-- Data Further Advance Understanding of VASCEPA®/VAZKEPA® Potential Mechanisms of Action --DUBLIN, Ireland and BRIDGEWATER, N.J., Aug. 31, 2025 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today highlighted in vitro data assessing the effects of EPA on lipoprotein(a) [Lp(a)] oxidation and on cellular stress and inflammatory protein expression in endothelial cells and preliminary data showcasing the potential anti-inflammatory mechanism of icosapent ethyl (IPE) via modulation of nod-like recepto ...

Core Insights - The 2025 ESC/EAS Dyslipidemia Guideline Update reaffirms high-dose icosapent ethyl (IPE) as a Class IIA recommended therapy for high-risk or very high-risk patients to reduce cardiovascular events based on the REDUCE-IT trial findings [1][14] Group 1: REDUCE-IT Trial Findings - Three sub-analyses from the REDUCE-IT trial demonstrate significant reductions in cardiovascular disease (CVD) risk and outcomes associated with IPE administration in patients with cardiovascular-kidney-metabolic (CKM) syndrome, stratified by baseline apolipoprotein B (ApoB) and fasting triglyceride-rich lipoprotein cholesterol (TRL-C) levels [1][2] - IPE treatment showed a 44% relative risk reduction (RRR) for the primary composite endpoint in patients with an estimated glomerular filtration rate (eGFR) < 60 mL/min/1.73 m², with a hazard ratio (HR) of 0.56 (95% CI 0.39, 0.79), P = 0.001, and an absolute risk reduction (ARR) of 11.2% [4][5] Group 2: Impact on Major Adverse Cardiovascular Events (MACE) - IPE treatment resulted in significant reductions in MACE across all quartiles of baseline ApoB and TRL-C concentrations, with HRs ranging from 0.72 to 0.80 for ApoB and from 0.74 to 0.68 for TRL-C, all with P ≤ 0.02 [8][9] Group 3: Hospitalization and Mortality Outcomes - IPE significantly reduced total hospitalizations (HR 0.91, 95% CI 0.84, 0.98, P=0.017) and increased the likelihood of surviving without hospitalization (odds ratio (OR) 1.12, 95% CI 1.02, 1.22, P=0.016) [12][13] Group 4: Clinical Recommendations - The ESC/EAS guidelines recommend high-dose IPE for patients with elevated triglyceride levels (135–499 mg/dL) despite statin therapy, emphasizing its role in reducing CVD events [14]

Core Insights - Amarin Corporation will present new data on icosapent ethyl (IPE) at the European Society of Cardiology (ESC) Congress 2025, highlighting its cardioprotective effects [1][2] - The data will focus on IPE's role in reducing cardiovascular risk through various mechanisms, including inflammation and lipoprotein oxidation [2][3] Presentation Highlights - New analyses from the REDUCE-IT trial will evaluate the clinical benefits of IPE, including its impact on hospitalization risk and duration [2][3] - Mechanistic studies will explore the effects of eicosapentaenoic acid (EPA) on inflammasome activation and pro-inflammatory protein expression in endothelial cells [2][3] Educational Initiatives - Amarin will support educational programming addressing residual cardiovascular risk, featuring presentations by medical and scientific leaders in Europe [3][5] Symposium and Abstracts - Moderated poster presentations will include topics such as the reduction of cardiovascular disease risk in cardiovascular-kidney-metabolic syndrome and the impact of IPE across different apolipoprotein B and triglyceride levels [4][7] - Oral presentations will cover the effects of IPE on hospitalization risks and the modulation of inflammasome activation in macrophages [7] Company Overview - Amarin is focused on advancing cardiovascular disease management and understanding residual cardiovascular risk beyond traditional therapies [8] - The company has a global presence with offices in the United States, Ireland, Switzerland, and partnerships worldwide [8] Product Information - VASCEPA (icosapent ethyl) is the first FDA-approved treatment solely comprising IPE, aimed at high-risk patients with persistent cardiovascular risk despite statin therapy [9] - Since its launch, VASCEPA has been prescribed over 25 million times and is covered by most major medical insurance plans [9]

Core Viewpoint - Amarin (AMRN) shares have recently declined by 5.4% over the past four weeks, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottoming out, with reduced selling pressure, which could lead to a bullish trend for the stock [2][5]. - A hammer pattern forms when there is a small candle body with a long lower wick, signaling that buyers are starting to emerge after a downtrend [4][5]. - The effectiveness of the hammer pattern is enhanced when used alongside other bullish indicators, as its strength is dependent on its placement on the chart [6]. Fundamental Analysis - There has been a recent upward trend in earnings estimate revisions for Amarin, which is a positive sign for the stock's future performance [7]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 2%, indicating that analysts expect better earnings than previously predicted [8]. - Amarin currently holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].

