Strong and Sustained Revenue Growth in Core Business and New Launch Countries
Amicus reported 17th consecutive quarter of double-digit revenue growth at CER, driven by Pompe and Fabry disease.
Q2 revenue reached $154.7 million, up 22% YoY, with significant contributions from newly launched countries including Italy, Switzerland, Portugal, Czech Republic, Sweden, and the Netherlands.
The company expects continued growth in these markets and plans to launch in up to 10 new countries in 2025.
Cash and cash equivalents ended at $370 million, with an additional $275 million received upfront from the Aspaveli capped royalty purchase agreement with Sobi.
EMPAVELI revenue was $21 million in Q2, up 5% quarter-over-quarter, with patient compliance at 97%.
Free goods usage impacted SYFOVRE revenue by approximately $13 million in Q2, with similar impacts expected for the rest of 2025.
Operating expenses were $212 million in Q2, down from $229 million in Q2 2024; 2025 OpEx expected to be in line with 2024.
SYFOVRE injections grew 6% quarter-over-quarter, with over 95,000 doses delivered (82,000 commercial and 13,000 free goods).
The royalty purchase agreement provides $275 million upfront plus $25 million in milestones, with defined caps allowing Apellis to participate in long-term upside.
Total revenue for Q2 2025 was $178 million, including SYFOVRE net product revenue of $151 million.
Cash, cash equivalents, and marketable securities totaled $539 million as of June 30, 2025, including $80 million raised through an ATM facility.
Crysvita contributed $120 million in Q2 2025, with $79 million from North America, $35 million from Latin America and Turkey, and $7 million from Europe.
Dojolvi generated $23 million, Evkeeza $15 million, and Mepsevii $8 million in Q2 2025, all showing steady growth.
Net cash used in operations was $108 million for Q2 and $275 million for the first half of 2025.
Net loss for the quarter was $115 million or $1.17 per share.
Total operating expenses were $274 million, including $165 million in R&D, $87 million in SG&A, and $23 million in cost of sales, with $39 million in noncash stock-based compensation.
Ultragenyx reported total revenue of $166 million in Q2 2025, a 13% increase over Q2 2024, and 20% growth for the first half of 2025 compared to the same period in 2024.
Adjusted EBITDA margin improved by 500 basis points to 8.4%, compared to 3.4% in Q2 2024, reflecting operational efficiencies and volume leverage.
Adjusted net loss improved to $10.2 million or $0.32 per share from $18.8 million or $0.61 per share in Q2 2024.
Adjusted operating expenses increased 16% year-over-year to $145.2 million due to remediation activities, global volume growth support, and investments in innovation and commercial initiatives.
Expanded access to Zio services as an in-network benefit to over 10 million additional patients in the U.S.
Gross margin was 71.2%, ahead of expectations, benefiting from volume leverage and operational efficiencies despite higher costs from increased Zio AT mix.
iRhythm reported Q2 2025 revenue of $186.7 million, up 26.1% year-over-year, driven by growth in core long-term continuous monitoring and Zio AT product lines.
New store growth accounted for approximately 68% of year-over-year volume growth, with home enrollment for Zio Services at about 23% of volume in the U.S.
Dafinchi