0001178879-23-000013 | 10-Q | XBRL Viewer

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Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
Intangible Assets - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Initial regulatory exclusivity period		7 years
Amortization expenses of intangible assets	$ 0.8	$ 0.9
Remainder of fiscal year 2023	2.5	2.5
2024	$ 3.3	$ 3.3

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholder's EquityDuring the three and six months ended June 30, 2023, the Company issued and sold an aggregate of 2,047,353 and 2,242,582 shares, respectively, through its at-the-market equity program ("ATM program") at weighted-average public offering prices of $12.21 and $12.25 per share, resulting in net proceeds of $24.2 million and $26.6 million, respectively. As of June 30, 2023, an aggregate of $222.5 million worth of shares remain available to be issued and sold under the ATM program.

- Definition

The entire disclosure for equity.

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net loss	$ (96,164)	$ (147,417)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount and deferred financing	1,359	1,295
Depreciation and amortization	3,463	2,745
Stock-based compensation	51,471	43,114
Non-cash changes in the fair value of contingent consideration payable	588	(1,073)
Foreign currency remeasurement loss	23,904	353
Deferred taxes	(4,939)	0
Asset impairment charges and other asset write-offs	2,060	12,265
Changes in operating assets and liabilities:
Accounts receivable	2,705	(4,424)
Inventories	(27,483)	3,537
Prepaid expenses and other current assets	(12,263)	(4,481)
Accounts payable, accrued expenses, and other current liabilities	31,620	22,671
Other non-current assets and liabilities	(2,586)	(2,762)
Payment of contingent consideration	(7,937)	0
Net cash used in operating activities	(34,202)	(74,177)
Investing activities
Sale and redemption of marketable securities	126,848	184,061
Purchases of marketable securities	(36,448)	(98,330)
Capital expenditures	(4,144)	(1,226)
Net cash provided by investing activities	86,256	84,505
Financing activities
Payment of finance leases	(51)	(41)
Withholding taxes paid on vested restricted stock units	(14,008)	(9,278)
Proceeds from stock options exercised, net	4,405	1,858
Proceeds from warrants exercised, net	12	0
Proceeds from the issuance of shares in connection with at-the-market offering, net of issuance costs	26,553	0
Payment of contingent consideration	(1,063)	0
Net cash provided by (used in) financing activities	15,848	(7,461)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(6,684)	(12,462)
Net increase (decrease) in cash, cash equivalents, and restricted cash at the end of the period	61,218	(9,595)
Cash, cash equivalents, and restricted cash at the beginning of period	153,115	249,456
Cash, cash equivalents, and restricted cash at the end of period	214,333	239,861
Supplemental disclosures of cash flow information
Cash paid during the period for interest	23,155	15,108
Cash paid for taxes	5,978	710
Capital expenditures unpaid at the end of period	$ 297	$ 53

Stock-Based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs	$ 43.4
Unrecognized compensation costs, period for recognition (in years)	3 years
Unvested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs	$ 68.5
Unrecognized compensation costs, period for recognition (in years)	2 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Cash, Cash Equivalents, and Short-Term Investments [Abstract]
Cash and cash equivalents	$ 211,307,000	$ 148,813,000	$ 235,639,000
Available-for-sale debt securities	54,319,000	144,782,000
Debt securities, realized gain (loss)	0	0
Fair value of available-for-sale debt securities in unrealized loss positions	$ 3,000,000	$ 0

Debt - Summary of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net carrying value of Long-term debt	$ 393,350	$ 391,990
Senior Loans \| Senior Secured Term Loan due 2026
Debt Instrument [Line Items]
Principal	400,000	400,000
Less: debt discount	(3,795)	(4,571)
Less: deferred financing	$ (2,855)	$ (3,439)

- Definition

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-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (b)(1)
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Assets and Liabilities Measured at Fair Value

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

The Company's financial assets and liabilities are measured at fair value and classified within the fair value hierarchy, which is defined as follows:

Level 1 — Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 — Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.

Level 3 — Inputs that are unobservable for the asset or liability.

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of June 30, 2023 are identified in the following tables:


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	44,031	$	44,031
U.S. government agency bonds	9,887		9,887
Money market	7,133		7,133
	$	61,051	$	61,051


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	13,005	$	13,005
Deferred compensation plan liability	6,783		—		6,783
	$	6,783	$	13,005	$	19,788

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2022 are identified in the following tables:


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	144,381	$	144,381
Money market	5,808		5,808
	$	150,189	$	150,189


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	21,417	$	21,417
Deferred compensation plan liability	5,458		—		5,458
	$	5,458	$	21,417	$	26,875

The Company's Senior Secured Term Loan due 2026 falls into the Level 2 category within the fair value level hierarchy and the fair value was determined using quoted prices for similar liabilities in active markets, as well as inputs that are observable for the liability (other than quoted prices), such as interest rates that are observable at commonly quoted intervals. The carrying value of the Senior Secured Term Loan due 2026 approximates the fair value.

The Company did not have any Level 3 assets as of June 30, 2023 or December 31, 2022.

Cash, Money Market Funds, and Marketable Securities

The Company classifies its cash within the fair value hierarchy as Level 1 as these assets are valued using quoted prices in an active market for identical assets at the measurement date. The Company considers its investments in marketable securities as available-for-sale and classifies these assets and the money market funds within the fair value hierarchy as Level 2 primarily utilizing broker quotes in a non-active market for valuation of these securities.

Contingent Consideration Payable

The contingent consideration payable resulted from the acquisition of Callidus Biopharma, Inc. ("Callidus") in November 2013. The most recent valuation was determined using a probability weighted discounted cash flow valuation approach. Gains and losses are included in the Company's Consolidated Statements of Operations.

The contingent consideration payable for Callidus has been classified as a Level 3 recurring liability as its valuation requires substantial judgment and estimation of factors that are not currently observable in the market. If different assumptions

were used for the various inputs to the valuation approach, the estimated fair value could be significantly higher or lower than the fair value the Company determined.

The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:

Contingent Consideration

Liability

Fair Value as of June 30, 2023

Valuation Technique

Unobservable Input

Range

(in thousands)

Discount rate

11.7%

Clinical and regulatory milestones

13,005

Probability weighted discounted cash flow

Probability of achievement of milestones

88%

Projected year of payments

2023

Contingent consideration liabilities are remeasured to fair value each reporting period using discount rates, probabilities of payment, and projected payment dates. Projected contingent payment amounts related to clinical and regulatory based milestones are discounted back to the current period using a discounted cash flow model. Increases in discount rates and the time to payment may result in lower fair value measurements. Increases or decreases in any of those inputs together, or in isolation, may result in a significantly lower or higher fair value measurement. There is no assurance that any of the conditions for the milestone payments will be met.

The Company reached a regulatory milestone in March 2023 associated with the EC granting approval for Pombiliti™, related to the contingent consideration of Callidus for the ATB200 Pompe disease program. The satisfaction of this milestone resulted in a milestone payment of $9.0 million.

