth. Fifth, we reiterated our confidence that these two products, each with potential blockbuster sales, at peak will reach combined sales of $1 billion by the end of 2028. And finally, as we maintain our financial discipline, we reiterated that we are on track to achieve gap profitability in the second half this year. Taken together, we are confident that what we have achieved this quarter leaves Anarchist uniquely well-positioned to create substantial value for shareholders and deliver on our mission for patients. With that, let me hand the call over to Sebastian to dive into the business in more detail. Sebastian?

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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Investor presentation