DUBLIN, Ireland and BRIDGEWATER, N.J., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today announced that the Company's Chairman of the Board, Odysseas Kostas, M.D., and President & CEO, Patrick Holt, issued the following letter to Amarin shareholders: Dear Fellow Amarin Shareholders, 2023 was an important year for Amarin, marked by necessary transition and change. With a new board focused on shareholders, we undertook significant actions to strengthen the Company. We restructured t ...

sasirin pamai/iStock via Getty Images Amarin (NASDAQ:AMRN) isn't dead, after all. Sarissa seems to be doing what they promised to do - turning it around and giving it new life. I wasn't a believer before, but I could well become one soon. Things are looking that good. The Amarin story, very briefly, is this: fish oil has been used for ages as a health supplement. Fish oil contains omega-3 fatty acids, which has been assumed to be responsible for those health benefits. Omega-3 fatty acids are essential p ...

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Amarin (AMRN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Amarin is one of 1077 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of ...

Shares of Amarin Corporation plc (AMRN) surged 32.8% on Jan 10 after the company announced robust preliminary results for the fourth quarter and full-year 2023. The company also plans to initiate a share repurchase program of up to $50 million.Amarin’s top line currently comprises product revenues from Vascepa/Vazkepa (Vascepa’s brand name in Europe), as well as licensing and royalty revenues.Vascepa (icosapent ethyl) is approved as an adjunct to diet for treating severe hypertriglyceridemia or elevated tri ...

Core Insights - Amarin's shares surged by 32.9% following the announcement of strong preliminary fiscal fourth-quarter results, a new share-repurchase authorization, and positive guidance for 2024 [1] Financial Performance - For the fourth quarter of 2023, Amarin expects revenue between $72 million and $74 million, significantly exceeding analysts' consensus estimates of approximately $62 million [2] - Full-year 2023 revenue is projected to be between $304 million and $306 million, compared to estimates of $294 million [2] - The company ended the year with approximately $321 million in cash and investments, achieving a positive cash flow of $10 million for the year, marking the sixth consecutive quarter of cash-positive or cash-neutral operations [2] Future Plans - Amarin announced a new conditional share repurchase agreement with Cantor Fitzgerald for up to $50 million in shares, pending shareholder and U.K. High Court approvals, with expected completion around mid-2024 [3] - The company aims to reduce operating expenses further in 2024, targeting $40 million in annual savings from a restructuring plan initiated in July 2023, in response to increasing competition for its cholesterol drug Vascepa [3] - Amarin plans to focus on preserving cash to invest in value-adding opportunities, particularly in the European market, where further efforts are needed [3]

Amarin Corporation plc (NASDAQ:AMRN) 42nd Annual J.P. Morgan Healthcare Conference January 10, 2024 4:30 PM ET Company Participants Pat Holt - President & CEO Conference Call Participants Jess Fye - JPMorgan Jess Fye Great. Good afternoon, everyone. Welcome. My name is Jess Fye. I'm a Senior Biotech Analyst at JPMorgan, and we're continuing the 42nd Annual Healthcare Conference today with Amarin. I'm joined up here by the company's President and CEO, Pat Holt. He's going to give a presentation on the busine ...

Amarin Corporation plc (NASDAQ:AMRN) 42nd Annual J.P. Morgan Healthcare Conference January 10, 2024 4:30 PM ET Company Participants Pat Holt - President & CEO Conference Call Participants Jess Fye - JPMorgan Jess Fye Great. Good afternoon, everyone. Welcome. My name is Jess Fye. I'm a Senior Biotech Analyst at JPMorgan, and we're continuing the 42nd Annual Healthcare Conference today with Amarin. I'm joined up here by the company's President and CEO, Pat Holt. He's going to give a presentation on the busine ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Core Insights - Amarin Corporation reported preliminary unaudited total revenues for Q4 2023 between $72 million and $74 million, with full-year revenues estimated between $304 million and $306 million [2][3] - The company ended 2023 with a cash position of approximately $321 million and achieved a positive cash flow of around $10 million for the year [2][3] - Key priorities for 2024 include accelerating revenue in key European markets, maintaining IPE market leadership in the U.S., and maximizing patient uptake in the Rest of World (RoW) through partnerships [1][3] Financial Performance - Q4 2023 revenue breakdown: Europe approximately $1.5 million, U.S. $64 million to $65 million, and RoW $7 million to $8 million [2] - The company has reported six consecutive quarters of cash positive or neutral operations [2] Strategic Initiatives - Amarin plans to initiate a share repurchase program of up to $50 million, pending shareholder and UK High Court approval [1][7] - The company aims to focus on opportunities to accelerate revenue in Europe, particularly in Spain and the UK, and to advance pricing and reimbursement processes in Italy, France, and Germany [4] Market Position - In the U.S., Amarin retained IPE market share leadership at 57% despite increased generic competition [5] - The company secured five regulatory approvals in RoW, including China, and entered into marketing agreements in key regions [6] Future Outlook - Amarin is on track to deliver $40 million in annual savings from a reduction in force announced in July 2023 [9] - The company anticipates that its current cash and investments are adequate to support ongoing operations, including the share repurchase program [9]

Amarin Corporation plc (NASDAQ:AMRN) Q3 2023 Earnings Call Transcript November 1, 2023 8:00 AM ET Company Participants Jordan Zwick - SVP, Business Development & IR Patrick Holt - President & CEO Tom Reilly - CFO Conference Call Participants Louise Chen - Cantor Roanna Ruiz - Leerink Paul Choi - Goldman Sachs Operator Welcome to Amarin Corporation's conference call to discuss its third quarter 2023 financial results and business updates. I would now like to turn the conference call over to Jordan Zwick, Sen ...