The following table shows the change in the balance of contingent consideration payable for the three and six months ended June 30, 2023 and 2022, respectively:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Balance, beginning of the period	$	12,668	$	19,151	$	21,417	$	20,339
Changes in fair value during the period, included in the Consolidated Statements of Operations	337		115		588		(1,073)
Milestone payment in cash	—		—		(9,000)		—
Balance, end of the period (1)	$	13,005	$	19,266	$	13,005	$	19,266

______________________________

(1) As certain milestones are expected to be reached within the next twelve months, the June 30, 2023 balance was recorded as a current liability in the Company's Consolidated Balance Sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash (Tables)

6 Months Ended

Jun. 30, 2023

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities

Cash, cash equivalents and marketable securities are classified as current unless mentioned otherwise below and consisted of the following:


	As of June 30, 2023
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	211,307	$	—	$	—	$	211,307
Commercial paper	44,022		10		(1)		44,031
U.S. government agency bonds	9,875		12		—		9,887
Money market	350		—		—		350
Certificates of deposit	51		—		—		51
	$	265,605	$	22	$	(1)	$	265,626
Included in cash and cash equivalents	$	211,307	$	—	$	—	$	211,307
Included in marketable securities	54,298		22		(1)		54,319
Total cash, cash equivalents, and marketable securities	$	265,605	$	22	$	(1)	$	265,626


	As of December 31, 2022
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	148,813	$	—	$	—	$	148,813
Commercial paper	144,299		82		—		144,381
Money market	350		—		—		350
Certificate of deposit	51		—		—		51
	$	293,513	$	82	$	—	$	293,595
Included in cash and cash equivalents	$	148,813	$	—	$	—	$	148,813
Included in marketable securities	144,700		82		—		144,782
Total cash, cash equivalents, and marketable securities	$	293,513	$	82	$	—	$	293,595

Schedule of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Company's Consolidated Statements of Cash Flows.


	As of June 30,
(in thousands)	2023		2022
Cash and cash equivalents	$	211,307	$	235,639
Restricted cash	3,026		4,222
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	214,333	$	239,861

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

6 Months Ended

Jun. 30, 2023

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

As of June 30, 2023, the Company held $211.3 million in cash and cash equivalents and $54.3 million of marketable securities which are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are generally reported within other comprehensive gain (loss) in the Company's Consolidated Statements of Comprehensive Loss. If a decline in the fair value of a marketable security below the Company's cost basis is determined to be other-than-temporary or if an available-for-sale debt security’s fair value is determined to be less than the amortized cost and the Company intends or is more than likely to sell the security before recovery and it is not considered a credit loss such security is written down to its estimated fair value as a new cost basis and the amount of the write-down is included in earnings as an impairment charge. If the unrealized loss of an available-for-sale debt security is determined to be a result of credit loss, the Company would recognize an allowance and the corresponding credit loss would be included in earnings.

The Company regularly invests excess operating cash in deposits with major financial institutions and money market funds, as well as fixed income investments which can be readily purchased and sold using established markets. The Company believes that the market risk arising from its holdings of these financial instruments is mitigated as, in accordance with Company policy, securities are of high credit rating. Investments that have original maturities greater than three months but less than one year are classified as current.

Cash, cash equivalents and marketable securities are classified as current unless mentioned otherwise below and consisted of the following:


	As of June 30, 2023
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	211,307	$	—	$	—	$	211,307
Commercial paper	44,022		10		(1)		44,031
U.S. government agency bonds	9,875		12		—		9,887
Money market	350		—		—		350
Certificates of deposit	51		—		—		51
	$	265,605	$	22	$	(1)	$	265,626
Included in cash and cash equivalents	$	211,307	$	—	$	—	$	211,307
Included in marketable securities	54,298		22		(1)		54,319
Total cash, cash equivalents, and marketable securities	$	265,605	$	22	$	(1)	$	265,626


	As of December 31, 2022
(in thousands)	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
Cash and cash equivalents	$	148,813	$	—	$	—	$	148,813
Commercial paper	144,299		82		—		144,381
Money market	350		—		—		350
Certificate of deposit	51		—		—		51
	$	293,513	$	82	$	—	$	293,595
Included in cash and cash equivalents	$	148,813	$	—	$	—	$	148,813
Included in marketable securities	144,700		82		—		144,782
Total cash, cash equivalents, and marketable securities	$	293,513	$	82	$	—	$	293,595

For both the six months ended June 30, 2023 and the fiscal year ended December 31, 2022, there were no realized gains or losses. The cost of securities sold is based on the specific identification method.

Unrealized loss positions in the marketable securities as of June 30, 2023 reflect temporary impairments and are not a result of credit loss. Additionally, as these positions have been in a loss position for less than twelve months and the Company does not intend to sell these securities before recovery, the losses are recognized in other comprehensive gain (loss). The fair value of these marketable securities in unrealized loss positions was $3.0 million as of June 30, 2023. The Company had no securities in an unrealized loss position as of December 31, 2022.


	As of June 30,
(in thousands)	2023		2022
Cash and cash equivalents	$	211,307	$	235,639
Restricted cash	3,026		4,222
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	214,333	$	239,861

Basic and Diluted Net Loss per Common Share (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss attributable to common stockholders	$ (43,232)	$ (62,157)	$ (96,164)	$ (147,417)
Denominator:
Weighted average common shares outstanding - basic (in shares)	292,797,002	291,970,562	292,071,201	288,646,587
Weighted average common shares outstanding - diluted (in shares)	292,797,002	291,970,562	292,071,201	288,646,587
Antidilutive securities
Antidilutive securities excluded from computation of diluted earnings per share (in shares)			33,773,000	29,449,000
Options to purchase common stock
Antidilutive securities
Antidilutive securities excluded from computation of diluted earnings per share (in shares)			23,408,000	19,283,000
Unvested restricted stock units
Antidilutive securities
Antidilutive securities excluded from computation of diluted earnings per share (in shares)			10,365,000	10,166,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Assets and Liabilities Measured at Fair Value - Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	$ 13,005	$ 21,417
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	13,005	$ 21,417
Callidus Biopharma Inc \| Clinical and regulatory milestones \| ATB200 Pompe Program
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration payable	$ 13,005
Callidus Biopharma Inc \| Clinical and regulatory milestones \| Probability of achievement of milestones \| ATB200 Pompe Program \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	88.00%
Callidus Biopharma Inc \| Clinical and regulatory milestones \| Discount rate \| Discount rate \| ATB200 Pompe Program \| Probability weighted discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	11.70%

Intangible Assets	6 Months Ended
Intangible Assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible AssetsAs of June 30, 2023, the Company's intangible assets consisted of lead enzyme replacement therapy assets acquired with the Callidus Biopharma, Inc. acquisition in 2013, previously accounted for as in-process research and development. In March 2023, as a result of the EC's approval of Pombiliti™, the Company began amortizing the assets over the initial regulatory exclusivity period of 7 years. The Company completed an impairment assessment before changing the classification to definite-lived intangible asset noting no impairment. Amortization expense for the three and six months ended June 30, 2023 was $0.8 million and $0.9 million, respectively. Total estimated amortization for the finite-lived intangible assets is estimated to be $2.5 million for the year ended December 31, 2023 and $3.3 million for the next four years thereafter.

