Amarin reports Q4 revenue down 17% to $74.7M; GAAP net loss $5.8M; initiates $50M share repurchase

AMARIN CORP PLCUK

2023-FY EPS reported -$0.15 revenue$306,911,000

Total net revenue $74.7M in Q4 2023 vs $90.2M in Q4 2022 (-17%); US net product revenue fell to $64.9M from $88.0M due to generic competition.
GAAP net loss $5.8M ($0.01 loss per share) vs net income $0.9M in prior year; non-GAAP adjusted net loss $0.9M.
Gross margin on net product revenue declined to 58% from 70% in Q4 2022.
Cash and investments $321M at year-end; reaffirmed full-year positive cash flow of $10M.
Board initiated shareholder approval process for up to $50M share repurchase program expected by end of Q2 2024.

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 updated its the quarter and year ended December 31, 2023 guidance (reaffirmed).

Period: the quarter and year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 29, 2024, Amarin Corporation plc (“ Amarin ”) issued a press release announcing its financial results for the three and twelve months ended December 31, 2023 and 2022 (the “ Press Release ”).

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Source: SEC EDGAR

accession 0000950170-24-022635

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