Company Performance - Amarin (AMRN) has returned approximately 56% since the beginning of the calendar year, significantly outperforming the average loss of 6.1% in the Medical sector [4] - The Zacks Consensus Estimate for AMRN's full-year earnings has increased by 50.1% over the past quarter, indicating improved analyst sentiment and a more positive earnings outlook [3] Sector and Industry Comparison - Amarin is part of the Medical sector, which includes 979 individual stocks and currently holds a Zacks Sector Rank of 7 [2] - Within the Medical - Biomedical and Genetics industry, which consists of 489 companies, Amarin ranks 144 in the Zacks Industry Rank, outperforming the average gain of 0.2% in this group [5] - Bayer Aktiengesellschaft (BAYRY), another stock in the Medical sector, has a year-to-date return of 63.1% and also holds a Zacks Rank of 2 (Buy) [4][5] Investment Outlook - Investors interested in Medical stocks should continue to monitor Amarin and Bayer Aktiengesellschaft, as both stocks are expected to maintain their strong performance [6]

Core Insights - Amarin Corporation (AMRN) reported a narrower loss of $0.03 per share for Q2 2025, compared to the Zacks Consensus Estimate of a loss of $0.66 per share, and break-even earnings in the same quarter last year [1][7] - Total revenues for Q2 2025 were $72.7 million, exceeding the Zacks Consensus Estimate of $46 million, and representing an 8% increase from the previous year, driven by higher licensing and royalty revenues [2][7] Financial Performance - Adjusted earnings, excluding stock-based compensation, licensing fees, and restructuring expenses, were $0.04 per share, up from $0.01 per share in the year-ago quarter [2] - Net product revenues from Vascepa, the company's sole marketed drug, were $46.6 million, a 2% decline year-over-year, with U.S. product revenues down 17% to $36.5 million due to increased generic competition [4][8] - Licensing and royalty revenues increased by 31% year-over-year to $26.1 million, attributed to an upfront payment from a European licensing agreement and higher royalties [8] Market Reaction - Shares of Amarin rose by 2.2% on July 30 following the better-than-expected results, with the stock up 54.3% year-to-date compared to a 1% rise in the industry [3] Strategic Developments - In June 2025, Amarin signed a long-term exclusive licensing agreement with Recordati to commercialize Vazkepa in 59 European countries, receiving an upfront payment of $25 million and potential milestone payments of up to $150 million [10][11] - A global restructuring initiative is expected to save approximately $70 million over the next 12 months, which is anticipated to enhance European growth [7][11] Cash Position - As of the end of Q2 2025, Amarin had cash and investments totaling $298.7 million, an increase from $281.8 million as of March 31, 2025 [9]

Financial Data and Key Metrics Changes - Q2 2025 total net revenue was $72.7 million, an increase of $5.3 million or 8% year-over-year, primarily due to the Recordati upfront payment [21] - Q2 2025 net product revenue was $46.6 million, a 2% decrease, mainly driven by lower net selling prices in the U.S., offset by growth in Europe and other markets [21][22] - Q2 2025 U.S. net product revenue was $36.5 million, a decline of 17%, reflecting ongoing pricing pressure from generics [23] - Q2 2025 licensing and royalty revenue was $26.1 million, up 31% from the prior year, reflecting the impact of the Recordati upfront payment [27] Business Line Data and Key Metrics Changes - In Europe, Q2 2025 product revenue reached $6.6 million, almost double the prior year period, with Spain and the UK being the largest contributors [25] - In the rest of the world, Q2 2025 product revenue was $3.5 million, significantly higher than the prior year, driven by partner purchases [26] - End market demand in Europe increased 17% from Q1 2025 and grew 132% year-over-year in the first half of 2025 [10] Market Data and Key Metrics Changes - In China, end market demand grew 68% year-over-year, indicating strong revenue and profitability potential [12] - In Australia, end market demand grew 75% year-over-year, supported by a strong scientific foundation [12] - In Canada, volume growth was 31% month-over-month as of May 2025, with a new product listing agreement expected to expand access [13] Company Strategy and Development Direction - The company entered a long-term licensing and supply agreement with Recordati to accelerate commercialization of Vascepa in Europe [5] - A global restructuring is expected to result in approximately $70 million in operating expense savings over the next twelve months [6][28] - The company aims to maximize the global potential of Vascepa while maintaining a strong financial foundation with nearly $300 million in cash and zero debt [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, highlighting the successful transition to Recordati and the expected growth in Europe [20] - The U.S. business remains a significant cash generator, with expectations of maintaining volume and market share despite pricing pressures [19][46] - Management noted that while year-over-year revenue declines are expected, the focus remains on maximizing value from the U.S. market [17] Other Important Information - The company has secured reimbursement in most local regions in Italy, representing over 91% of eligible patients [10] - Regulatory approval for Vascepa has been granted in 50 markets globally, with ongoing efforts in South Korea for pricing and reimbursement [14] Q&A Session Summary Question: Update on U.S. formulary negotiations and 2026 strategy - Management anticipates maintaining exclusives through 2025 and is prepared to launch an authorized generic when optimal, but currently prefers to compete with the branded product [36][37] Question: Metrics for monitoring Recordati partnership progress - Management indicated that clarity on end market demand will evolve as commercialization efforts progress, with financial results reported quarterly [40][41] Question: Expectations for U.S. volume and net price trajectory - Management expects to maintain volume in the second half of the year, with net price remaining comparable to Q2 levels as long as exclusives are retained [45][46] Question: Timeframe for realizing $70 million in cost savings - Cost savings are expected to be realized on a straight-line basis over the next four quarters, with some variability during the transition period [47] Question: European market penetration expectations with Recordati - Management expressed optimism about growth potential in Europe due to Recordati's established infrastructure and focus on both primary care and specialty cardiology [56][59]

PART I – Financial Information The company's financial information includes detailed statements, management's analysis, market risk disclosures, and internal controls [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended June 30, 2025, reflect a decrease in total assets and a widened net loss, despite improved operating cash flow [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets decreased to $670.1 million, while total liabilities increased and stockholders' equity declined due to the net loss | Balance Sheet Items (in thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $606,819 | $595,399 | | Cash and cash equivalents | $147,877 | $121,038 | | Short-term investments | $150,827 | $173,182 | | Inventory (Current) | $171,244 | $166,048 | | **Total Assets** | **$670,126** | **$685,349** | | **Total Current Liabilities** | $185,946 | $179,949 | | **Total Liabilities** | **$205,202** | **$199,173** | | **Total Stockholders' Equity** | **$464,924** | **$486,176** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue increased due to licensing, but a significant restructuring charge led to a net loss for both the quarter and six-month period | (in thousands, except per share) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total revenue, net** | **$72,741** | **$67,491** | **$114,757** | **$124,010** | | Product revenue, net | $46,617 | $47,514 | $87,652 | $102,670 | | Licensing and royalty revenue | $26,124 | $19,977 | $27,105 | $21,340 | | **Operating loss** | **($15,985)** | **($524)** | **($32,742)** | **($14,107)** | | Restructuring Expense | $22,759 | $— | $22,759 | $— | | **Net (loss) income** | **($14,139)** | **$1,522** | **($29,836)** | **($8,431)** | | **Diluted (Loss) earnings per Share** | **($0.03)** | **$0.00** | **($0.07)** | **($0.02)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first half of 2025, operating activities provided cash, leading to a net increase in cash and equivalents, a turnaround from the prior year | (in thousands) | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $4,147 | ($15,350) | | Net cash provided by investing activities | $24,474 | $33,414 | | Net cash used in financing activities | ($1,782) | ($1,392) | | **Net increase in cash** | **$26,839** | **$16,672** | | **Cash, end of period** | **$148,177** | **$216,449** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail a global restructuring plan, a significant licensing agreement, contractual obligations, and ongoing litigation - Announced a global restructuring plan in June 2025 in connection with the Recordati licensing agreement, incurring approximately **$22.8 million** in charges for the quarter, with total expected charges between **$30.0 million** and **$37.0 million**[63](index=63&type=chunk) - Entered into an exclusive long-term license and supply agreement with Recordati in June 2025 to commercialize VAZKEPA in Europe, receiving a **$25.0 million** upfront payment which was fully recognized as revenue in Q2 2025[22](index=22&type=chunk)[129](index=129&type=chunk)[131](index=131&type=chunk) - As of the filing date, the company has future contractual purchase obligations of approximately **$208.0 million**, primarily related to long-term supply agreements for VASCEPA[80](index=80&type=chunk) - In a patent infringement lawsuit against Hikma, the Federal Circuit reversed a lower court's dismissal, finding Amarin's allegations plausibly state a claim of induced infringement. The case is proceeding in district court while Hikma's petition to the Supreme Court is pending[75](index=75&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the impact of generic competition, European strategy pivot, cost reduction efforts, and the company's strong liquidity position [Overview](index=42&type=section&id=Overview) Amarin focuses on commercializing VASCEPA/VAZKEPA, navigating U.S. generic competition, pivoting European strategy, and expanding globally - In the U.S., multiple generic versions of icosapent ethyl have launched, creating significant competition for VASCEPA[156](index=156&type=chunk)[157](index=157&type=chunk) - In June 2025, the company entered an exclusive long-term license agreement with Recordati to commercialize VAZKEPA in **59 European countries**, leading to a global restructuring plan estimated to save approximately **$70.0 million annually**[164](index=164&type=chunk) - The company is expanding globally through partnerships in China (Edding), Canada (HLS), Australia/New Zealand (CSL), and other regions, with regulatory approvals received in **15 countries** outside the U.S. and Europe[170](index=170&type=chunk)[171](index=171&type=chunk) [Results of Operations](index=51&type=section&id=Results%20of%20Operations) Q2 2025 revenue increased due to a licensing deal, offsetting U.S. product decline, but a restructuring charge resulted in a net loss | Revenue Comparison (in millions) | Q2 2025 | Q2 2024 | Change | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenue, Net** | **$72.7** | **$67.5** | **+8%** | **$114.8** | **$124.0** | **-7%** | | U.S. Product Revenue | $36.5 | $43.8 | -17% | $72.2 | $91.9 | -21% | | Europe Product Revenue | $6.6 | $3.5 | +89% | $12.0 | $5.4 | +122% | | Licensing & Royalty Revenue | $26.1 | $20.0 | +31% | $27.1 | $21.3 | +27% | - U.S. product revenue declined due to lower net selling prices from generic competition and decreased volume, partly from losing exclusive coverage with a large PBM. Amarin's share of the U.S. icosapent ethyl market fell to **43%** in Q2 2025 from **59%** in Q2 2024[197](index=197&type=chunk)[198](index=198&type=chunk) - A restructuring expense of **$22.8 million** was recorded in Q2 2025 related to the elimination of European commercial roles following the Recordati agreement[210](index=210&type=chunk) - Selling, general and administrative (SG&A) expenses were flat YoY for Q2 2025 at **$38.7 million**, as higher G&A costs related