Amicus Therapeutics (FOLD) stock plummeted 5.02% during the pre-market trading session on Thursday, following the company's Q4 2024 earnings release and conference call. Despite reporting strong financial results and growth expectations, investors appeared disappointed with the company's outlook for its newly launched PomOp therapy for late-onset Pompe disease.
The company reported total revenue of $528 million for the full year 2024, representing a 32% growth year-over-year, driven by the strong performance of its Fabry disease treatment Galafold. Galafold revenue reached $458 million, up 18% from the previous year, and the company expects double-digit growth for Galafold in 2025, forecasting revenue growth of 10% to 15% at constant exchange rates.
However, the focus was on the growth outlook for PomOp (Pombiliti and Opfolda), the company's recently launched therapy for late-onset Pompe disease. While PomOp reported revenue of $70.2 million in its first year of launch, the company's guidance for 2025 revenue growth of 65% to 85% at constant exchange rates appeared to disappoint investors. Amicus stated plans to launch PomOp in up to 10 new countries in 2025, including key markets like the Netherlands, Italy, and Japan, but the rollout and uptake may have been slower than expected.
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