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Allowance for doubtful accounts receivable	$ 100		$ 100
Net product sales	94,503	$ 80,731	180,773	$ 159,446
Galafold
Concentration Risk [Line Items]
Net product sales	$ 94,300	$ 80,700	$ 180,400	$ 159,400

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Description of Business	6 Months Ended
Description of Business	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Amicus Therapeutics, Inc. (the "Company") is a global, patient-dedicated biotechnology company focused on discovering, developing, and delivering novel medicines for rare diseases. The Company has developed and commercialized the first oral monotherapy for Fabry disease that has achieved widespread global approval and the first two-component therapy for Pompe disease that has been approved in the European Union (“E.U.”) and the United Kingdom (“U.K.”), and is under regulatory review in the United States (“U.S.”). The Company is committed to discovering and developing next generation therapies in Fabry and Pompe diseases. The cornerstone of the Company's portfolio is Galafold® (also referred to as "migalastat"), the first and only approved oral precision medicine for people living with Fabry disease who have amenable genetic variants. Migalastat is currently approved under the trade name Galafold® in the U.S., E.U., U.K., and Japan, with multiple additional approvals granted and applications pending in several geographies around the world. Pombiliti™ and Opfolda™ (also referred to as AT-GAA, ATB200/AT2221, or cipaglucosidase alfa/miglustat), is a novel, two-component treatment for Pompe disease that was approved by the European Commission ("EC") in June 2023 and the U.K. Medicines and Healthcare products Regulatory Agency ("MHRA") in August 2023. The Company began launch activities for Pombiliti™ and Opfolda™ in Germany and will commence the reimbursement processes with healthcare authorities in other European countries. In October 2022, the U.S. Food and Drug Administration ("FDA") deferred action on the BLA for cipaglucosidase alfa, citing the inability to complete the manufacturing site inspection prior to the PDUFA action date. In the second quarter of 2023, the FDA completed the required pre-approval inspection of the manufacturing site and the review is ongoing. The Company continues to monitor the novel coronavirus (“COVID-19”) pandemic. The Company's commercial operations have not been significantly impacted by the COVID-19 pandemic and the Company continues to see a gradual improvement in patient identification and Galafold® initiation. The Company has been able to continue to meet required commercial demand for Galafold® as well as supply Pombiliti™ and Opfolda™ commercial launch inventory and its ongoing clinical studies and access programs without interruption. In regard to the Company's regulatory operations, the FDA deferred action on the pending BLA for cipaglucosidase alfa, as a site inspection could not be completed by the PDUFA action date due to COVID-19 related travel restrictions in China. In the second quarter of 2023, the FDA completed the required pre-approval inspection of the manufacturing site. Per FDA guidance relating to pre-approval inspections during the COVID-19 pandemic, receipt of a deferral action indicates no deficiencies have been identified and the application otherwise satisfies the requirements for approval. The Company had an accumulated deficit of $2.6 billion as of June 30, 2023 and anticipates incurring losses through the fiscal year ending December 31, 2023. The Company has historically funded its operations through stock offerings, Galafold® revenues, debt issuances, collaborations, and other financing arrangements. Based on its current operating model, the Company believes that the current cash position, which includes expected revenues, is sufficient to fund the Company's operations and ongoing research programs for at least the next 12 months. Potential impacts of the COVID-19 pandemic, business development collaborations, pipeline expansion, and investment in manufacturing capabilities could impact the Company's future capital requirements.

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	ATM	Common Stock	Common Stock ATM	Additional Paid-In Capital	Additional Paid-In Capital ATM	Warrants	Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021			278,912,800
Beginning balance at Dec. 31, 2021	$ 307,369		$ 2,808		$ 2,595,419		$ 83	$ 4,981	$ (2,295,922)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)			334,705
Stock options exercised, net	1,858		$ 3		1,855
Vesting of restricted stock units, net of taxes (in shares)			1,209,162
Vesting of restricted stock units, net of taxes	(9,278)				(9,278)
Stock-based compensation	43,114				43,114
Unrealized gain (loss) on available-for-sale securities	(367)							(367)
Foreign currency translation adjustment	(21,854)							(21,854)
Net loss	(147,417)								(147,417)
Ending balance (in shares) at Jun. 30, 2022			280,456,667
Ending balance at Jun. 30, 2022	173,425		$ 2,811		2,631,110		83	(17,240)	(2,443,339)
Beginning balance (in shares) at Mar. 31, 2022			280,133,856
Beginning balance at Mar. 31, 2022	238,617		$ 2,809		2,617,935		83	(1,028)	(2,381,182)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)			189,256
Stock options exercised, net	999		$ 2		997
Vesting of restricted stock units, net of taxes (in shares)			133,555
Vesting of restricted stock units, net of taxes	(285)				(285)
Stock-based compensation	12,463				12,463
Unrealized gain (loss) on available-for-sale securities	(29)							(29)
Foreign currency translation adjustment	(16,183)							(16,183)
Net loss	(62,157)								(62,157)
Ending balance (in shares) at Jun. 30, 2022			280,456,667
Ending balance at Jun. 30, 2022	$ 173,425		$ 2,811		2,631,110		83	(17,240)	(2,443,339)
Beginning balance (in shares) at Dec. 31, 2022	281,108,273		281,108,273
Beginning balance at Dec. 31, 2022	$ 123,047		$ 2,815		2,664,744		83	(12,105)	(2,532,490)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)	655,000		653,217
Stock options exercised, net	$ 4,405		$ 7		4,398
Vesting of restricted stock units, net of taxes (in shares)			1,768,751
Vesting of restricted stock units, net of taxes	(14,008)				(14,008)
Stock-based compensation	51,471				51,471
Warrants exercised (in shares)			1,220,100
Warrants exercised	12		$ 12		12		(12)
Issuance of shares in connection with at-the-market offering, net of issuance costs (in shares)				2,242,582
Issuance of shares in connection with at-the-market offering, net of issuance costs		$ 26,553		$ 22		$ 26,531
Unrealized gain (loss) on available-for-sale securities	(61)							(61)
Foreign currency translation adjustment	16,326							16,326
Net loss	$ (96,164)								(96,164)
Ending balance (in shares) at Jun. 30, 2023	286,992,923		286,992,923
Ending balance at Jun. 30, 2023	$ 111,581		$ 2,856		2,733,148		71	4,160	(2,628,654)
Beginning balance (in shares) at Mar. 31, 2023			283,300,585
Beginning balance at Mar. 31, 2023	102,573		$ 2,820		2,691,836		83	(6,744)	(2,585,422)
Increase (Decrease) in Stockholders' Equity
Stock options exercised, net (in shares)			269,109
Stock options exercised, net	1,750		$ 4		1,746
Vesting of restricted stock units, net of taxes (in shares)			155,776
Vesting of restricted stock units, net of taxes	(1,202)				(1,202)
Stock-based compensation	16,577				16,577
Warrants exercised (in shares)			1,220,100
Warrants exercised	12		$ 12		12		(12)
Issuance of shares in connection with at-the-market offering, net of issuance costs (in shares)				2,047,353
Issuance of shares in connection with at-the-market offering, net of issuance costs		$ 24,199		$ 20		$ 24,179
Unrealized gain (loss) on available-for-sale securities	24							24
Foreign currency translation adjustment	10,880							10,880
Net loss	$ (43,232)								(43,232)
Ending balance (in shares) at Jun. 30, 2023	286,992,923		286,992,923
Ending balance at Jun. 30, 2023	$ 111,581		$ 2,856		$ 2,733,148		$ 71	$ 4,160	$ (2,628,654)