to the Recordati deal were offset by lower selling expenses from reduced promotional activities[206](index=206&type=chunk) [Liquidity and Capital Resources](index=60&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with significant cash and investments, positive operating cash flow, and sufficient funds for future operations - Total liquidity as of June 30, 2025, was **$298.7 million**, consisting of **$148.2 million** in cash, cash equivalents, and restricted cash, and **$150.8 million** in short-term investments[238](index=238&type=chunk) - The company has an approved share repurchase program for up to **$50.0 million** of its ADSs, valid until Q2 2029, though no repurchases have been made to date[243](index=243&type=chunk) - Management has concluded that existing cash and investments are sufficient to fund projected operations for at least **one year** from the financial statement issuance date[245](index=245&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company reports no material changes to its market risk disclosures since the last annual report - There have been no material changes in the company's exposure to market risk since the last annual report[247](index=247&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control over financial reporting - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of June 30, 2025[250](index=250&type=chunk) - No changes occurred in the company's internal control over financial reporting during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, these controls[251](index=251&type=chunk) PART II – Other Information This section covers legal proceedings, updated risk factors, equity security sales, other disclosures, and a list of exhibits [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 5 of the financial statements for details on ongoing legal proceedings - For information regarding legal proceedings, the report refers to Note 5 – Commitments and Contingencies in the financial statements[253](index=253&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) Updated risk factors highlight dependence on a new collaboration partner, risks from recent workforce reduction, and potential Nasdaq delisting concerns - A key risk is the company's dependence on Recordati for the commercialization of VAZKEPA in Europe. Success is contingent on Recordati's efforts, resources, and strategy, which are outside of Amarin's direct control[256](index=256&type=chunk)[259](index=259&type=chunk) - The recent reduction in force, primarily in European commercial operations, carries risks that could adversely affect revenues or expenses if not managed successfully[258](index=258&type=chunk) - The company faces a risk of its ADSs being delisted from the Nasdaq Stock Market if it fails to maintain the minimum **$1.00** bid price requirement. Although compliance was regained in April 2025 after an ADS ratio change, there is no guarantee of future compliance[261](index=261&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2025, the company withheld ADSs to satisfy tax obligations for employee equity awards | Period (2025) | Total ADSs Purchased | Average Price Paid per ADS | | :--- | :--- | :--- | | April 1 - 30 | 4,781 | $13.15 | | May 1 - 31 | 1,718 | $13.34 | | June 1 - 30 | 40,174 | $15.79 | | **Total** | **46,673** | **$15.43** | [Other Information](index=41&type=section&id=Item%205.%20Other%20Information) No officers or directors adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q2 2025 - No officers or directors engaged in the adoption, modification, or termination of Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q2 2025[265](index=265&type=chunk) [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists key exhibits filed with the Form 10-Q, including a major licensing agreement and officer certifications - Key exhibits filed with this report include the License and Supply Agreement with Recordati dated June 20, 2025, and officer certifications pursuant to the Sarbanes-Oxley Act[267](index=267&type=chunk)

