23rd Mar 2020 19:01
(Alliance News) - Rare diseases treatment developer Amryt Pharma PLC said on Monday recent performance has been positive, leading to double-digit revenue growth.
Amryt said fourth-quarter performance in 2019 was "strong", with this momentum continuing into the first quarter of 2020.
For 2019, revenue rose 13% to USD154.1 million.
As of December 31, Amryt had USD65 million in unrestricted cash, and it said its debt profile offers "significant" flexibility. It has no debt maturing before September 2024.
"Amryt is a well-capitalised resilient business with recurring revenues, a strong balance sheet and a robust supply of product to meet patient needs," said Chief Executive Joe Wiley.
"Our primary focus remains the safety and welfare of our colleagues, their families and our patients and partners. Despite the very significant challenges that Covid-19 presents, how we act now both as a company and as citizens will determine how we perform through these difficult times. The Amryt team are operating well in this environment and should it be necessary, we have further contingency plans in place to ensure we are able to adapt to additional challenges that may arise."
Amryt shares finished 0.5% lower on Monday in London at 98.00 pence each.
By George Collard; [email protected]
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