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (43,232)	$ (62,157)	$ (96,164)	$ (147,417)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock-Based Compensation - Weighted-average Assumptions (Details) - Options to purchase common stock - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	59.20%	61.30%	59.30%	62.20%
Risk free interest rate	3.80%	3.00%	3.90%	1.60%
Expected life of options (years)	5 years 6 months	5 years 3 months 18 days	5 years 6 months	5 years 3 months 18 days
Expected annual dividend per share (in dollars per share)	$ 0	$ 0	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories for the Period

Inventories as of June 30, 2023 and December 31, 2022 consisted of the following:


(in thousands)	June 30, 2023		December 31, 2022
Raw materials	$	36,379	$	10,054
Work-in-process	7,327		9,615
Finished goods	7,675		4,147
Total inventories	$	51,381	$	23,816

Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories as of June 30, 2023 and December 31, 2022 consisted of the following:


(in thousands)	June 30, 2023		December 31, 2022
Raw materials	$	36,379	$	10,054
Work-in-process	7,327		9,615
Finished goods	7,675		4,147
Total inventories	$	51,381	$	23,816

The Company's reserve for inventory was $1.0 million and $0.4 million as of June 30, 2023 and December 31, 2022, respectively.

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Net product sales	$ 94,503	$ 80,731	$ 180,773	$ 159,446
Cost of goods sold	9,114	8,197	16,056	15,779
Gross profit	85,389	72,534	164,717	143,667
Operating expenses:
Research and development	35,149	78,319	76,648	159,836
Selling, general, and administrative	65,423	53,379	139,380	111,495
Changes in fair value of contingent consideration payable	337	115	588	(1,073)
Loss on impairment of assets	1,134	0	1,134	6,616
Depreciation and amortization	2,206	1,334	3,463	2,745
Total operating expenses	104,249	133,147	221,213	279,619
Loss from operations	(18,860)	(60,613)	(56,496)	(135,952)
Other (expense) income:
Interest income	1,737	356	3,936	489
Interest expense	(12,492)	(8,257)	(24,336)	(16,404)
Other (expense) income	(10,902)	7,268	(16,840)	9,170
Loss before income tax	(40,517)	(61,246)	(93,736)	(142,697)
Income tax expense	(2,715)	(911)	(2,428)	(4,720)
Net loss attributable to common stockholders	$ (43,232)	$ (62,157)	$ (96,164)	$ (147,417)
Net loss attributable to common stockholders per common share - basic (in dollars per share)	$ (0.15)	$ (0.21)	$ (0.33)	$ (0.51)
Net loss attributable to common stockholders per common share — diluted (in dollars per share)	$ (0.15)	$ (0.21)	$ (0.33)	$ (0.51)
Weighted average common shares outstanding - basic (in shares)	292,797,002	291,970,562	292,071,201	288,646,587
Weighted average common shares outstanding - diluted (in shares)	292,797,002	291,970,562	292,071,201	288,646,587

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2023
Number of Shares
Balance at the beginning of the period (in shares)	19,064
Options, granted (in shares)	5,194
Options, exercised (in shares)	(655)
Options, forfeited (in shares)	(160)
Options, expired (in shares)	(35)
Balance at the end of the period (in shares)	23,408
Vested and unvested expected to vest as of the end of the period (in shares)	21,510
Exercisable at the end of the period (in shares)	13,061
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 11.31
Options, granted (in dollars per share)	11.97
Options, exercised (in dollars per share)	6.73
Options, forfeited (in dollars per share)	11.36
Options, expired (in dollars per share)	13.99
Balance at the end of the period (in dollars per share)	11.58
Vested and unvested expected to vest as of the end of the period (in dollars per share)	11.52
Exercisable at the end of the period (in dollars per share)	$ 11.02
Additional Disclosures
Balance at the end of the period	6 years 10 months 24 days
Vested and unvested expected to vest at the end of the period	6 years 8 months 12 days
Exercisable at the end of the period	5 years 3 months 18 days
Aggregate intrinsic value, options outstanding	$ 41.1
Aggregate intrinsic value, vested and unvested expected to vest	39.3
Aggregate intrinsic value of options exercisable	$ 32.5

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Liability Components of Long-Term Debt

The Company's debt consists of the following:


(in thousands)	June 30, 2023		December 31, 2022
Senior Secured Term Loan due 2026:
Principal	$	400,000	$	400,000
Less: debt discount (1)	(3,795)		(4,571)
Less: deferred financing (1)	(2,855)		(3,439)
Net carrying value of Long-term debt	$	393,350	$	391,990

______________________________

(1) Included in the Company's Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the Senior Secured Term Loan using the effective interest rate method.

Schedule of Components of Total Interest Expense

The following table sets forth interest expense recognized related to the Company's debt for the three and six months ended June 30, 2023 and 2022, respectively:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Contractual interest expense	$	11,789	$	7,589	$	23,019	$	15,089
Amortization of debt discount	$	395	$	375	$	776	$	739
Amortization of deferred financing	$	297	$	283	$	583	$	556

Assets and Liabilities Measured at Fair Value - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Milestone payment in cash	$ 9,000	$ 0	$ 0	$ 9,000	$ 0

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Disclosure [Abstract]
Contractual interest expense	$ 11,789	$ 7,589	$ 23,019	$ 15,089
Amortization of debt discount	395	375	776	739
Amortization of deferred financing	$ 297	$ 283	$ 583	$ 556

Stockholders' Equity - Common Stock and Warrants (Details) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Offering price per share (in dollars per share) \| $ / shares		$ 12.25
ATM
Subsidiary, Sale of Stock [Line Items]
Number of shares issued, private placement (in shares) \| shares	2,047,353	2,242,582
Offering price per share (in dollars per share) \| $ / shares	$ 12.21
Aggregate net proceeds from stock offering \| $	$ 24.2	$ 26.6
Common stock, capital share reserved for future issuance \| shares	222,500,000	222,500,000

Summary of Significant Accounting Policies - Revenue by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net product sales	$ 94,503	$ 80,731	$ 180,773	$ 159,446
U.S.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net product sales	37,128	27,540	65,959	51,718
Ex-U.S.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net product sales	$ 57,375	$ 53,191	$ 114,814	$ 107,728

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

Basic and Diluted Net Loss per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator Used in Computing Basic and Diluted Net Loss per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss attributable to common stockholders per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2023		2022		2023		2022
Numerator:
Net loss attributable to common stockholders	$	(43,232)	$	(62,157)	$	(96,164)	$	(147,417)
Denominator:
Weighted average common shares outstanding — basic and diluted	292,797,002		291,970,562		292,071,201		288,646,587

