UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 3, 2016

 

AMICUS THERAPEUTICS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

(State or Other Jurisdiction of

Incorporation)

 

001-33497

 

71-0869350

(Commission File Number)

 

(IRS Employer Identification No.)

 

1 Cedar Brook Drive, Cranbury, NJ

 

08512

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (609) 662-2000

 

 

(Former Name or Former Address, if Changed Since Last Report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 2.02.  Results of Operations and Financial Condition.

 

On May 3, 2016, Amicus Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2016. A copy of this press release is attached hereto as Exhibit 99.1. The Company will also host a conference call and webcast on May 3, 2016 to discuss its first quarter results of operations. A copy of the conference call presentation materials is also attached hereto as Exhibit 99.2.

 

In accordance with General Instruction B.2. of Form 8-K, the information in this Current Report on Form 8-K and the Exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits:  The Exhibit Index annexed hereto is incorporated herein by reference.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Amicus Therapeutics, Inc.

 

 

 

 

 

 

Date: May 3, 2016

By:

/s/ Ellen S. Rosenberg

 

 

Ellen S. Rosenberg

 

 

General Counsel and Corporate Secretary

 

3



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press Release dated May 3, 2016

99.2

 

May 3, 2016 Conference Call Presentation Materials

 

4


Exhibit 99.1

 

 

Amicus Therapeutics Announces First Quarter 2016

Financial Results and Corporate Updates

 

Positive CHMP Opinion for Broad Label of Migalastat

for Fabry Disease in Patients with Amenable Mutations

 

Actively Enrolling Patients Across Multiple Sites in Clinical Study to Investigate

Novel Enzyme Replacement Therapy for Pompe Disease

 

Company to Remain Within Original Full-Year 2016 Net Cash Spend Guidance of $135M-$155M

 

CRANBURY, NJ, May 3, 2016 — Amicus Therapeutics (Nasdaq: FOLD), a biotechnology company at the forefront of therapies for rare and orphan diseases, today announced financial results for the first quarter ended March 31, 2016. The Company also provided program updates and reiterated full-year 2016 net cash spend guidance.

 

John F. Crowley, Chairman and Chief Executive Officer of Amicus Therapeutics, Inc., stated, “At Amicus we have a clear vision to build a leading global biotechnology company focused on rare and devastating diseases. The positive CHMP opinion in Europe was a pivotal event for our company and for people living with Fabry disease. Our extraordinary international commercial team now stands ready to launch migalastat upon formal EC adoption. We also remain committed to advancing therapies for all patients with Fabry disease, including those with mutations that are non-amenable to migalastat. Thus, following the positive CHMP Opinion last month, we have also selected a novel Fabry ERT cell line to move forward in development for patients with these non-amenable mutations. With these two products, a precision medicine small molecule and a novel ERT, our vision is to have a medicine available to help all Fabry patients. Indeed, we believe that today our three lead clinical programs in Fabry, Pompe and EB each have the potential to extend and enhance the lives of people living with these respective disorders. This mission is our passion and our focus.”

 

First Quarter 2016 Financial Results

 

·                  Cash, cash equivalents, and marketable securities totaled $165.9 million at March 31, 2016 compared to $214.0 million at December 31, 2015.

 

·                  Total operating expenses in the first quarter of 2016 increased to $43.0 million compared to $24.1 million for the first quarter 2015 primarily due to increases in pre-commercial costs for the Fabry monotherapy program, the addition of the SD-101 program for EB, as well as manufacturing scale-up and clinical trial costs for the Pompe program.

 

·                  Net loss was $43.7 million, or $0.35 per share, compared to a net loss of $24.3 million, or $0.25 per share, for the first quarter 2015.

 

2016 Financial Guidance

 

Cash, cash equivalents, and marketable securities totaled $165.9 million at March 31, 2016. The Company’s balance sheet was strengthened during the second quarter of 2016 with $16.2 million in net proceeds under the existing at-the-marketing (ATM) financing facility.  In addition, the Company plans to access an additional $10.0 million under an existing debt facility.

 

Based on a detailed financial review after the positive CHMP opinion and through the continued careful management of expenses, the Company expects to remain within the original 2016 net cash spend guidance of between $135 million and $155 million. The current cash position, including proceeds raised from the ATM and the additional debt, is projected to fund operations into mid-2017.

