Amryt reports €7.8M loss for 2016, enters 2017 with new in-license drug and two clinical trials

Amryt, the pharmaceutical company focused on treatments for rare and orphan diseases, has reported its final results for the year ended 31 December 2016.

The company reported €7.8 million loss for the period. The loss has grown in 2016 compared to the last year’s loss of €1.2 million.

Joe Wiley, CEO of Amryt Pharma, said: “Amryt has made significant progress, both strategically and operationally. A landmark point came in December 2016 when we reached an agreement to in-license the drug, Lojuxta, which treats a rare, life-threatening disorder, HoFH. The agreement has provided us with a cash generative product, with untapped sales potential, as well as a pan-European infrastructure which we can use for other drug assets.  Building Lojuxta sales will be a major focus for us over 2017.”

Wiley also spoke about progress that company has made with AP101, a potential treatment for Epidermolysis Bullosa (EB), a rare and distressing skin disorder with no approved treatment, and AP102, an earlier stage asset with the potential to treat acromegaly. He said: “In December we secured a favourable funding facility from the EIB which will support our continuing development”.

This week Amryt has announced that it has begun with “EASE”, the Phase 3 clinical trial of AP101 for EB treatment and it anticipates the results of an interim analysis of this study in early 2018.

“We view prospects for the Company’s ongoing development very positively and look forward to providing further updates,” Wiley concluded.