Schedule of Potential Shares of Common Stock that were Excluded from the Computation as they were Anti-Dilutive Using the Treasury Stock Method

The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method:


	As of June 30,
(in thousands)	2023	2022
Options to purchase common stock	23,408	19,283
Unvested restricted stock units	10,365	10,166
Total number of potentially issuable shares	33,773	29,449

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Cash, Cash Equivalents, And Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Cash, Cash Equivalents, and Short-Term Investments [Abstract]
Cash and cash equivalents	$ 211,307	$ 148,813	$ 235,639
Restricted cash	3,026		4,222
Cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$ 214,333	$ 153,115	$ 239,861	$ 249,456

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 211,307	$ 148,813
Investments in marketable securities	54,319	144,782
Accounts receivable	63,716	66,196
Inventories	51,381	23,816
Prepaid expenses and other current assets	52,099	40,209
Total current assets	432,822	423,816
Operating lease right-of-use assets, net	28,042	29,534
Property and equipment, less accumulated depreciation of $24,060 and $22,281 at June 30, 2023 and December 31, 2022, respectively	30,238	30,778
Intangible assets, less accumulated amortization of $855 and $0 at June 30, 2023 and December 31, 2022, respectively	22,145	23,000
Goodwill	197,797	197,797
Other non-current assets	19,049	19,242
Total Assets	730,093	724,167
Current liabilities:
Accounts payable	13,522	15,413
Accrued expenses and other current liabilities	124,868	93,636
Contingent consideration payable	13,005	21,417
Operating lease liabilities	7,840	8,552
Total current liabilities	159,235	139,018
Long-term debt	393,350	391,990
Operating lease liabilities	50,976	51,578
Deferred reimbursements	5,906	4,656
Deferred income taxes	0	4,939
Other non-current liabilities	9,045	8,939
Total liabilities	618,512	601,120
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 286,992,923 and 281,108,273 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	2,856	2,815
Additional paid-in capital	2,733,148	2,664,744
Accumulated other comprehensive gain (loss):
Foreign currency translation adjustment	4,337	(11,989)
Unrealized loss on available-for-sale securities	(177)	(116)
Warrants	71	83
Accumulated deficit	(2,628,654)	(2,532,490)
Total stockholders’ equity	111,581	123,047
Total Liabilities and Stockholders’ Equity	$ 730,093	$ 724,167

Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

The Company's debt consists of the following:


(in thousands)	June 30, 2023		December 31, 2022
Senior Secured Term Loan due 2026:
Principal	$	400,000	$	400,000
Less: debt discount (1)	(3,795)		(4,571)
Less: deferred financing (1)	(2,855)		(3,439)
Net carrying value of Long-term debt	$	393,350	$	391,990

______________________________

Interest Expense

The following table sets forth interest expense recognized related to the Company's debt for the three and six months ended June 30, 2023 and 2022, respectively:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Contractual interest expense	$	11,789	$	7,589	$	23,019	$	15,089
Amortization of debt discount	$	395	$	375	$	776	$	739
Amortization of deferred financing	$	297	$	283	$	583	$	556

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Basic and Diluted Net Loss per Common Share - Narrative (Details)	Jun. 30, 2023 $ / shares
Private Placement
Antidilutive securities
Warrants exercise price (in dollars per share)	$ 0.01

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying unaudited Consolidated Financial Statements in accordance with the U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Consolidated Financial Statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's interim financial information. The accompanying unaudited Consolidated Financial Statements and related notes should be read in conjunction with the Company's financial statements and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. For a complete description of the Company's accounting policies, please refer to the Annual Report on Form 10-K for the fiscal year ended December 31, 2022.
Consolidation	Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.
Foreign Currency Transactions	Foreign Currency Transactions The functional currency for most of the Company's foreign subsidiaries is their local currency. For non-U.S. subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign exchange rates for the period. Adjustments resulting from the translation of the financial statements of the Company's foreign operations into U.S. dollars are excluded from the determination of net income and are recorded in accumulated other comprehensive income, a separate component of stockholders' equity.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Additionally, the Company assessed the impact the COVID-19 pandemic had on its operations and financial results as of June 30, 2023 and through the issuance of these financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses.
Cash, Cash Equivalents, Marketable Securities and Restricted Cash	Cash, Cash Equivalents, Marketable Securities, and Restricted Cash The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Marketable securities consist of fixed income investments with a maturity of greater than three months and other highly liquid investments that can be readily purchased or sold using established markets. These investments are classified as available-for-sale and are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs. Restricted cash consists primarily of funds held to satisfy the requirements of certain agreements that are restricted in their use and is included in other non-current assets on the Company's Consolidated Balance Sheets.
Concentration of Credit Risk	Concentration of Credit Risk The Company's financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company maintains its cash and cash equivalents in bank accounts, which, at times, exceed federally insured limits. The Company invests its marketable securities in high-quality commercial financial instruments. The Company has not recognized any losses from credit risks on such accounts during any of the periods presented. The Company believes it is not exposed to significant credit risk on its cash, cash equivalents, or marketable securities. The Company is subject to credit risk from its accounts receivable primarily related to its product sales of Galafold®. The Company's accounts receivable at June 30, 2023 have arisen from product sales primarily in Europe, the U.S., and Japan. The Company will periodically assess the financial strength of its customers to establish allowances for anticipated losses, if any. For accounts receivable that have arisen from named patient sales, the payment terms are predetermined, and the Company evaluates the creditworthiness of each customer on a regular basis.
Revenue Recognition	Revenue Recognition The Company's net product sales consist primarily of sales of Galafold® for the treatment of Fabry disease. Galafold® sales for the three and six months ended June 30, 2023 were $94.3 million and $180.4 million, respectively, and $80.7 million and $159.4 million for the three and six months ended June 30, 2022, respectively. The Company has recorded revenue on sales where Galafold® is available either on a commercial basis or through a reimbursed early access program. Orders for Galafold® are generally received from distributors and pharmacies, with the ultimate payor often a government authority. The Company recognizes revenue when its performance obligations to its customers have been satisfied, which occurs at a point in time when the pharmacies or distributors obtain control of Galafold®. The transaction price is determined based on fixed consideration in the Company's customer contracts and is recorded net of estimates for variable consideration, which are third party discounts and rebates. The identified variable consideration is recorded as a reduction of revenue at the time revenue from the sale of Galafold® is recognized. The Company recognizes revenue to the extent that it is probable that a significant revenue reversal will not occur in a future period. These estimates may differ from actual consideration received. The Company evaluates these estimates each reporting period to reflect known changes.
Inventories and Cost of Goods Sold	Inventories and Cost of Goods Sold Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method. Inventories are reviewed periodically to identify slow-moving or obsolete inventory based on projected sales activity as well as product shelf-life. In evaluating the recoverability of inventories produced, the probability that revenue will be obtained from the future sale of the related inventory is considered and inventory value is written down for inventory quantities in excess of expected requirements. Expired inventory is disposed of and the related costs are recognized as cost of goods sold in the Company's Consolidated Statements of Operations. Cost of goods sold includes the cost of inventory sold, manufacturing and supply chain costs, product shipping and handling costs, provisions for excess and obsolete inventory, as well as royalties payable.
Intangible Assets and Goodwill	Intangible Assets and Goodwill The Company records goodwill in a business combination when the total consideration exceeds the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is assessed annually for impairment on October 1 and whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. The Company first assesses the qualitative factors to determine if a quantitative test is necessary. If required, or if the Company elects to bypass the qualitative assessment, a quantitative goodwill impairment test is conducted. If it is determined the Company's single reporting unit's carrying value, including goodwill, exceeds its fair value, an impairment loss is recorded for the difference. Finite-lived intangible assets are recorded at cost, net of accumulated amortization, and, if applicable, impairment charges. Amortization of finite-lived intangible assets is recorded over the assets’ estimated useful lives on a straight-line basis or based on the pattern in which economic benefits are consumed, if reliably determinable. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is determined, the Company writes down the asset to its estimated fair value and records an impairment loss equal to the excess of the carrying value of the asset over its estimated fair value in the period at which such a determination is made. No indicators of impairment were noted during the six months ended June 30, 2023.
Recent Accounting Developments	Recent Accounting Developments The Company has evaluated recent accounting pronouncements and believes that none of them will have a material effect on the Company's Consolidated Financial Statements or related disclosures.