 

Program Highlights

 

Migalastat for Fabry Disease

 

Migalastat is an oral personalized medicine intended to treat Fabry disease in patients who have amenable genetic mutations. Amicus has built a commercial organization that is prepared to launch migalastat upon approval in the EU and other international territories.

 



 

On April 1, 2016, the European Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion in favor of approval of migalastat as a first line therapy for Fabry disease in all patients who have an amenable genetic mutation. The label approved by the CHMP includes 269 Fabry causing amenable mutations, which represent up to half of all patients with Fabry disease.

 

The proposed indication for migalastat is for long-term treatment of adults and adolescents aged 16 years and older with a confirmed diagnosis of Fabry disease (alpha-galactosidase A deficiency) and who have an amenable mutation. A final decision from the European Commission (EC) is expected in the second quarter of 2016, after which the Company will begin the country-by-country reimbursement processes.

 

In the U.S., Amicus has substantially completed the Integrated Safety Summary across all clinical studies as requested by the U.S. Food and Drug Administration (FDA). New data analyses include gastrointestinal symptom data as well as histopathology data and longer-term renal and cardiac data across both Phase 3 clinical studies that were presented at WORLDSymposium™ 2016. The Company anticipates meeting with the FDA in mid-2016 to present these data and discuss a potential pathway to submit a New Drug Application (NDA) for migalastat in the U.S.

 

On the heels of a positive CHMP Opinion, Amicus is committed to delivering the highest quality therapies for all patients with Fabry disease beginning with migalastat as a personalized medicine for Fabry patients with amenable mutations. For patients with non-amenable mutations, the Company is leveraging its CHART technology and advanced biologics capabilities to move forward with a proprietary Fabry ERT cell line for co-formulation with migalastat. Master cell banking is now complete and process development work is underway. The Company intends to provide preclinical data and more information on the development pathway for this novel ERT in Fabry disease in the second half of 2016.

 

Anticipated Upcoming Fabry Disease Program Milestones:

 

·                  EC adoption and EU launch

 

·                  Expanded Access Program (EAP) in additional international territories

 

·                  Publication of Phase 3 Clinical Study 011 data

 

·                  FDA meeting and U.S. regulatory update

 

·                  Fabry ERT cell line development and preclinical data

 

ATB200/AT2221 for Pompe Disease

 

Patient dosing has begun in a global clinical study (ATB200-02) to investigate ATB200/AT2221, a novel treatment paradigm that consists of ATB200, a uniquely engineered recombinant human acid alpha-glucosidase (rhGAA) enzyme with an optimized carbohydrate structure to enhance uptake, co-administered with AT2221, a pharmacological chaperone to improve activity and stability. Up to approximately a dozen clinical sites are expected to participate in this study.

 

Anticipated 2016 Pompe Disease Program Milestones:

 

·                  Interim data from clinical study ATB200-02

 

SD-101 for Epidermolysis Bullosa (EB)

 

SD-101 is a novel, late-stage, proprietary topical treatment and potential first-to-market therapy for EB. SD-101 is currently being investigated in a registration-directed Phase 3 study (ESSENCE, also known as SD-005) to support global regulatory submissions. The company began a rolling NDA submission for SD-101 in the fourth quarter of 2015.

 

SD-101 was granted FDA Breakthrough Therapy designation in 2013 based on results from a Phase 2a study for the treatment of lesions in patients suffering with EB. SD-101 is the first-ever treatment in clinical studies to show improvements in wound closure across all major EB types.

 

Anticipated 2016 EB Program Milestones:

 

·                  Phase 2b (Study SD-003) data poster at Society of Investigative Dermatology’s (SID) 2016 SID Annual Meeting in Scottsdale, AZ from May 11-14, 2016

 

·                  Completion of enrollment in Phase 3 study

 



 

·                  Top-line Phase 3 data

 

Conference Call and Webcast

 

Amicus Therapeutics will host a conference call and audio webcast today, May 3, 2016 at 8:30 a.m. ET to discuss first quarter 2016 financial results and corporate updates. Interested participants and investors may access the conference call at 8:00 a.m. ET by dialing 877-303-5859 (U.S./Canada) or 678-224-7784 (international).

