AAA financials reveal 30% uptick in sales

Advanced Accelerator Applications (AAA) in Saint-Genis-Pouilly, France, announced yesterday that the company’s sales were up just over 30 percent to almost $80 million, according to an annual financial report.

The company’s big news this year is an ongoing phase III trial for Lu-DOTATATE (Lutathera) and ongoing development of Ga-68 DOTATATE (Somakit), which obtained both FDA and EMA orphan drug designation, and Tc-99m rh-Annexin V-128, for the visualization of apoptosis in oncologic applications.

Stefano Buono, chief executive officer of AAA, told Molecular Imaging, “GEP-NETs constitute a life-threatening disease and effective patient management requires accurate diagnostic tools. The orphan drug designation of AAA’s Gallium-68 DOTATATE will accelerate the development of this agent and hopefully allow it to be available to patients in the next few years. ”

The company also reported expansion in both Europe and the U.S., a capital increase of more than $55 million. Most notably the company established AAA Poland and signed an agreement with the University of Warsaw for a new production site.

Non-executive directors Yvonne Greenstreet, Steven Gannon, Christian Merle and Leopoldo Zambeletti have been added to AAA’s board.