Amarin Reports Third Quarter 2024 Financial Results and Provides Business Update
Amarin (AMRN) reported Q3 2024 financial results with total net revenue of $42.3 million, down 36% from $66.1 million in Q3 2023. The company maintains a strong cash position of $306 million. European VAZKEPA sales grew 19% sequentially, driven by Spain and UK markets. U.S. net product revenue was $30.6 million, while European and RoW revenues were $4.3 million and $6.9 million respectively. The company reported a net loss of $25.1 million or $0.06 per share. Operating expenses decreased 18% to $41.4 million due to cost optimization efforts.
Amarin (AMRN) ha riportato i risultati finanziari per il terzo trimestre del 2024 con entrate nette totali di 42,3 milioni di dollari, in calo del 36% rispetto ai 66,1 milioni di dollari del terzo trimestre del 2023. L'azienda mantiene una solida posizione di liquidità di 306 milioni di dollari. Le vendite europee di VAZKEPA sono cresciute del 19% rispetto al trimestre precedente, trainate dai mercati di Spagna e Regno Unito. Le entrate nette da prodotti negli Stati Uniti sono state di 30,6 milioni di dollari, mentre le entrate in Europa e nel resto del mondo sono state rispettivamente di 4,3 milioni di dollari e 6,9 milioni di dollari. L'azienda ha registrato una perdita netta di 25,1 milioni di dollari o 0,06 dollari per azione. Le spese operative sono diminuite del 18% a 41,4 milioni di dollari grazie a sforzi di ottimizzazione dei costi.
Amarin (AMRN) reportó los resultados financieros del tercer trimestre de 2024 con ingresos netos totales de 42,3 millones de dólares, un descenso del 36% con respecto a los 66,1 millones de dólares del tercer trimestre de 2023. La compañía mantiene una sólida posición de caja de 306 millones de dólares. Las ventas europeas de VAZKEPA crecieron un 19% secuencialmente, impulsadas por los mercados de España y Reino Unido. Los ingresos netos por productos en EE. UU. fueron de 30,6 millones de dólares, mientras que los ingresos en Europa y el resto del mundo fueron de 4,3 millones de dólares y 6,9 millones de dólares respectivamente. La compañía reportó una pérdida neta de 25,1 millones de dólares o 0,06 dólares por acción. Los gastos operativos disminuyeron un 18% a 41,4 millones de dólares debido a los esfuerzos de optimización de costos.
Amarin (AMRN)은 2024년 3분기 재무 결과를 보고하며 총 순수익 4230만 달러를 기록하였고, 이는 2023년 3분기의 6610만 달러에 비해 36% 감소한 수치입니다. 이 회사는 3억 600만 달러의 강한 현금 포지션을 유지하고 있습니다. 유럽의 VAZKEPA 판매는 스페인과 영국 시장의 수요에 힘입어 순차적으로 19% 증가하였습니다. 미국에서의 순 제품 수익은 3060만 달러였고, 유럽과 기타 지역의 수익은 각각 430만 달러와 690만 달러였습니다. 이 회사는 2510만 달러의 순손실 또는 주당 0.06달러를 기록했습니다. 운영 비용은 비용 최적화 노력 덕분에 18% 감소하여 4140만 달러에 이릅니다.
Amarin (AMRN) a annoncé les résultats financiers du troisième trimestre 2024 avec un revenu net total de 42,3 millions de dollars, en baisse de 36% par rapport à 66,1 millions de dollars au troisième trimestre 2023. L'entreprise maintient une solide position de trésorerie de 306 millions de dollars. Les ventes de VAZKEPA en Europe ont augmenté de 19% par rapport au trimestre précédent, soutenues par les marchés espagnol et britannique. Le revenu net des produits aux États-Unis était de 30,6 millions de dollars, tandis que les revenus en Europe et dans le reste du monde étaient respectivement de 4,3 millions de dollars et 6,9 millions de dollars. L'entreprise a déclaré une perte nette de 25,1 millions de dollars ou 0,06 dollar par action. Les dépenses d'exploitation ont diminué de 18% pour atteindre 41,4 millions de dollars grâce à des efforts d'optimisation des coûts.