 

An audio webcast can also be accessed via the Investors section of the Amicus Therapeutics corporate web site at http://ir.amicusrx.com/events.cfm, and will be archived for 30 days. Web participants are encouraged to go to the web site 15 minutes prior to the start of the call to register, download and install any necessary software. A telephonic replay of the call will be available for seven days beginning at 11:30 a.m. ET today. Access numbers for this replay are 855-859-2056 (U.S./Canada) and 404-537-3406 (international); participant code 98970481.

 

About Amicus Therapeutics

 

Amicus Therapeutics (Nasdaq: FOLD) is a biotechnology company at the forefront of therapies for rare and orphan diseases. The Company has a robust pipeline of advanced therapies for a broad range of human genetic diseases. Amicus’ lead programs in development include the small molecule pharmacological chaperone migalastat as a monotherapy for Fabry disease, SD-101 for Epidermolysis Bullosa (EB), as well as novel enzyme replacement therapy (ERT) products for Fabry disease, Pompe disease, and other Lysosomal Storage Disorders.

 

Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 relating to preclinical and clinical development of our product candidates, the timing and reporting of results from preclinical studies and clinical trials, the prospects and timing of the potential regulatory approval of our product candidates, commercialization plans, financing plans, and the projected cash position for the Company. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Any or all of the forward-looking statements in this press release may turn out to be wrong and can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. For example, with respect to statements regarding the goals, progress, timing, and outcomes of discussions with regulatory authorities, and in particular the potential goals, progress, timing, and results of preclinical studies and clinical trials and the expected timing of the EMA’s final decision with respect to regulatory approval of migalastat in the European Union, actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in our business, including, without limitation: the potential that results of clinical or preclinical studies indicate that the product candidates are unsafe or ineffective; the potential that it may be difficult to enroll patients in our clinical trials; the potential that regulatory authorities, including the EMA, may not grant or may delay approval for our product candidates; the potential that we may not be successful in commercializing our product candidates if and when approved; the potential that preclinical and clinical studies could be delayed because we identify serious side effects or other safety issues; and the potential that we will need additional funding to complete all of our studies. Further, the results of earlier preclinical studies and/or clinical trials may not be predictive of future results. With respect to statements regarding projections of the Company’s cash position, actual results may differ based on market factors and the Company’s ability to execute its operational and budget plans. In addition, all forward-looking statements are subject to other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2015. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update this news release to reflect events or circumstances after the date hereof.

 

CONTACTS:

 

Investors/Media:

Amicus Therapeutics

Sara Pellegrino

Senior Director, Investor Relations

spellegrino@amicusrx.com

(609) 662-5044

 

Media:

Pure Communications

Dan Budwick

dan@purecommunicationsinc.com

(973) 271-6085

 



 

Table 1

 

Amicus Therapeutics, Inc.

Consolidated Statements of Operations

(Unaudited)

(In thousands, except share and per share amounts)

 

 

 

Three Months

 

 

 

Ended March 31,

 

 

 

2016

 

2015

 

Operating Expenses:

 

 

 

 

 

Research and development

 

$

23,425

 

$

16,113

 

General and administrative

 

15,701

 

6,427

 

Changes in contingent consideration payable

 

3,152

 

1,000

 

Restructuring charges

 

50

 

10

 

Depreciation

 

673

 

508

 

Total operating expenses

 

43,001

 

24,058

 

Loss from operations

 

(43,001

)

(24,058

)

Other income (expenses):

 

 

 

 

 

Interest income

 

307

 

171

 

Interest expense

 

(945

)

(372

)

Other expense

 

(52

)

(29

)

Net loss

 

$

(43,691

)

$

(24,288

)

 

 

 

 

 

 

Net loss per common share — basic and diluted

 

$

(0.35

)

$

(0.25

)

Weighted-average common shares outstanding — basic and diluted

 

125,178,517

 

95,743,416

 

 

See accompanying notes to consolidated financial statements

 



 

Table 2

 

Amicus Therapeutics, Inc.