Assets and Liabilities Measured at Fair Value - Summary of Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Fair value of assets	$ 61,051	$ 150,189
Liabilities:
Contingent consideration payable	13,005	21,417
Deferred compensation plan liability	6,783	5,458
Fair value of liabilities	19,788	26,875
Commercial paper
Assets:
Fair value of assets	44,031	144,381
U.S. government agency bonds
Assets:
Fair value of assets	9,887
Money market
Assets:
Fair value of assets	7,133	5,808
Level 2
Assets:
Fair value of assets	61,051	150,189
Liabilities:
Contingent consideration payable	0	0
Deferred compensation plan liability	6,783	5,458
Fair value of liabilities	6,783	5,458
Level 2 \| Commercial paper
Assets:
Fair value of assets	44,031
Level 2 \| U.S. government agency bonds
Assets:
Fair value of assets	9,887
Level 2 \| Money market
Assets:
Fair value of assets	7,133	5,808
Level 3
Liabilities:
Contingent consideration payable	13,005	21,417
Deferred compensation plan liability	0	0
Fair value of liabilities	$ 13,005	$ 21,417

Description of Business (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 2,628,654	$ 2,532,490

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Stock-Based Compensation - RSUs and PBRSUs Summary (Details) - Unvested restricted stock units $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Number of Shares
Non-vested units as of the beginning of the period (in shares) \| shares	9,717
Granted (in shares) \| shares	3,967
Vested (in shares) \| shares	(2,752)
Forfeited (in shares) \| shares	(567)
Non-vested units as of the end of the period (in shares) \| shares	10,365
Weighted Average Grant Date Fair Value
Non-vested units as of the beginning of the period (in dollars per share) \| $ / shares	$ 13.07
Granted (in dollars per share) \| $ / shares	13.06
Vested (in dollars per share) \| $ / shares	12.12
Forfeited (in dollars per share) \| $ / shares	9.86
Non-vested units as of the end of the period (in dollars per share) \| $ / shares	$ 13.53
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Non-vested units, weighted average remaining years	2 years 3 months 18 days
Non-vested units, aggregate intrinsic value \| $	$ 130.2

Stock-Based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

The Company's Amended and Restated 2007 Equity Incentive Plan (the "Plan") provides for the granting of restricted stock units and options to purchase common stock in the Company to employees, directors, advisors, and consultants at a price to be determined by the Company's Board of Directors. The Plan is intended to encourage ownership of stock by employees and consultants of the Company and to provide additional incentives for them to promote the success of the Company's business. The Board of Directors, or its committee, is responsible for determining the individuals to be granted options, the number of options each individual will receive, the option price per share, and the exercise period of each option.

Stock Option Grants

The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Expected stock price volatility	59.2		%	61.3		%	59.3		%	62.2		%
Risk free interest rate	3.8		%	3.0		%	3.9		%	1.6		%
Expected life of options (years)	5.5			5.3			5.5			5.3
Expected annual dividend per share	$	—		$	—		$	—		$	—

A summary of the Company's stock options for the six months ended June 30, 2023 were as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Options outstanding, December 31, 2022	19,064	$	11.31
Granted	5,194	$	11.97
Exercised	(655)	$	6.73
Forfeited	(160)	$	11.36
Expired	(35)	$	13.99
Options outstanding, June 30, 2023	23,408	$	11.58	6.9	$	41.1
Vested and unvested expected to vest, June 30, 2023	21,510	$	11.52	6.7	$	39.3
Exercisable at June 30, 2023	13,061	$	11.02	5.3	$	32.5

As of June 30, 2023, the total unrecognized compensation cost related to non-vested stock options granted was $43.4 million and is expected to be recognized over a weighted average period of three years.

Restricted Stock Units and Performance-Based Restricted Stock Units (collectively "RSUs")

RSUs awarded under the Plan are generally subject to graded vesting and are contingent on an employee's continued service. RSUs are generally subject to forfeiture if employment terminates prior to the release of vesting restrictions. The Company expenses the cost of the RSUs, which is determined to be the fair market value of the shares of common stock underlying the RSUs at the date of grant, ratably over the period during which the vesting restrictions lapse. A summary of non-vested RSU activity under the Plan for the six months ended June 30, 2023 is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Non-vested units as of December 31, 2022	9,717	$	13.07
Granted	3,967	$	13.06
Vested	(2,752)	$	12.12
Forfeited	(567)	$	9.86
Non-vested units as of June 30, 2023	10,365	$	13.53	2.3	$	130.2

As of June 30, 2023, there was $68.5 million of total unrecognized compensation cost related to unvested RSUs with service-based vesting conditions. These costs are expected to be recognized over a weighted average period of two years.

Compensation Expense Related to Equity Awards

The following table summarizes information related to compensation expense recognized in the Company's Consolidated Statements of Operations related to the equity awards:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Research and development expense	$	4,117	$	4,379	$	12,607	$	13,744
Selling, general, and administrative expense	12,460		8,084		38,864		29,370
Total equity compensation expense	$	16,577	$	12,463	$	51,471	$	43,114

Stock-Based Compensation - Expense Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 16,577	$ 12,463	$ 51,471	$ 43,114
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	4,117	4,379	12,607	13,744
Selling, general, and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity compensation expense	$ 12,460	$ 8,084	$ 38,864	$ 29,370

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Inventories - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Reserve for inventory	$ 1.0	$ 0.4

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The Company has prepared the accompanying unaudited Consolidated Financial Statements in accordance with the U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Consolidated Financial Statements reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company's interim financial information.

