Item 2.02 Results of Operations and Financial Condition.
On January 9, 2023, BioMarin Pharmaceutical Inc. (the "Company") presented a
business update at the 41st Annual J.P. Morgan Healthcare Conference (the
"Presentation"), during which the Company disclosed that based on preliminary
results the Company estimates that it generated approximately $2.09 billion in
total revenues (unaudited) for the year ended December 31, 2022, including
approximately $169 million in revenues (unaudited) for the year ended
December 31, 2022 from sales of VOXZOGO®. The information in this Item 2.02 is
unaudited, preliminary, and subject to the Company's normal quarterly and annual
accounting and financial statement closing procedures. The information in this
Item 2.02 does not present all information necessary for an understanding of the
Company's results of operations for the fiscal year ended December 31, 2022, and
should not be viewed as a substitute for full financial statements prepared in
accordance with U.S. generally accepted accounting principles. There can be no
assurance that actual results will not differ from the preliminary estimates in
this Item 2.02. The Company expects to report its results for the fourth quarter
and full year 2022 in February 2023. The Presentation was previously announced
by press release and was made available to the public via simultaneous webcast,
and the slides that accompanied the Presentation were made available to the
public on the Company's website. A copy of the relevant slides relating to the
aforementioned financial updates is attached hereto as Exhibit 99.1 and
incorporated herein by reference.
The information contained in this Item 2.02 and in the accompanying Exhibit 99.1
to this Current Report on Form 8-K is being furnished and shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or otherwise subject to the liabilities under that
section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act, regardless of any
general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Relevant Slides from BioMarin Pharmaceutical Inc. J.P. Morgan 2023
Presentation, dated January 9, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
Forward Looking Statements
This current report on Form 8-K contains forward-looking statements about the
financial performance of BioMarin Pharmaceutical Inc., including preliminary
estimated unaudited total revenues for the year ended December 31, 2022,
including revenues from sales of VOXZOGO ®. These forward-looking statements are
predictions and involve risks and uncertainties such that actual results may
differ materially from these statements. These risks and uncertainties include,
among others: completion of BioMarin's normal quarterly and annual accounting
and financial statement closing procedures for the quarter and the year ended
December 31, 2022, and those factors detailed in BioMarin's filings with the
Securities and Exchange Commission, including, without limitation, the factors
contained under the caption "Risk Factors" in BioMarin's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2022 as such factors may be
updated by any subsequent reports. Investors are urged not to place undue
reliance on forward-looking statements, which speak only as of the date hereof.
BioMarin is under no obligation and expressly disclaims any obligation to update
or alter any forward-looking statement, whether as a result of new information,
future events or otherwise.
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