secwatch.observer — SEC 8-K summary
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Issuer:     AMARIN CORP PLCUK (AMRN)
CIK:        0000897448
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-050889
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/897448/000095017024050889/0000950170-24-050889-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/897448/000095017024050889/amrn-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050889

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