The accompanying unaudited Consolidated Financial Statements and related notes should be read in conjunction with the Company's financial statements and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. For a complete description of the Company's accounting policies, please refer to the Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.

Foreign Currency Transactions

The functional currency for most of the Company's foreign subsidiaries is their local currency. For non-U.S. subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated at current rates of exchange at the balance sheet date. Income and expense items are translated at the average foreign exchange rates for the period. Adjustments resulting from the translation of the financial statements of the Company's foreign operations into U.S. dollars are excluded from the determination of net income and are recorded in accumulated other comprehensive income, a separate component of stockholders' equity.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Additionally, the Company assessed the impact the COVID-19 pandemic had on its operations and financial results as of June 30, 2023 and through the issuance of these financial statements. The Company’s analysis was informed by the facts and circumstances as they were known to the Company. This assessment considered the impact COVID-19 may have on financial estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses.

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash

The Company considers all highly liquid investments purchased with a maturity of three months or less at the date of acquisition to be cash equivalents. Marketable securities consist of fixed income investments with a maturity of greater than three months and other highly liquid investments that can be readily purchased or sold using established markets. These investments are classified as available-for-sale and are reported at fair value on the Company's Consolidated Balance Sheets. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs.

Restricted cash consists primarily of funds held to satisfy the requirements of certain agreements that are restricted in their use and is included in other non-current assets on the Company's Consolidated Balance Sheets.

Concentration of Credit Risk

The Company's financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company maintains its cash and cash equivalents in bank accounts, which, at times, exceed federally insured limits. The Company invests its marketable securities in high-quality commercial financial instruments. The Company has not recognized any losses from credit risks on such accounts during any of the periods presented. The Company believes it is not exposed to significant credit risk on its cash, cash equivalents, or marketable securities.

The Company is subject to credit risk from its accounts receivable primarily related to its product sales of Galafold®. The Company's accounts receivable at June 30, 2023 have arisen from product sales primarily in Europe, the U.S., and Japan. The Company will periodically assess the financial strength of its customers to establish allowances for anticipated losses, if any. For accounts receivable that have arisen from named patient sales, the payment terms are predetermined, and the Company evaluates the creditworthiness of each customer on a regular basis. As of June 30, 2023, the Company's allowance for doubtful accounts was $0.1 million.

Revenue Recognition

The Company's net product sales consist primarily of sales of Galafold® for the treatment of Fabry disease. Galafold® sales for the three and six months ended June 30, 2023 were $94.3 million and $180.4 million, respectively, and $80.7 million and $159.4 million for the three and six months ended June 30, 2022, respectively. The Company has recorded revenue on sales where Galafold® is available either on a commercial basis or through a reimbursed early access program. Orders for Galafold® are generally received from distributors and pharmacies, with the ultimate payor often a government authority.

The Company recognizes revenue when its performance obligations to its customers have been satisfied, which occurs at a point in time when the pharmacies or distributors obtain control of Galafold®. The transaction price is determined based on fixed consideration in the Company's customer contracts and is recorded net of estimates for variable consideration, which are third party discounts and rebates. The identified variable consideration is recorded as a reduction of revenue at the time revenue from the sale of Galafold® is recognized. The Company recognizes revenue to the extent that it is probable that a significant revenue reversal will not occur in a future period. These estimates may differ from actual consideration received. The Company evaluates these estimates each reporting period to reflect known changes.

The following table summarizes the Company's net product sales disaggregated by geographic area:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
U.S.	$	37,128	$	27,540	$	65,959	$	51,718
Ex-U.S.	57,375		53,191		114,814		107,728
Total net product sales	$	94,503	$	80,731	$	180,773	$	159,446

Inventories and Cost of Goods Sold

Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method. Inventories are reviewed periodically to identify slow-moving or obsolete inventory based on projected sales activity as well as product shelf-life. In evaluating the recoverability of inventories produced, the probability that revenue will be obtained from the future sale of the related inventory is considered and inventory value is written down for inventory quantities in excess of expected requirements. Expired inventory is disposed of and the related costs are recognized as cost of goods sold in the Company's Consolidated Statements of Operations.

Cost of goods sold includes the cost of inventory sold, manufacturing and supply chain costs, product shipping and handling costs, provisions for excess and obsolete inventory, as well as royalties payable.

Intangible Assets and Goodwill

The Company records goodwill in a business combination when the total consideration exceeds the fair value of the net tangible and identifiable intangible assets acquired. Goodwill is assessed annually for impairment on October 1 and whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. The Company first assesses the qualitative factors to determine if a quantitative test is necessary. If required, or if the Company elects to bypass the qualitative assessment, a quantitative goodwill impairment test is conducted. If it is determined the Company's single reporting unit's carrying value, including goodwill, exceeds its fair value, an impairment loss is recorded for the difference.

Finite-lived intangible assets are recorded at cost, net of accumulated amortization, and, if applicable, impairment charges. Amortization of finite-lived intangible assets is recorded over the assets’ estimated useful lives on a straight-line basis or based on the pattern in which economic benefits are consumed, if reliably determinable. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is determined, the Company writes down the asset to its estimated fair value and records an impairment loss equal to the excess of the carrying value of the asset over its estimated fair value in the period at which such a determination is made.

No indicators of impairment were noted during the six months ended June 30, 2023.

Recent Accounting Developments

The Company has evaluated recent accounting pronouncements and believes that none of them will have a material effect on the Company's Consolidated Financial Statements or related disclosures.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Revenue Disaggregated by Geographical Area

The following table summarizes the Company's net product sales disaggregated by geographic area:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
U.S.	$	37,128	$	27,540	$	65,959	$	51,718
Ex-U.S.	57,375		53,191		114,814		107,728
Total net product sales	$	94,503	$	80,731	$	180,773	$	159,446

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 36,379	$ 10,054
Work-in-process	7,327	9,615
Finished goods	7,675	4,147
Total inventories	$ 51,381	$ 23,816

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Daphne Quimi [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 17, 2023, Daphne Quimi, the Company's Chief Financial Officer, entered into a Rule 10b5-1 trading plan. Ms. Quimi's trading plan provides for the potential sale of up to 26,232 shares of the Company's common stock, between August 16, 2023 and December 29, 2023. This trading plan was entered into during an open insider trading window and is intended to satisfy the affirmative defense of Rule 105b-1(c) under the Exchange Act and the Company's policies regarding transactions in the Company's securities.
Name	Daphne Quimi
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 17, 2023
Arrangement Duration	135 days
Aggregate Available	26,232	26,232

Assets and Liabilities Measured at Fair Value (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Subject to Fair Value Measurements


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	44,031	$	44,031
U.S. government agency bonds	9,887		9,887
Money market	7,133		7,133
	$	61,051	$	61,051


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	13,005	$	13,005
Deferred compensation plan liability	6,783		—		6,783
	$	6,783	$	13,005	$	19,788


(in thousands)	Level 2		Total
Assets:
Commercial paper	$	144,381	$	144,381
Money market	5,808		5,808
	$	150,189	$	150,189