Amarin (AMRN) berichtete über die Finanzergebnisse des 3. Quartals 2024 mit einem Gesamtumsatz von 42,3 Millionen Dollar, was einem Rückgang von 36% im Vergleich zu 66,1 Millionen Dollar im 3. Quartal 2023 entspricht. Das Unternehmen verfügt über eine starke Liquiditätsposition von 306 Millionen Dollar. Die Verkäufe von VAZKEPA in Europa stiegen im Vergleich zum vorherigen Quartal um 19%, angetrieben von den Märkten in Spanien und Großbritannien. Der Nettoumsatz in den USA betrug 30,6 Millionen Dollar, während der Umsatz in Europa und im Rest der Welt 4,3 Millionen Dollar bzw. 6,9 Millionen Dollar betrug. Das Unternehmen berichtete von einem netto Verlust von 25,1 Millionen Dollar oder 0,06 Dollar pro Aktie. Die Betriebskosten sanken um 18% auf 41,4 Millionen Dollar aufgrund von Kostenoptimierungsmaßnahmen.
- Strong cash position maintained at $306 million for 9 consecutive quarters
- European VAZKEPA sales grew 19% sequentially
- Operating expenses reduced by 18% to $41.4 million
- Maintained over 50% share of IPE market in U.S.
- Secured national reimbursement in Portugal and Australia
- Total net revenue declined 36% year-over-year to $42.3 million
- Net loss increased to $25.1 million from $19.3 million year-over-year
- Gross margin decreased to 38% from 44% year-over-year
- U.S. net product revenue declined 51% to $30.6 million
- Lost CVS coverage for VASCEPA affecting sales volume
Insights
Amarin's Q3 2024 results reveal significant challenges with
The U.S. business shows resilience by maintaining
The geographic revenue diversification strategy shows promise with European and RoW segments growing significantly. European revenue jumped to
However, the loss of CVS coverage in the U.S. creates a significant headwind for domestic revenue. The company's consideration of an authorized generic launch timing suggests a strategic shift to protect market share. The commitment to maintaining public listing amid these challenges indicates potential corporate actions ahead to address the stock's valuation.
-- Strong Cash Position of
-- Total Net Revenue of
-- Positive European Momentum Continues with Progress from Pricing & Reimbursement Efforts and Incremental Revenue Growth Driven Primarily by Spain and the UK --
-- Company to Host Virtual Analyst & Investor Day November 14 --
-- Company Remains Committed to Maintaining Public Listing –
DUBLIN and BRIDGEWATER, N.J., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ: AMRN), today reported financial results for the third quarter ended September 30, 2024, and provided a business update.
At Amarin, the company’s product -- VASCEPA®/VAZKEPA® (icosapent ethyl) -- has significant growth and value potential globally. This continues to be validated by progress around the world. During the quarter, VAZKEPA sales grew
In the U.S., the Company has maintained +
Commenting on the Company and its third quarter results, Aaron Berg, Amarin’s President and CEO stated, “While we and our global partners continue to execute on our multipronged global strategy focused on getting VASCEPA/VAZKEPA into the hands of as many patients as possible, the senior leadership team and I, as well as the Board of Directors, remain committed to evaluating all opportunities to maximize the value and impact of this highly impactful product. To that end, we look forward to highlighting the global opportunity for VASCEPA/VAZKEPA and to hear directly from both prescribers and select partners from around the world on the impact of VASCEPA/VAZKEPA during our upcoming virtual Analyst and Investor Day on November 14.”
Continuing, Berg said, “We remain fully committed to our public listing – it is very important for us as well as our shareholders. In addition to continuing to drive the business, there are a number of paths available to us to resolve the issue.”
Third Quarter Operational Highlights
- Amarin continued to advance pricing and reimbursement efforts across additional European and Rest of World (RoW) markets, including:
- In Italy, realized further progress with the pricing and reimbursement authorities, and the Company hopes to be able to share further updates soon.
- In Portugal, secured national reimbursement for VAZKEPA.
- In Australia, in collaboration with our partner CSL Seqirus, secured national reimbursement for VAZKEPA in Australia, where CSL is now launching the product.
- Investigators presented new subgroup data from the landmark REDUCE-IT® cardiovascular outcomes trial with VASCEPA/VAZKEPA, as well as abstracts showcasing the mechanistic activity of eicosapentaenoic acid (EPA) at the European Society of Cardiology (ESC) Congress.
