Amryt Pharma advancing on multiple fronts

Amryt is a global commercial-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative treatments to help improve the lives of patients with rare and orphan diseases.

The company has a strong and growing portfolio of commercial and development assets.

Amryt has extended the patents on its lead development candidate, Oleogel-S10 and its recently acquired commercial product, Mycapssa.

For Oleogel-S10, a treatment for skin condition EB, the US patent office has issued a new formulation patent to Amryt, which will be listable in the Approved Drug Products or “Orange Book”. This patent will expire in January 2039.

If approved Oleogel-S10 will have four Orange Book-listed patents.

Mycapssa, an oral treatment for acromegaly, meanwhile has received a new US patent covering ‘methods of administering oral octreotide with certain oral contraceptives’.

Amryt Pharma has raised its full-year 2021 revenue guidance due to a strong performance from recent acquisition of Chiasma and its own commercial products.

Revenues are now expected in a range of US220mln – $225mln compared to previous guidance of US$210mln- $215mln.

Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT, FRA:3N9) has raised its full-year guidance after the biopharmaceutical company delivered a record set of results in its second quarter.

In its results for the quarter ended June 30, the company reported an operating profit before finance expense of US$4.1mln, swinging from a US$12mln loss a year ago, while revenues surged 35.9% to US$62.8mln.

Amryt Pharma has had its price target of US$40 and ‘buy’ rating reiterated by Canaccord after the company hosted a virtual capital markets day.

Opinion leaders spoke on the near-term growth opportunities with Filsuvez in epidermolysis bullosa (EB) and Mycapssa in acromegaly, said the broker, which has underlined its optimistic view.

The broker continues to expect US approval of Filsuvez in EB on its November 30 PDUFA date, which should serve as a significant catalyst for the share price.

Amryt Pharma PLC (AIM:AMYT, NASDAQ:AMYT, FRA:3N9) CEO Joey Wiley joined Proactive’s Stephen Gunnion to discuss the company’s second-quarter results, which show a 35.9% rise in revenue year-on-year.

Wiley noting that it’s the sixth consecutive quarter the company has reported positive EBITDA (core earnings) generation.

Given the strong performance year to date, Amryt has also raised its full-year 2021 revenue guidance to $210-$215 million.