Business & Finance
BioMarin Pharmaceutical Inc reports financial results for 2019
27 February 2020 -

United States-based BioMarin Pharmaceutical Inc (NASDAQ: BMRN) has reported on Wednesday its 2019 financial results.

The company reported total revenues of USD1.7bn in 2019, up 14% compared to the year-ago period.

The firm posted cash, cash equivalents and investments at USD1.2bn in 2019 against USD1.3bn in 2018.

The company reported a GAAP net loss of USD23.8m for the full year 2019, compared with a GAAP net loss of USD77.2m for the full year 2018.

Commenting on 2019 results, Jean-Jacques Bienaimé, chairman and chief executive officer of BioMarin, said, 'Our performance in 2019 reflects the clinical, regulatory and financial goals we set for ourselves a year ago. We completed enrolment of the Phase 3 Interim Analysis cohort with valoctocogene roxaparvovec and met the criteria for expedited review of marketing applications in the United States and Europe. With those applications now under review by global health authorities, we await the potential approval of valoctocogene roxaparvovec, the first gene therapy product to be reviewed for the treatment of severe haemophilia A.'