- Investigators presented new research on the clinical impact of VASCEPA/VAZKEPA in patients with diabetes and high cardiovascular risk and the anti-Lp(a) oxidation mechanistic effects of eicosapentaenoic acid (EPA) at the 60th Annual European Association for the Study of Diabetes (EASD) Meeting.
Financial Update
Financial Highlights
| ($ in millions) | Three months ended September 30, 2024 | Three months ended September 30, 2023 | % Change | |||
| Total Net Revenue | - | |||||
| Operating Expenses1 | - | |||||
| Cash | - | |||||
1 – Excludes restructuring expense of
Total net revenue for the three months ended September 30, 2024 was
Cost of goods sold for the three months ended September 30, 2024 was
Selling, general and administrative expenses for the three months ended September 30, 2024 was
Research and development expenses for the three months ended September 30, 2024 were
Under U.S. GAAP, the Company reported net loss of
Excluding non-cash stock-based compensation expense and restructuring expense, non-GAAP adjusted net loss was
As of September 30, 2024, the Company reported aggregate cash and investments of
2024 Financial Outlook
The Company is committed to executing against the significant opportunity in Europe. The Company is focused on maintaining market share in the U.S. and maximizing cash generation from the attractive and growing Rest of World (RoW) income stream. The Company continues to make progress on reducing operating expenses and managing its cash position, including
Virtual Analyst & Investor Day 2024 – November 14
Amarin will host a virtual analyst and investor day on Thursday, November 14, 2024, from 8:00 AM EST to 10:00 AM EST. The event will be hosted by members of the Amarin senior management team and will focus on updating the investment community on the current state of the VASCEPA/VAZKEPA franchise, with particular attention given to discussions on the dynamics of key geographies that represent the future value of the franchise, including Europe. In addition, a dedicated question and answer session will be held during which the Amarin senior management team will entertain questions submitted in advance to investor.relations@amarincorp.com.
As a virtual event, the program will be webcast and archived for future reference and will be open to all participants; participation will require a simple registration step before joining, which will be available through the Company website prior to this event. Throughout the event, there will be no live interaction with audience participants.
Q3 2024 Earnings Conference Call and Webcast Information
Amarin will host a conference call on October 30, 2024, at 5:00 p.m. ET to discuss this information. The conference call can be accessed on the investor relations section of the company's website at www.amarincorp.com, or via telephone by dialing 888-506-0062 within the United States, 973-528-0011 from outside the United States, and referencing conference ID 732244. A replay of the call will be made available for a period of two weeks following the conference call. To listen to a replay of the call, dial 877-481-4010 from within the United States and 919-882-2331 from outside of the United States, and reference conference ID 51361. A replay of the call will also be available through the company's website shortly after the call.
About Amarin
Amarin is an innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. We are committed to increasing the scientific understanding of the cardiovascular risk that persists beyond traditional therapies and advancing the treatment of that risk for patients worldwide. Amarin has offices in Bridgewater, New Jersey in the United States, Dublin in Ireland, Zug in Switzerland, and other countries in Europe as well as commercial partners and suppliers around the world.
About VASCEPA®/VAZKEPA® (icosapent ethyl) Capsules
VASCEPA (icosapent ethyl) capsules are the first prescription treatment approved by the U.S. Food and Drug Administration (FDA) comprised solely of the active ingredient, icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. VASCEPA was launched in the United States in January 2020 as the first drug approved by the U.S. FDA for the treatment of high-risk patients with persistent cardiovascular risk despite being on statin therapy. VASCEPA was initially launched in the United States in 2013 based on the drug’s initial FDA approved indication for use as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Since launch, VASCEPA has been prescribed more than twenty-five million times. VASCEPA is covered by most major medical insurance plans. In addition to the United States, VASCEPA is approved and sold in Canada, China, Australia, Lebanon, the United Arab Emirates, Kuwait, Saudi Arabia, Qatar and Bahrain. In Europe, in March 2021 marketing authorization was granted via a centralized procedure for icosapent ethyl in the European Union for the reduction of risk of cardiovascular events in patients at high cardiovascular risk, under the brand name VAZKEPA. VAZKEPA (icosapent ethyl) is currently sold in Europe in Sweden, Finland, Austria, the UK (including England, Wales & Scotland and Northern Ireland), Spain, Portugal, Greece and the Netherlands. In April 2021 marketing authorization for VAZKEPA (icosapent ethyl) was granted in Great Britain (applying to England, Scotland, Wales and Northern Ireland).
