BioMarin Discontinues Preclinical Drug Candidate, Advances BMN 333 Toward 2030

On Tuesday, Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) reported second-quarter adjusted earnings of $1.44, up 50% year over year, beating the consensus of 85 cents and sales of $825.41 million, up 16%, beating the consensus of $760.39 million.

The sales increase was driven by strong 20% year-over-year growth in Voxzogo revenue from new patients initiating therapy across all regions. Global Voxzogo revenue growth in the quarter was led by U.S. contributions, with most new patients starting in the 0-4 year age group.

In the quarter, revenues from BioMarin’s Enzyme Therapies (Aldurazyme, Brineura, Naglazyme, Palynziq, and Vimizi) increased 15%, driven by a combination of increased patient demand in all regions and the timing of large government orders.

The increase was partially offset by lower Kuvan product revenues, which were attributed to continued generic competition due to the loss of market exclusivity.

Also Read: BioMarin Seeks Label Expansion For Palynziq After Positive Phase 3 Results In Adolescent Patients

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