Amicus Therapeutics (NASDAQ:FOLD) Soars after Positive Study Data – GSK, PLX, BMRN, FOLD

Amicus Therapeutics, Inc (NASDAQ:FOLD) on Friday reported positive preliminary results from all 4 dose cohorts in the phase 2 inquiry of the pharmacological chaperone AT2220 co-administered with enzyme replacement therapy or ERT for Pompe disease.

The results of the inquiry 010 have directed Amicus to project a repeat-dose clinical study start in the Q3 of 2013.

Amicus reported that the pre-clinical results show that AT2220 in mixture with ERT enhances rhGAA enzyme activity, lowers glycogen accumulation, and potentially mitigates ERT-related immunogenicity as confirmed in a mouse model of Pompe disease.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. GlaxoSmithKline plc (ADR) (NYSE:GSK) surged +0.64% to settle at $44.26, Protalix BioTherapeutics Inc. (NYSEAMEX:PLX) moved up +1.70% to end at $5.39 while BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) jumped +0.71% to finish at $52.54 on Friday.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) last session’s volume of 5.64million shares was surprisingly higher than its average volume of 1.45million shares. The stock after opening at $3.60hit high price of $3.96and then closed at $3.58by scoring +8.48%.

The liquidity measure in recent quarter results of the company was recorded 11.33as current ratio and on the other side the debt to equity ratio was 0.01and long-term debt to equity ratio remained at 0.01. The Company had total cash of $106.21 million at hand and a book value per share as $1.56in the most recent quarter.

The stock’s price volatility was 9.83% for a week and 7.47% for a month as well as price volatility’s Average True Range for 14 days was 0.42and its beta remained at 0.87.

FOLD generated revenue of $24.04million in the previous twelve months and earned -$47.43million. The Company showed a negative-197.30% in the net profit margin as well as in its operating margin which remained at -208.14%.

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