United States
Indications and Limitation of Use
VASCEPA is indicated:
- As an adjunct to maximally tolerated statin therapy to reduce the risk of myocardial infarction, stroke, coronary revascularization and unstable angina requiring hospitalization in adult patients with elevated triglyceride (TG) levels (≥ 150 mg/dL) and
- established cardiovascular disease or
- diabetes mellitus and two or more additional risk factors for cardiovascular disease.
- As an adjunct to diet to reduce TG levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.
The effect of VASCEPA on the risk for pancreatitis in patients with severe hypertriglyceridemia has not been determined.
Important Safety Information
- VASCEPA is contraindicated in patients with known hypersensitivity (e.g., anaphylactic reaction) to VASCEPA or any of its components.
- VASCEPA was associated with an increased risk (
3% vs2% ) of atrial fibrillation or atrial flutter requiring hospitalization in a double-blind, placebo-controlled trial. The incidence of atrial fibrillation was greater in patients with a previous history of atrial fibrillation or atrial flutter. - It is not known whether patients with allergies to fish and/or shellfish are at an increased risk of an allergic reaction to VASCEPA. Patients with such allergies should discontinue VASCEPA if any reactions occur.
- VASCEPA was associated with an increased risk (
12% vs10% ) of bleeding in a double-blind, placebo-controlled trial. The incidence of bleeding was greater in patients receiving concomitant antithrombotic medications, such as aspirin, clopidogrel or warfarin. - Common adverse reactions in the cardiovascular outcomes trial (incidence ≥
3% and ≥1% more frequent than placebo): musculoskeletal pain (4% vs3% ), peripheral edema (7% vs5% ), constipation (5% vs4% ), gout (4% vs3% ), and atrial fibrillation (5% vs4% ). - Common adverse reactions in the hypertriglyceridemia trials (incidence >
1% more frequent than placebo): arthralgia (2% vs1% ) and oropharyngeal pain (1% vs0.3% ). - Adverse events may be reported by calling 1-855-VASCEPA or the FDA at 1-800-FDA-1088.
- Patients receiving VASCEPA and concomitant anticoagulants and/or anti-platelet agents should be monitored for bleeding.
FULL U.S. FDA-APPROVED VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT WWW.VASCEPA.COM.
Europe
For further information about the Summary of Product Characteristics (SmPC) for VAZKEPA® in Europe, please visit: https://www.medicines.org.uk/emc/product/12964/smpc.
Globally, prescribing information varies; refer to the individual country product label for complete information.
Use of Non-GAAP Adjusted Financial Information Included in this press release are non-GAAP adjusted financial information as defined by U.S. Securities and Exchange Commission Regulation G. The GAAP financial measure most directly comparable to each non-GAAP adjusted financial measure used or discussed, and a reconciliation of the differences between each non-GAAP adjusted financial measure and the comparable GAAP financial measure, is included in this press release after the condensed consolidated financial statements.
Non-GAAP adjusted net (loss) income was derived by taking GAAP net loss and adjusting it for non-cash stock-based compensation expense, restructuring expense and other one-time expenses. Management uses these non-GAAP adjusted financial measures for internal reporting and forecasting purposes, when publicly providing its business outlook, to evaluate the company’s performance and to evaluate and compensate the company’s executives. The company has provided these non-GAAP financial measures in addition to GAAP financial results because it believes that these non-GAAP adjusted financial measures provide investors with a better understanding of the company’s historical results from its core business operations.
While management believes that these non-GAAP adjusted financial measures provide useful supplemental information to investors regarding the underlying performance of the company’s business operations, investors are reminded to consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures prepared in accordance with GAAP. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the company’s results of operations as determined in accordance with GAAP. In addition, it should be noted that these non-GAAP financial measures may be different from non-GAAP measures used by other companies, and management may utilize other measures to illustrate performance in the future.
Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including beliefs about Amarin’s key achievements in 2023 and the potential impact and outlook for achievements in 2024 and beyond; Amarin’s 2024 financial outlook and cash position; Amarin’s overall efforts to expand access and reimbursement to VAZKEPA across global markets; and the overall potential and future success of VASCEPA/VAZKEPA and Amarin generally. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin's filings with the U.S. Securities and Exchange Commission, including Amarin’s quarterly report on Form 10-Q for the period ending September 30, 2024 and annual report on Form 10-K for the full year ended 2023. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Amarin undertakes no obligation to update or revise the information contained in its forward-looking statements, whether as a result of new information, future events or circumstances or otherwise. Amarin’s forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate.
Availability of Other Information About Amarin
Investors and others should note that Amarin communicates with its investors and the public using the company website (www.amarincorp.com), the investor relations website (www.amarincorp.com/investor-relations), including but not limited to investor presentations and investor FAQs, U.S. Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that Amarin posts on these channels and websites could be deemed to be material information. As a result, Amarin encourages investors, the media, and others interested in Amarin to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on Amarin’s investor relations website and may include social media channels. The contents of Amarin’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.
Amarin Contact Information
Investor & Media Inquiries:
Mark Marmur
Amarin Corporation plc
PR@amarincorp.com
-Tables to Follow-
| CONSOLIDATED BALANCE SHEET DATA | ||||||||||
| (U.S. GAAP) | ||||||||||
| Unaudited | ||||||||||
| September 30, 2024 | December 31, 2023 | |||||||||
| (in thousands) | ||||||||||
| ASSETS | ||||||||||
| Current Assets: | ||||||||||
| Cash and cash equivalents | $ | 156,944 | $ | 199,252 | ||||||
| Restricted cash | 526 | 525 | ||||||||
| Short-term investments | 148,788 | 121,407 | ||||||||
| Accounts receivable, net | 112,642 | 133,563 | ||||||||
| Inventory | 224,000 | 258,616 | ||||||||
| Prepaid and other current assets | 7,316 | 11,618 | ||||||||
| Total current assets | 650,216 | 724,981 | ||||||||
| Property, plant and equipment, net | 24 | 114 | ||||||||
| Long-term inventory | 74,023 | 77,615 | ||||||||
| Operating lease right-of-use asset | 7,984 | 8,310 | ||||||||
| Other long-term assets | 1,250 | 1,360 | ||||||||
| Intangible asset, net | 17,118 | 19,304 | ||||||||
| TOTAL ASSETS | $ | 750,615 | $ | 831,684 | ||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||
| Current Liabilities: | ||||||||||
| Accounts payable | $ | 40,507 | $ | 52,762 | ||||||
| Accrued expenses and other current liabilities | 161,047 | 204,174 | ||||||||
| Current deferred revenue | — | 2,341 | ||||||||
| Total current liabilities | 201,554 | 259,277 | ||||||||
| Long-Term Liabilities: | ||||||||||
| Long-term deferred revenue | — | 2,509 | ||||||||
| Long-term operating lease liability | 8,215 | 8,737 | ||||||||
| Other long-term liabilities | 9,471 | 9,064 | ||||||||
| Total liabilities | 219,240 | 279,587 | ||||||||
| Stockholders’ Equity: | ||||||||||
| Common stock | 305,202 | 302,756 | ||||||||
| Additional paid-in capital | 1,911,445 | 1,899,456 | ||||||||
| Treasury stock | (65,344 | ) | (63,752 | ) | ||||||
| Accumulated deficit | (1,619,928 | ) | (1,586,363 | ) | ||||||
