Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT) announced revenue growth of 14.6% for the third quarter after sales of its lipodystrophy treatment metreleptin soared 21.5%.
Revenue rose to US$56.5mln in the three months to end-September from US$49.3mln in the same period last year.
Metreleptin revenues rocketed by 21.5% to US$36.3mln in the third quarter. Excluding Latin America, where ordering has been sporadic, sales of the drug were 51.6% higher.
The biopharma company, which specialises in rare diseases, reaffirmed its full-year revenue guidance of UD$220mln-US$225mln, representing year-on-year growth of 20%-23%.
Operating losses before finance expenses widened to US$21.4mln from US$3.6mln.
Underlying profits (EBITDA before restructuring and acquisition costs) totalled US$6.2mln. Excluding costs related to the acquisition of Chiasma in August, this was the 7th consecutive quarter of positive EBITDA generation, Amryt noted.
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The company had cash of US$123.2mln at the end of September, compared with US$142.9mln at the end of June, following the repayment of outstanding Chiasma revenue interest financing debt and transaction-related costs in the period.
Chief executive Joe Wiley said: “These results clearly demonstrate the strong performance of metreleptin in all regions. Overall, the results also demonstrate the strong growth we are experiencing across our business and represent our seventh consecutive quarter of positive EBITDA generation and this performance has been delivered despite the challenging COVID pandemic.”
Amryt shares jumped almost 5% to 170.00p in early afternoon trade.