BioMarin Pharmaceutical Inc (NASDAQ:BMRN) has moved ahead to pronounce its fourth quarter and year end results. The Non-GAAP net loss for the quarter ended December 31, 2015 stood at $70.0 million whereas for the fourth quarter of 2014 a non-GAAP net loss of $10.7 million was recorded.
The non-GAAP net loss for year ended December 31, 2015 stood at $142.6 million whereas the non-GAAP net loss for the year ended December 31, 2014 was $25.7 million.
An official working with the business giant stated, “The increased non-GAAP net loss for the year ended December 31, 2015, compared to the prior year, is primarily due to increased research and development and selling, general and administrative expenses, partially offset by increased revenues from the global launch of Vimizim and strong Kuvan sales.”
The Chairman and Chief Executive Officer of BioMarin Jean-Jacques Bienaimé spoke to several journalists where he disclosed a number of crucial details. According to him, the company was making its 2016 entry from a position of strength considering that it is backed up by four factors.
He expressed great optimism in the fact that their established and growing commercial business might end up generating about one billion dollars in revenues in the course of this particular year. He hopes that with the passage of time it might scale higher to hit the $1.5 billion mark. That will most probably be by 2020.
The data readouts for pegvaliase and cerliponase alfa pulls along with the potential culminate in to some two new product filings and of all moves according to plan we might witness new product launches in the course of this particular year.
The other thing is also that the company has two potential $1 billion opportunities in development with BMN 270 and vosoritide for hemophilia A. Another company official while being interviewed in one of the media houses said that he looked forward to managing the growing business with the objective of attaining a non-GAAP break-even. It is expected that in April the company might be moving ahead to host its annual R&D Day.