| Total stockholders’ equity | 531,375 | 552,097 | ||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 750,615 | $ | 831,684 | ||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS DATA | |||||||||||||||||
| (U.S. GAAP) | |||||||||||||||||
| Unaudited | |||||||||||||||||
| Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
| (in thousands, except per share amounts) | (in thousands, except per share amounts) | ||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| Product revenue, net | $ | 41,852 | $ | 64,903 | $ | 144,522 | $ | 214,744 | |||||||||
| Licensing and royalty revenue | 446 | 1,153 | 21,786 | 17,454 | |||||||||||||
| Total revenue, net | 42,298 | 66,056 | 166,308 | 232,198 | |||||||||||||
| Less: Cost of goods sold | 26,022 | 23,560 | 75,359 | 72,553 | |||||||||||||
| Less: Cost of goods sold - restructuring inventory | — | 12,674 | — | 39,228 | |||||||||||||
| Gross margin | 16,276 | 29,822 | 90,949 | 120,417 | |||||||||||||
| Operating expenses: | |||||||||||||||||
| Selling, general and administrative (1) | 36,904 | 45,457 | 115,340 | 155,997 | |||||||||||||
| Research and development (1) | 4,540 | 5,105 | 14,884 | 16,428 | |||||||||||||
| Restructuring | — | 711 | — | 10,743 | |||||||||||||
| Total operating expenses | 41,444 | 51,273 | 130,224 | 183,168 | |||||||||||||
| Operating loss | (25,168 | ) | (21,451 | ) | (39,275 | ) | (62,751 | ) | |||||||||
| Interest income, net | 3,374 | 3,216 | 10,028 | 8,438 | |||||||||||||
| Other income (expense), net | 265 | (575 | ) | 1,954 | 3,092 | ||||||||||||
| Loss from operations before taxes | (21,529 | ) | (18,810 | ) | (27,293 | ) | (51,221 | ) | |||||||||
| Provision for income taxes | (3,605 | ) | (501 | ) | (6,272 | ) | (2,110 | ) | |||||||||
| Net loss | $ | (25,134 | ) | $ | (19,311 | ) | $ | (33,565 | ) | $ | (53,331 | ) | |||||
| Loss per share: | |||||||||||||||||
| Basic | $ | (0.06 | ) | $ | (0.05 | ) | $ | (0.08 | ) | $ | (0.13 | ) | |||||
| Diluted | $ | (0.06 | ) | $ | (0.05 | ) | $ | (0.08 | ) | $ | (0.13 | ) | |||||
| Weighted average shares: | |||||||||||||||||
| Basic | 411,150 | 408,417 | 410,786 | 407,489 | |||||||||||||
| Diluted | 411,150 | 408,417 | 410,786 | 407,489 | |||||||||||||
| (1) - Excluding non-cash stock-based compensation, selling, general and administrative expenses were | |||||||||||||||||
| RECONCILIATION OF NON-GAAP NET INCOME (LOSS) | ||||||||||||||||||||
| Unaudited | ||||||||||||||||||||
| Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||
| (in thousands, except per share amounts) | (in thousands, except per share amounts) | |||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||
| Net loss for EPS1 - GAAP | (25,134 | ) | (19,311 | ) | (33,565 | ) | (53,331 | ) | ||||||||||||
| Stock-based compensation expense | 4,698 | 4,643 | 14,303 | 12,034 | ||||||||||||||||
| Restructuring inventory | — | 12,674 | — | 39,228 | ||||||||||||||||
| Restructuring expense | — | 711 | — | 10,743 | ||||||||||||||||
| Advisor fees | — | — | — | 6,270 | ||||||||||||||||
| Net (loss) income for EPS1 - non-GAAP | $ | (20,436 | ) | $ | (1,283 | ) | $ | (19,262 | ) | $ | 14,944 | |||||||||
| 1basic and diluted | ||||||||||||||||||||
| (Loss) earnings per share: | ||||||||||||||||||||
| Basic - non-GAAP | $ | (0.05 | ) | $ | (0.00 | ) | $ | (0.05 | ) | $ | 0.04 | |||||||||
| Diluted - non-GAAP | $ | (0.05 | ) | $ | (0.00 | ) | $ | (0.05 | ) | $ | 0.04 | |||||||||
| Weighted average shares: | ||||||||||||||||||||
| Basic | 411,150 | 408,417 | 410,786 | 407,489 | ||||||||||||||||
| Diluted | 411,150 | 408,417 | 410,786 | 417,117 | ||||||||||||||||
FAQ
What was Amarin's (AMRN) revenue in Q3 2024?
How much cash does Amarin (AMRN) have as of Q3 2024?
What was Amarin's (AMRN) European sales growth in Q3 2024?
What was Amarin's (AMRN) net loss in Q3 2024?