Consolidated Balance Sheets

(Unaudited)

(in thousands, except share and per share amounts)

 

 

 

March 31,

 

December 31,

 

 

 

2016

 

2015

 

Assets:

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

 

$

23,510

 

$

69,485

 

Investments in marketable securities

 

142,341

 

144,548

 

Prepaid expenses and other current assets

 

2,662

 

2,568

 

Total current assets

 

168,513

 

216,601

 

 

 

 

 

 

 

Property and equipment, less accumulated depreciation and amortization of $13,996 and $13,353 at March 31, 2016 and December 31, 2015, respectively

 

8,413

 

6,178

 

In-process research & development

 

486,700

 

486,700

 

Goodwill

 

197,797

 

197,797

 

Other non-current assets

 

1,484

 

1,108

 

Total Assets

 

$

862,907

 

$

908,384

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable and accrued expenses

 

$

22,501

 

$

32,216

 

Current portion of contingent consideration payable

 

41,926

 

41,400

 

Total current liabilities

 

64,427

 

73,616

 

 

 

 

 

 

 

Deferred reimbursements

 

35,756

 

35,756

 

Due to related party

 

38,509

 

41,601

 

Contingent consideration payable, less current portion

 

235,303

 

232,677

 

Deferred tax liability

 

176,219

 

176,219

 

Other non-current liability

 

1,061

 

681

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

Common stock, $.01 par value, 125,000,000 shares authorized, 125,221,637 shares issued and outstanding at March 31, 2016, 125,000,000 shares authorized, 125,027,034 shares issued and outstanding at December 31, 2015

 

1,308

 

1,306

 

Additional paid-in capital

 

921,234

 

917,454

 

Accumulated other comprehensive loss:

 

 

 

 

 

Foreign currency translation adjustment

 

(65

)

 

Unrealized gain/(loss) on available for sale securities

 

114

 

(115

)

Warrants

 

12,298

 

8,755

 

Accumulated deficit

 

(623,257

)

(579,566

)

Total stockholders’ equity

 

311,632

 

347,834

 

Total Liabilities and Stockholders’ Equity

 

$

862,907

 

$

908,384

 

 

FOLD—G

 


Exhibit 99.2

 

1Q16 Financial Results Conference Call & Webcast May 3, 2016

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Safe Harbor This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to preclinical and clinical development of our product candidates, the timing and reporting of results from preclinical studies and clinical trials, the prospects and timing of the potential regulatory approval of our product candidates, commercialization plans, financing plans, and the projected cash position for the Company. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Any or all of the forward-looking statements in this presentation may turn out to be wrong and can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. For example, with respect to statements regarding the goals, progress, timing, and outcomes of discussions with regulatory authorities, and in particular the potential goals, progress, timing, and results of preclinical studies and clinical trials and the expected timing of the EMA’s final decision with respect to regulatory approval of migalastat in the European Union, actual results may differ materially from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: the potential that results of clinical or preclinical studies indicate that the product candidates are unsafe or ineffective; the potential that it may be difficult to enroll patients in our clinical trials; the potential that regulatory authorities, including the EMA, may not grant or may delay approval for our product candidates; the potential that we may not be successful in commercializing our product candidates if and when approved; the potential that preclinical and clinical studies could be delayed because we identify serious side effects or other safety issues; and the potential that we will need additional funding to complete all of our studies. Further, the results of earlier preclinical studies and/or clinical trials may not be predictive of future results. With respect to statements regarding projections of the Company's cash position, actual results may differ based on market factors and the Company's ability to execute its operational and budget plans. In addition, all forward-looking statements are subject to other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2015. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update this presentation to reflect events or circumstances after the date hereof. 2 Introduction

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Key Drivers of Value Introduction 3 3 Novel Product Candidates Each with $500M to $1B+ Market Potential Migalastat Personalized Medicine (Small Molecule) Positive CHMP Opinion (April 1, 2016) EC Adoption and EU Launch* FDA meeting expected mid-year 2016 Phase 3 Novel Topical Treatment (SD-101) U.S. Breakthrough Therapy Designation Rolling NDA Phase 3 Data Expected in 2H16 Novel ERT + Chaperone Treatment Paradigm Biologics Manufacturing Clinical Study Initiated with Interim Data Anticipated in 2016 R&D Engine and Continued Business Development Activity Pompe Epidermolysis Bullosa (EB) Fabry *Pending Approval

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Amicus 2016 – Continuing the Momentum 4 Introduction CHMP opinion for migalastat for Fabry FDA regulatory clarity for migalastat EB Phase 3 data Pompe clinical data 2016 Anticipated Milestones Chaperone Technology for LSDs Small molecules U.S. rights to migalastat Callidus acquisition Biologics Global rights to migalastat Positive Phase 3 data for migalastat Biologics scale-up International HQ MAA Submission Scioderm acquisition Pompe ERT in clinic Significant Milestones in 2016 2012 2013 2014 2015

