Amicus Therapeutics Inc., of Cranbury, N.J., reported global revenue from Fabry disease drug Galafold (migalastat) totaling $60.5 million for the first quarter of 2020 and said the firm continues to expect full-year revenue guidance of $250 million to $260 million. First-quarter revenue was a jump of 78% year over year. Net loss for the quarter was $88.9 million, or 35 cents per share, compared to a net loss of $120.3 million, or 56 cents per share, for the first quarter of 2019. As of March 31, Amicus had cash, cash equivalents and marketable securities totaling $338.9 million. The company’s shares (NASDAQ:FOLD) closed May 7 at $11.62, down 24 cents.
Ironwood Pharmaceuticals Inc., of Boston, reported total first-quarter revenues of $79.9 million. U.S. sales of Linzess (linaclotide), approved for irritable bowel syndrome with constipation and chronic constipation, reached $172.2 million for the quarter, up 7% over the first quarter of 2019, as reported by partner Allergan plc, of Dublin. The company reported total prescription demand increased 11% in the first quarter vs. the same period in 2019, with a higher rate of growth in demand during the final two weeks of the quarter, attributed to patient stocking due to COVID-19. Ironwood reported GAAP net income of $3.3 million, or 2 cents per share. As of March 31, the firm had $231 million in cash and equivalents. Shares of Ironwood (NASDAQ:IRWD) closed May 7 at $10.16, down 24 cents.