Calliditas Reports Strong Q4 Growth, Sets Sights on Expansion
Stockholm-based biopharmaceutical company Calliditas Therapeutics AB (NASDAQ: CALT) (STO: CALTX) has announced significant growth in its fourth-quarter revenue, positioning the company for future expansion. With preliminary net revenue for its flagship product TARPEYO between $31 million and $33 million, Calliditas has experienced a substantial increase from its third-quarter performance. These strong fourth-quarter results have also contributed to Calliditas reporting preliminary net TARPEYO revenues for the full year of 2023, estimated to be between $100 million and $102 million, representing an impressive 170% increase from the previous year.
Impressive Fourth-Quarter Revenue Boosts Calliditas’ Outlook
Calliditas Therapeutics AB has set a solid foundation for success with its fourth-quarter performance, as the company expects total revenues for 2023 to reach between $110 million and $113 million. This increase is attributed to milestone payments and royalty income from the flourishing Nefecon franchise outside the United States. With a record-breaking number of patient enrollments in the fourth quarter, generating 555 new TARPEYO prescriptions, Calliditas has further solidified its position in the market.
TARPEYO Sales Surge 170% in 2023, Fuelling Calliditas’ Success
In a remarkable breakthrough year, Calliditas Therapeutics AB witnessed a staggering 170% surge in TARPEYO sales in 2023 compared to the previous year. The preliminary net TARPEYO revenues for the full year reached $100 million to $102 million, highlighting the increasing demand for the company’s rare disease treatment solutions. This substantial growth in revenue has set the stage for Calliditas to continue expanding its market presence and boosting profitability.
Record Enrollments and Full Approval Propel Calliditas’ Growth
The fourth quarter of 2023 proved to be a milestone for Calliditas as the company achieved record patient enrollments. The enrolment numbers reached an all-time high, with 555 new TARPEYO prescriptions being issued. The strong demand for Calliditas’ innovative treatment options showcases not only the growing recognition of the company’s product efficacy but also the trust that healthcare professionals and patients place in their solutions. Furthermore, the full approval of TARPEYO in the United States played a significant role in driving growth for Calliditas throughout the year.
Calliditas’ CEO Optimistic about Profitable Future in 2024
CEO Renée Aguiar-Lucander is optimistic about Calliditas’ future prospects, fueled by the company’s impressive fourth-quarter growth and outlook for 2024. Aguiar-Lucander credits the full approval of TARPEYO in the United States, enhanced product protection, and record fourth-quarter enrollments as key factors contributing to Calliditas’ strong market position. This positive trajectory positions the company for continued growth and profitability in 2024.
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Analyst comment
Positive news: Calliditas Therapeutics AB reports strong Q4 growth and sets sights on expansion. Preliminary net revenue for flagship product TARPEYO increased significantly, and net revenues for the full year of 2023 are estimated to have a 170% increase. The company expects total revenues for 2023 to reach between $110 million and $113 million. Record patient enrollments and full approval of TARPEYO in the United States contribute to the company’s growth. CEO is optimistic about profitable future in 2024. Market forecast: Continued growth and profitability for Calliditas in 2024.
