Amarin Q1 revenue $56.5M (-34% YoY); European in-market sales +65% QoQ; GAAP loss $0.02

AMARIN CORP PLCUK

2024-Q1 EPS reported -$0.02 revenue$56,519,000

U.S. net product revenue fell 41% YoY to $48.1M on generic price erosion; gross margin narrowed to 55% from adjusted 70% a year ago.
GAAP net loss $10.0M ($0.02/share) vs loss $16.5M ($0.04) Q1'23; non-GAAP adjusted net loss $4.7M ($0.01) vs income $7.6M ($0.02) YoY.
European in-market sales grew ~65% Q1'24 vs Q4'23, driven by Spain (+91% patients on therapy) and UK (+28%).
EPO issued new VAZKEPA patent extending IP protection in Europe until 2039; $50M share repurchase program approved, pending UK High Court OK in Q2.
Cash & investments $308.2M, stable over seven quarters; on track for $40M annual cost savings from July 2023 restructuring.

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 0.9

AMARIN CORP PLCUK reported the three months ended March 31, 2024 results: revenue $56.5 million.

Period: the three months ended March 31, 2024
Revenue: $56.5 million
Result: reported results

Exact text from the filing

Total net revenue for the three months ended March 31, 2024 was $56.5 million, compared to $86.0 million in the corresponding period of 2023, a decrease of 34%.

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Source: SEC EDGAR

accession 0000950170-24-050889

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