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Migalastat Personalized Medicine for Fabry Disease

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Positive CHMP Opinion Recommending Broad Label for Migalastat Migalastat: Potential Personalized Medicine for Fabry Disease 6 Migalastat Indicated for Long-Term Treatment of Adults and Adolescents Aged > 16 years with a Confirmed Diagnosis of Fabry Disease and Who have an Amenable Mutation The evaluation of EMA’s Committee for Medicinal Products for Human Use (CHMP) was based on the results of two phase III clinical trials in about 110 patients with Fabry disease who had a genetic mutation which responds to migalastat. Galafold demonstrated its efficacy compared to placebo (a dummy treatment) and to ERT in a long-term comparative study. - EMA Press Release

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Launch Preparation Activities 7 Migalastat: Potential Personalized Medicine for Fabry Disease Experienced commercial leadership team with established international operations International distribution system Medical education and patient advocacy ongoing on behalf of Fabry patients Global value dossier complete and local submissions initiated Amicus is Prepared for 2016 Launch Patient and physician mapping

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Fabry Market Today Migalastat: Potential Personalized Medicine for Fabry Disease 8 Amicus is Prioritizing EU, Japan, US and Other Large Fabry Markets for Initial Launch $1.2B in FY15 ERT Sales1 1. Company filings and Amicus estimates 5k-10k Diagnosed WW (40-50% of Diagnosed Patients Not on ERT Today) Market Continues to Grow > 10% / Year U.S. 27% EU 34% ROW 26% 40-50% of Diagnosed Patients Not on ERT Today Market Continues to Grow > 10% / Year ERT Infused Once Every 2 Weeks First new product in > 10 years First oral therapy First targeted therapy for amenable patients (30%-50% of population) Japan 13%

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Global Regulatory Strategy Migalastat: Potential Personalized Medicine for Fabry Disease 9 FDA Meeting Anticipated in mid-2016 Positive CHMP Opinion (April 1, 2016) Expanded Access Program (EAP) Underway in International Territories EU Approval Lays the Foundation to Address ~70% of Global Fabry Market Regulatory Submission Process Initiated in Other Key Geographies

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Japan Market Overview Migalastat: Potential Personalized Medicine for Fabry Disease 10 Amicus is Actively Pursuing a Regulatory Pathway in Japan MARKET OVERVIEW ~650 patients treated No ERT home infusion currently available Physicians tend to initiate treatment early CLINICAL/REGULATORY STATUS Phase 1 PK study completed Multiple sites and patients participated in Phase 3 Study 012 Orphan drug designation Regulatory discussions initiated with PMDA

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Significant Underdiagnosis of Fabry Disease Migalastat: Potential Personalized Medicine for Fabry Disease 11 Larger Number of Patients Identified Through Newborn Screening Suggest Fabry Could be One of the More Prevalent Human Genetic Diseases Index Patient (3-5:1 Index) Burton, LDN WORLD Symposium, 2012 Feb. Mechtler et al., The Lancet, 2011 Dec. Hwu et al., Hum Mutation, 2009 Jun Spada et al., Am J Human Genet., 2006 Jul Majority of Newly Diagnosed Patients Have Amenable Mutations Newborn Screening Study # Newborns Screened # Confirmed Fabry Mutations % Amenable Burton, 2012, US 8,012 7 [1: ~1100] TBD Mechtler, 2011, Austria 34,736 9 [1: ~3,800] 100% Hwu, 2009, Taiwan 171,977 75 [1: ~2300] 75% Spada, 2006, Italy 37,104 12 [1: ~3100] 86% Historic published incidence 1:40,000 to 1:60,000

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Amicus Proprietary Fabry ERT Target Fabry ERT product profile: Improved drug targeting Co-formulation with chaperone Amicus Proprietary Fabry ERT 12 Building on Biologics Capabilities and CHART Platform to Develop Differentiated Novel ERT Development status: Cell line transferred to manufacturer Preclinical data update in 2H16

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Fabry Franchise Strategy Fabry Franchise 13 Amicus Therapeutics is Committed to Delivering the Highest Quality Therapies and Future Innovation to Find a Cure for ALL Fabry Patients ERTs ERTs Migalastat Amicus ERT (ERT+Chaperone) Migalastat Future Innovative Therapies Yesterday Today Tomorrow