(in thousands)	Level 2		Level 3		Total
Liabilities:
Contingent consideration payable	$	—	$	21,417	$	21,417
Deferred compensation plan liability	5,458		—		5,458
	$	5,458	$	21,417	$	26,875

Schedule of Significant Unobservable Inputs Used in the Valuation of the Contingent Consideration Payable

The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:

Contingent Consideration

Liability

Fair Value as of June 30, 2023

Valuation Technique

Unobservable Input

Range

(in thousands)

Discount rate

11.7%

Clinical and regulatory milestones

13,005

Probability weighted discounted cash flow

Probability of achievement of milestones

88%

Projected year of payments

2023

Schedule of Changes in Continent Consideration Payable

The following table shows the change in the balance of contingent consideration payable for the three and six months ended June 30, 2023 and 2022, respectively:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Balance, beginning of the period	$	12,668	$	19,151	$	21,417	$	20,339
Changes in fair value during the period, included in the Consolidated Statements of Operations	337		115		588		(1,073)
Milestone payment in cash	—		—		(9,000)		—
Balance, end of the period (1)	$	13,005	$	19,266	$	13,005	$	19,266

______________________________

(1) As certain milestones are expected to be reached within the next twelve months, the June 30, 2023 balance was recorded as a current liability in the Company's Consolidated Balance Sheets.

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (43,232)	$ (62,157)	$ (96,164)	$ (147,417)
Other comprehensive gain (loss):
Foreign currency translation adjustment gain (loss)	10,880	(16,183)	16,326	(21,854)
Unrealized gain (loss) on available-for-sale securities	24	(29)	(61)	(367)
Other comprehensive gain (loss)	10,904	(16,212)	16,265	(22,221)
Comprehensive loss	$ (32,328)	$ (78,369)	$ (79,899)	$ (169,638)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value of Options

The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Expected stock price volatility	59.2		%	61.3		%	59.3		%	62.2		%
Risk free interest rate	3.8		%	3.0		%	3.9		%	1.6		%
Expected life of options (years)	5.5			5.3			5.5			5.3
Expected annual dividend per share	$	—		$	—		$	—		$	—

Schedule of Stock Options Activity

A summary of the Company's stock options for the six months ended June 30, 2023 were as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Options outstanding, December 31, 2022	19,064	$	11.31
Granted	5,194	$	11.97
Exercised	(655)	$	6.73
Forfeited	(160)	$	11.36
Expired	(35)	$	13.99
Options outstanding, June 30, 2023	23,408	$	11.58	6.9	$	41.1
Vested and unvested expected to vest, June 30, 2023	21,510	$	11.52	6.7	$	39.3
Exercisable at June 30, 2023	13,061	$	11.02	5.3	$	32.5

Schedule of Non-Vested RSU Activity under the Plan

A summary of non-vested RSU activity under the Plan for the six months ended June 30, 2023 is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Years	Aggregate Intrinsic Value
	(in thousands)				(in millions)
Non-vested units as of December 31, 2022	9,717	$	13.07
Granted	3,967	$	13.06
Vested	(2,752)	$	12.12
Forfeited	(567)	$	9.86
Non-vested units as of June 30, 2023	10,365	$	13.53	2.3	$	130.2

Schedule of Equity Compensation Expenses

The following table summarizes information related to compensation expense recognized in the Company's Consolidated Statements of Operations related to the equity awards:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Research and development expense	$	4,117	$	4,379	$	12,607	$	13,744
Selling, general, and administrative expense	12,460		8,084		38,864		29,370
Total equity compensation expense	$	16,577	$	12,463	$	51,471	$	43,114

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-33497
Entity Registrant Name	Amicus Therapeutics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0869350
Entity Address, Address Line One	3675 Market Street,
Entity Address, City or Town	Philadelphia,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19104
City Area Code	(215)
Local Phone Number	921-7600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FOLD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		287,120,937
Entity Central Index Key	0001178879
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accumulated depreciation of property and equipment	$ 24,060	$ 22,281
Accumulated amortization of intangible assets	$ 855	$ 0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	286,992,923	281,108,273
Common stock, shares outstanding (in shares)	286,992,923	281,108,273

Cash, Cash Equivalents, Marketable Securities, and Restricted Cash - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Cash, Money Market Funds, and Marketable Securities
Cash and cash equivalents	$ 211,307	$ 148,813	$ 235,639
Fair value, cash balances	211,307	148,813
Cost, available-for-sale securities	54,298	144,700
Gross unrealized gain, available-for-sale securities	22	82
Gross unrealized loss, available-for-sale securities	(1)	0
Fair value, available-for-sale debt securities	54,319	144,782
Cost, cash balances and available-for-sale securities	265,605	293,513
Gross unrealized gain, cash balances and available-for-sale securities	22	82
Gross unrealized loss, cash balances and available-for-sale securities	(1)	0
Fair value, cash balances and available-for-sale securities	265,626	293,595
Commercial paper
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	44,022	144,299
Gross unrealized gain, available-for-sale securities	10	82
Gross unrealized loss, available-for-sale securities	(1)	0
Fair value, available-for-sale debt securities	44,031	144,381
U.S. government agency bonds
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	9,875
Gross unrealized gain, available-for-sale securities	12
Fair value, available-for-sale debt securities	9,887
Gross unrealized loss, cash balances and available-for-sale securities	0
Money market
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	350	350
Gross unrealized gain, available-for-sale securities	0	0
Fair value, available-for-sale debt securities	350	350
Gross unrealized loss, cash balances and available-for-sale securities	0	0
Certificates of deposit
Cash, Money Market Funds, and Marketable Securities
Cost, available-for-sale securities	51	51
Gross unrealized gain, available-for-sale securities	0	0
Fair value, available-for-sale debt securities	51	51
Gross unrealized loss, cash balances and available-for-sale securities	$ 0	$ 0

Assets and Liabilities Measured at Fair Value - Level 3 Roll Forward (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of the period		$ 12,668	$ 19,151	$ 21,417	$ 20,339
Changes in fair value during the period, included in the Consolidated Statements of Operations		(337)	(115)	(588)	1,073
Milestone payment in cash	$ 9,000	0	0	9,000	0
Balance, end of the period	$ 12,668	$ 13,005	$ 19,266	$ 13,005	$ 19,266

Basic and Diluted Net Loss per Common Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Basic and Diluted Net Loss per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss attributable to common stockholders per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2023		2022		2023		2022
Numerator:
Net loss attributable to common stockholders	$	(43,232)	$	(62,157)	$	(96,164)	$	(147,417)
Denominator:
Weighted average common shares outstanding — basic and diluted	292,797,002		291,970,562		292,071,201		288,646,587

Dilutive common stock equivalents would include the dilutive effect of outstanding common stock options and unvested RSUs. Potentially dilutive common stock equivalents were excluded from the diluted earnings per share denominator for all periods because of their anti-dilutive effect. Weighted average common shares outstanding includes outstanding pre-funded warrants with an exercise price of $0.01.

The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method:


	As of June 30,
(in thousands)	2023	2022
Options to purchase common stock	23,408	19,283
Unvested restricted stock units	10,365	10,166
Total number of potentially issuable shares	33,773	29,449