Amicus Therapeutics Q2 Losses Narrow, Beat Street Views

Biotech firm Amicus Therapeutics reported a Q2 net loss per share of $0.34, compared to a loss of $0.40 for the same period last year, but ahead of the Capital IQ consensus forecast of a loss of $0.37.Revenues for the quarter were $7.2 million, which surpassed the analyst forecast of $6.5 million. There were no comparable revenue figures for the year-ago quarter.

The company said it expects full-year 2017 net operating cash spend of between $175 million and $200 million, and total net cash spend (including third-party milestone payments and capital expenditures) of between $200 million and $225 million. The current cash position, in addition to the net proceeds of $243.2 million from the follow-on public offering, is anticipated to fund ongoing operations into at least the second half of 2019.

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