Amryt says AP101 and AP 102 clinical trials running on schedule

Amryt Pharma said revenue growth exceeded management's expectations during the first half of the year amid consistent progress across the company's key commercial and development assets.

The AIM-listed company unveiled total revenues of €6.2m for the six months ended 30 June 2017, thanks mainly to an in-licensing agreement for its Lojuxta treatment.

Sales of Lojuxta, a medication for a rare, life-threatening disorder which results in unusually high levels of bad cholesterol (HoFH) ran at £5.75m, and the company's board revised upwards its estimate of the addressable market in its territories to roughly €100m.

In parallel, its lead development asset, AP 101, started its phase III clinical trials for Epidermolysis Bullosa, a rare genetic skin condition, with an interim analysis readout expected in the first half of 2018.

AP 102, a potential treatment for rate neurondocrine diseases, remained on track to commence clinical trials in humans in 2018.

Pre-clinical studies for AP 102 were expected to complete in the last quarter of 2017.

Operating losses at period-end stood at €5.79m with losses before tax reaching -€13.8m on the back of a €7.7m non-cash charge.

Cash on hand at period end stood at €10.9m with the first €10m tranche of a five-year year debt facility with the European Investment Bank having been drawn down on 3 April.