[Executive Summary & Strategic Actions](index=1&type=section&id=Executive%20Summary%20%26%20Strategic%20Actions) Amarin reported progress in Q2 2025, highlighted by a strategic partnership with Recordati to commercialize VAZKEPA in Europe and a global restructuring aimed at saving $70 million in operating expenses over the next year - Signed an exclusive long-term agreement with Recordati S.p.A. to commercialize VAZKEPA® across 59 countries, primarily in Europe, shifting to a partnership model to accelerate market adoption[5](index=5&type=chunk) - Initiated a global restructuring expected to generate approximately **$70 million** in operating expense savings over the next 12 months, mainly from eliminating commercial roles in European operations[6](index=6&type=chunk)[7](index=7&type=chunk) - The company ended the quarter with a strong balance sheet, holding nearly **$300 million** in cash and investments with no debt, which is considered sufficient to fund future growth[4](index=4&type=chunk)[16](index=16&type=chunk) [Q2 2025 Financial Performance](index=2&type=section&id=Q2%202025%20Financial%20Performance) In Q2 2025, Amarin's total net revenue grew 8% year-over-year to $72.7 million, driven by a 31% increase in licensing and royalty revenue, which offset a 2% decline in net product revenue Q2 2025 Key Financial Metrics ($ in millions) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | **Total Net Revenue** | $72.7 | $67.5 | 8% | | **Operating Expenses¹** | $43.6 | $43.3 | 1% | | **Operating Loss** | $16.0 | $0.5 | * | | **Net (Loss) Income** | $(14.1) | $1.5 | * | | **Cash** | $298.7 | - | - | ¹ Excludes restructuring charge of $22.8 million [Revenue Analysis](index=3&type=section&id=Revenue%20Analysis) Total net revenue increased by 8% to $72.7 million, primarily due to a $6.1 million (31%) rise in licensing and royalty revenue from the Recordati partnership Q2 2025 Revenue Breakdown ($ in millions) | Revenue Source | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | **Product Revenue, net:** | | | | | U.S. | $36.5 | $43.8 | -17% | | Europe | $6.6 | $3.5 | 85% | | Rest-of-World (RoW) | $3.5 | $0.2 | * | | **Total Product Revenue, net** | **$46.6** | **$47.5** | **-2%** | | **Licensing & Royalties** | $26.1 | $20.0 | 31% | | **Total Net Revenue** | **$72.7** | **$67.5** | **8%** | - The increase in Licensing and Royalty revenue was primarily driven by the upfront payment from the European licensing agreement with Recordati[10](index=10&type=chunk) - In-market demand grew in all European launch markets, led by Spain and the UK. The Recordati partnership is expected to accelerate this growth[11](index=11&type=chunk) [Operating Expenses](index=4&type=section&id=Operating%20Expenses) Total operating expenses for Q2 2025 were $66.3 million, including a significant one-time restructuring charge of $22.8 million Q2 2025 Operating Expenses ($ in millions) | Expense Category | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | **COGS** | $22.4 | $24.7 | -9% | | **SG&A** | $38.7 | $38.5 | 0% | | **R&D** | $4.9 | $4.7 | 4% | | **Restructuring** | $22.8 | -- | * | - The company recognized a **$22.8 million** restructuring charge related to the global reorganization following the licensing agreement with Recordati[14](index=14&type=chunk) [Net Loss and Balance Sheet](index=4&type=section&id=Net%20Loss%20and%20Balance%20Sheet) The company reported a net loss of $14.1 million, or $0.03 per share, a significant shift from a net income of $1.5 million in the prior-year quarter, primarily due to restructuring costs - Reported a net loss of **$14.1 million**, or **$0.03 loss per share**, compared to net income of **$1.5 million**, or **$0.00 earnings per share** for Q2 2024[16](index=16&type=chunk) - As of June 30, 2025, the company had aggregate cash and investments of **$298.7 million** and remained debt-free[16](index=16&type=chunk) [Corporate Information and Outlook](index=4&type=section&id=Corporate%20Information%20and%20Outlook) Amarin is actively exploring strategic actions to maximize shareholder value with the help of its financial advisor, Barclays - The Board and management are continuing to explore potential strategic actions with financial advisor Barclays to maximize shareholder value[17](index=17&type=chunk) - VASCEPA®/VAZKEPA® is approved for reducing cardiovascular risk in multiple regions, including the U.S., Europe, Canada, and