Amarin Q2 revenue $80M (-15%); net loss narrows to $17.6M; lowers 2023 opex guidance

AMARIN CORP PLCUK

2023-Q2 EPS reported -$0.08 revenue$166,142,000

Total net revenue $80.2M (-15% YoY); net product revenue $65.2M (-31% YoY) due to generic competition.
GAAP net loss $17.6M ($0.04 loss per share) vs $70.0M loss ($0.18 loss) in Q2 2022; non-GAAP adjusted net income $8.6M.
Cash and investments $313M; generated positive cash flow of $9M during the quarter.
Lowering 2023 operating expense guidance to $240-250M from $270-285M; cost reduction plan savings $40M over 12 months.
Spain's drug pricing committee recommended national reimbursement of VAZKEPA; regulatory approvals in China and Saudi Arabia.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMARIN CORP PLCUK reported three months ended June 30, 2023 results: revenue Net product revenue for the three months ended June 30, 2023, was $65.2 million.

Period: three months ended June 30, 2023
Revenue: Net product revenue for the three months ended June 30, 2023, was $65.2 million
Result: reported results

Exact text from the filing

Total net revenue for the three months ended June 30, 2023, was $80.2 million, compared to $94.4 million in the corresponding period of 2022, a decrease of 15%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMARIN CORP PLCUK reported three months ended June 30, 2023 results: revenue Net product revenue for the three months ended June 30, 2023, was $65.2 million.

Period: three months ended June 30, 2023
Revenue: Net product revenue for the three months ended June 30, 2023, was $65.2 million
Result: reported results

Exact text from the filing

Net product revenue for the three months ended June 30, 2023, was $65.2 million, compared to $93.8 million in the corresponding period of 2022, a decrease of 31%.

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Source: SEC EDGAR

accession 0000950170-23-036766

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