Amryt Pharma has today reported record revenues for the second quarter to the end of June and said that it had started its share buyback programme.
The company, which focuses on the development and commercialisation of treatments for orphan and rare diseases patients, said its revenues grew by 9.2% to $68.5m from $62.8m the same time last year.
Amryt also reported an operating loss of $6.9m before finance expenses for the second quarter, up from an operating loss of $4.1m the same time last year.
It said that excluding non-cash items, share based compensation expenses and Chiasma restructuring and acquisition costs, this resulted in EBITDA of $13.3m, before restructuring and acquisition costs.
During the quarter, the European Commission approved its Filsuvez product for the treatment of EB in patients six months and older.
It said this approval marked one of the most significant milestones in Amryt's history and also represented a major positive development for European patients that suffer from the debilitating condition.
The company also said its metreleptin drug continues to grow strongly, delivering 49.9% year on year growth in the quarter, excluding the impact of a sporadic LATAM order booked in the second quarter of last year.
"Overall, these results demonstrate the robust growth we are experiencing and represent our tenth consecutive quarter of positive EBITDA generation," the company's chief executive Joe Wiley said.
"Given the strong underlying performance of our business year to date and notwithstanding the impact of the strengthening US dollar on our euro revenues, we are today reaffirming our full year 2022 revenue guidance of $260-$270m which represents growth of 17%-21% over 2021," Mr Wiley added.
