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Amicus Therapeutics Announces Third Quarter 2008 Financial Results
Date:11/3/2008

effort, Amicus continues to conduct preclinical studies in Parkinson's disease and is investing in new research aimed at evaluating disease targets for other neurodegenerative and genetic disorders. In September 2008, the Company entered into a lease for laboratory space for a small scale research facility in San Diego, Calif. This facility will complement Amicus' core research and development activities in New Jersey, while allowing closer access to the significant scientific and biotechnology resources in the San Diego community.

Shire Collaboration:

In November 2007, Amicus entered into a strategic collaboration with Shire Human Genetic Therapies, Inc., a wholly-owned subsidiary of Shire plc, to jointly develop Amicus' three lead pharmacological chaperone compounds for lysosomal storage disorders, Amigal, Plicera and AT2220. In this collaboration, valued at up to $440 million including an up front payment and success based clinical and sales milestones and excluding royalties and cost sharing, Shire reimburses world-wide development costs on a 50/50 basis, and in return Shire received rights to commercialize these products outside of the U.S. while Amicus retains all rights to commercialize these products in the U.S. In addition, Amicus leads development operations through the end of Phase 2 clinical trials. The companies then share responsibility for Phase 3 clinical trial development leveraging Shire's significant ex-U.S. regulatory and clinical experience as well as its commercial infrastructure.

Additional Financial Results & Notes

On a reported basis, the net loss attributable to common stockholders for the three months ended September 30, 2008, was $8.2 million as compared to $10.3 million for the same period in 2007. On a non-GAAP basis, the net loss for the three months ended September 30, 2008, was $6.6 million as compared to $9.2 million in the same period in 2007.

Amicus recorded revenue during the third quarter of 20
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SOURCE Amicus Therapeutics
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