Amicus today reiterated its most recent guidance for 2008 cash burn of $40 million to $50 million. The Company also reiterated that it does not expect to raise cash from any equity financings in 2008.
The differences between U.S. GAAP and non U.S. GAAP financial results are itemized in Tables 2 and 3, and are primarily due to pre-tax stock compensation expense
Use of Non-GAAP Financial Measures
Amicus' "non-GAAP net loss" and "non-GAAP diluted net loss per common
share" financial measures are defined as reported, or GAAP, net loss and
diluted net loss per common share excluding certain items further discussed
below. Amicus' management uses these non-GAAP financial measures to
establish financial goals and to gain an understanding of the comparative
financial performance of Amicus from year to year and quarter to quarter.
Accordingly, Amicus believes investors' understanding of Amicus' financial
performance is enhanced as a result of disclosing these non-GAAP financial
measures. Non-GAAP net loss and diluted net loss per common share should
not be viewed in isolation or as a substitute for reported, or GAAP net
loss and diluted net loss per common share.
(1) Stock option expense -- Non-GAAP net loss and diluted net loss per
common share exclude the impact of the stock option expense recorded
in accordance with SFAS No. 123R. Amicus believes that excluding the
impact of expensing stock options better reflects the recurring
economic characteristics of its business.<
|SOURCE Amicus Therapeutics|
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