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ATB200 Novel ERT for Pompe Disease A Proprietary, Clinical-Stage Biologics Program

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Pompe ERT - 3 Challenges Novel ERT for Pompe Disease – ATB200 + Chaperone 15 Activity/ Stability Rapid denaturation of ERT in pH of blood1 Tolerability / Immunogenicity Infusion-associated reactions in >50% of late-onset patients3 Uptake/ Targeting Low M6P receptor uptake into skeletal muscle2 Antibody titers shown to affect treatment outcomes4,5 Vast majority of rhGAA not delivered to lysosomes2 Protein Aggregation 1Khanna et al., PLoS ONE, 2012; 2Zhu et al., Amer. Soc. Gene Therapy, 2009 June; 3Banati et al., Muscle Nerve, 2011 Dec.; 4Banugaria et al., Gen. Med., 2011 Aug.; 5de Vries et al., Mol Genet Metab., 2010 Dec. Amicus Technology Platforms with Potential to Address Challenges with Existing Pompe ERT Uniquely Engineered rhGAA Optimized M6P & Carbohydrates

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Biologics Manufacturing Capabilities Novel ERT for Pompe Disease – ATB200 + Chaperone 16 Optimized Glycosylation and Key Quality Attributes Maintained Through Scale Up rhGAA lacks M6P; cannot be targeted to lysosomes rhGAA contains M6P; targeted to lysosomes Lyophilized Vial of ATB200 GAA Activity (nmol/mL/hr) GAA Activity (nmol/mL/hr) GAA Activity (nmol/mL/hr) M6P [mM] M6P [mM] M6P [mM] CI-MPR Receptor Chromatography GAA Activity M6P Bench Scale 5L Scale 250L Scale Proof of Concept Studies 0 20 40 60 80 0 1 2 3 4 5 8% 92% G A A A c t i v i t y ( n m o l / m L / h r ) M 6 P [ m M ] 0 15 30 45 60 0 1 2 3 4 5 5L Bioreactor Run G A A A c t i v i t y ( n m o l / m L / h r ) M 6 P [ m M ] GAA Activity M6P (mM) 11% 89% 0 20 40 60 80 0 1 2 3 4 5 Engineering Run 2 G A A A c t i v i t y ( n m o l / m L / h r ) M 6 P [ m M ] 9% 91%

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Pompe Program Update Novel ERT for Pompe Disease – ATB200 + Chaperone 17 Progress Continues in Phase 1/2 Pompe ATB200/AT2221 Co-Administration Study (ATB200-02) PHASE 1/2 STUDY STATUS Multiple Sites Opened Actively Dosing Patients Enrollment Ongoing Interim Data Expected 2H16

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SD-101 for Epidermolysis Bullosa (EB) Poised to deliver pivotal data for a devastating rare disease in 2016

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PHASE 3 STUDY STATUS >50% of target enrollment achieved 100% conversion to extension study (SD-006) Top-line Phase 3 data anticipated in 2H16 EB Program Update SD-101 for EB 19 Enrollment Continues at 16 Sites Globally with Top-Line Data Anticipated 2H16

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Financial Summary Strong Balance Sheet to Invest in Rare Disease Pipeline

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Strong Balance Sheet Financial Summary 21 Financial Position March 31, 2016 Current Cash: $165.9M Current Debt $50.0M FY16 Net Cash Spend Guidance: $135-$155M Cash Runway Mid-2017 Total Net Proceeds from ATM as of April 29 $16.2M Capitalization Shares Outstanding 125,221,637 Cash Position Provides Runway Under Current Operating Plan into mid-2017 Strong Balance Sheet Provides Cash Runway into Mid-2017

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1Q16 Select Financial Results Financial Summary 22 ($000s) March 31, 2016 March 31, 2015 R&D Expense 23,425 16,113 G&A Expense 15,701 6,427 Net Loss (43,691) (24,288) Net Loss Per Share (0.35) (0.25)

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Amicus Vision Introduction 23 Amicus Therapeutics is a global biotechnology company at the forefront of developing advanced therapies to treat a range of devastating rare and orphan diseases Potential First-in-Class / Best-in-Class Meaningful Benefits for Patients Rare & Devastating Diseases

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Thank You ©AMICUS THERAPEUTICS. CRANBURY, NJ. MAY 2016

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