China, and has been prescribed over **twenty-five million times** since its U.S. launch[21](index=21&type=chunk) [Financial Statements](index=8&type=section&id=Financial%20Statements) This section contains the unaudited U.S. GAAP consolidated financial statements for Amarin, including the Balance Sheet, Statement of Operations, and a reconciliation of GAAP to Non-GAAP net income [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, Amarin reported total assets of $670.1 million and total liabilities of $205.2 million Consolidated Balance Sheet Data (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $606,819 | $595,399 | | **TOTAL ASSETS** | **$670,126** | **$685,349** | | **Total current liabilities** | $185,946 | $179,949 | | **Total liabilities** | $205,202 | $199,173 | | **Total stockholders' equity** | $464,924 | $486,176 | | **TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | **$670,126** | **$685,349** | [Consolidated Statement of Operations](index=9&type=section&id=Consolidated%20Statement%20of%20Operations) For the three months ended June 30, 2025, Amarin reported total net revenue of $72.7 million and a net loss of $14.1 million, or ($0.03) per share Consolidated Statement of Operations Data (in thousands, except per share) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | | :--- | :--- | :--- | | **Total revenue, net** | $72,741 | $67,491 | | **Gross margin** | $50,362 | $42,769 | | **Total operating expenses** | $66,347 | $43,293 | | **Operating loss** | $(15,985) | $(524) | | **Net (loss) income** | **$(14,139)** | **$1,522** | | **Basic (Loss) earnings per Share** | $(0.03) | $0.00 | [Reconciliation of Non-GAAP Financial Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) Amarin provided a reconciliation from GAAP net loss to non-GAAP net income, resulting in a non-GAAP net income of $18.0 million for Q2 2025 Reconciliation of GAAP to Non-GAAP Net Income (in thousands) | Metric | Three months ended June 30, 2025 | Three months ended June 30, 2024 | | :--- | :--- | :--- | | **Net loss for EPS - GAAP** | $(14,139) | $1,522 | | Stock-based compensation expense | $4,327 | $4,643 | | Licensing Agreement Fees | $5,038 | — | | Restructuring | $22,759 | — | | **Net income for EPS - non-GAAP** | **$17,985** | **$6,165** |

Core Insights - Amarin Corporation has established a partnership with Recordati to enhance the commercialization of VAZKEPA in Europe, which is expected to significantly increase shareholder value [2][4] - The company has initiated a global restructuring plan aimed at achieving $70 million in operating expense savings over the next 12 months [5] - Financial results for Q2 2025 show an 8% increase in total net revenue compared to Q2 2024, primarily driven by licensing and royalty revenue from the European partnership [6][9] Recent Strategic Actions - The exclusive long-term license and supply agreement with Recordati covers 59 countries in Europe, aiming to accelerate VAZKEPA's market adoption [4] - The partnership is expected to facilitate a smooth commercial transition, largely completed by the end of 2025 [4] Global Restructuring - The restructuring is a direct response to the partnership with Recordati, focusing on reducing operating expenses and right-sizing the company's operations [5] - Most of the anticipated savings will come from eliminating commercial roles in European operations [5] Q2 2025 Financial Highlights - Total net revenue for Q2 2025 was $72.7 million, an increase of $5.3 million or 8% from Q2 2024 [6][9] - Operating expenses were $43.6 million, slightly up from $43.3 million in Q2 2024, with a significant restructuring charge of $22.8 million included [6][12] - The company reported a net loss of $14.1 million for Q2 2025, compared to a net income of $1.5 million in Q2 2024 [16] Revenue Breakdown - U.S. product revenue decreased by 17% to $36.5 million, while European revenue increased by 85% to $6.6 million [8] - Licensing and royalty revenue rose by 31% to $26.1 million, primarily due to the upfront payment from the Recordati agreement [9] Cash Position - As of the end of Q2 2025, Amarin reported nearly $300 million in cash and no debt, positioning the company well for future growth [3][16]