Amryt Pharma has announced record full year results for the year to the end of December as its revenue growth exceeded expectations.
The company, which focuses on the development and commercialisation of treatments for orphan and rare diseases patients, said its revenues grew by 18.5% to $182.6m from $154.1m in 2019.
It reported an operating loss before finance expenses for the year of $46.5m compared to a loss of $50.5m the previous year.
Excluding non-cash items and share based compensation expenses, it said this resulted in EBITDA of $30.4m for the year.
Amryt also reported strong cash generation during 2020, with $26.9m of cash generated from operating activities, of which $5.8m was generated in the fourth quarter.
The company said that given the strong performance of the business in 2020, it is now issuing revenue guidance of $200-$205m for 2021, which it said demonstrated its confidence in its future prospects.
Joe Wiley, CEO of Amryt Pharma, said the company was seeing significant progress on its "exciting" development pipeline of new therapeutic drug candidates.
The chief executive said the business continues to perform and grow strongly.
"In particular, our revenue growth exceeded expectations and the fact that we turned EBITDA profitable has translated into a significant increase in our cash balances," he added.
Mr Wiley said that 2020 was a challenging year as a result of the global pandemic but the company's business model proved resilient and capable of overcoming the challenges the pandemic presented.
