Core Insights - Austrian Health Authorities have approved VAZKEPA® (icosapent ethyl) for national reimbursement to reduce cardiovascular event risks in eligible patients, effective April 1, 2025, marking the 10th national reimbursement approval in Europe for this product [1][4]. Group 1: Company Overview - Amarin Corporation is an innovative pharmaceutical company focused on cardiovascular disease management, with a commitment to advancing treatment options for patients worldwide [5]. - The company has offices in multiple locations, including Bridgewater, New Jersey, Dublin, Ireland, and Zug, Switzerland, and collaborates with commercial partners globally [5]. Group 2: Industry Context - Cardiovascular diseases accounted for approximately 35% of all deaths in Austria in 2023, highlighting the urgent need for effective treatment options [2]. - More than 100,000 hospitalizations in Austria in 2023 were due to cardiovascular diseases, with direct and indirect costs estimated at around 4.7 billion euros in 2015 [2]. Group 3: Reimbursement Impact - The reimbursement of VAZKEPA® is seen as a significant advancement in addressing the unmet needs of patients with established cardiovascular disease whose triglycerides remain elevated despite statin treatment [3]. - This decision is expected to alleviate the burden on the healthcare system and improve patient outcomes in secondary prevention of cardiovascular diseases [3].

Group 1 - Amarin Corporation will host a conference call on March 12, 2025, at 8:00 a.m. ET to discuss its fourth quarter and full year 2024 results [1] - The financial results will be released in the pre-market hours on the same day [1] - The call will include a Q&A session with the management team [1] Group 2 - Amarin is an innovative pharmaceutical company focused on cardiovascular disease management, with offices in multiple countries including the United States, Ireland, and Switzerland [3] - The company aims to enhance the scientific understanding of cardiovascular risks that persist beyond traditional therapies [3] Group 3 - Amarin provides various channels for investor communication, including its website and investor relations section, where material information is regularly posted [4] - The company encourages stakeholders to review the information available on these channels [4]

-- Italian Health Authorities Approve VAZKEPA® (icosapent ethyl) for National Reimbursement to Reduce Cardiovascular Risk in Eligible High-Risk Patients1 -- -- Italy is the Third EU5 Market to Grant National Reimbursement; Ninth National Reimbursement for VAZKEPA® Overall in Europe -- -- European Progress Has Advanced Patient Access: Countries That Have Provided Access to VAZKEPA Now Account for More Than 50% of the Total Established Cardiovascular Disease (eCVD) Population in Western Europe -- -- Italy Ap ...

Core Points - Amarin Corporation has appointed Peter Fishman as Chief Financial Officer, effective immediately [1] - Fishman has nearly 20 years of experience in finance, including roles in accounting, financial reporting, treasury, tax, and audit [2] - He has been with Amarin since 2019, serving as the principal financial and accounting officer since October 2024 and as Vice President & Global Controller since October 2022 [2] - Fishman holds a Bachelor of Arts in accounting and an MBA, and is a certified public accountant [3] Company Strategy - The CEO, Aaron Berg, expressed confidence in Fishman's ability to lead the company's financial and business strategy moving forward [2] - Fishman has been integral to Amarin's financing efforts and current cash management strategy [2]

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Core Viewpoint - Amarin Corporation plc reported an adjusted loss of 5 cents per share for Q3 2024, aligning with estimates, but total revenues of $42.3 million fell short of expectations and declined 36% year-over-year due to lower product revenues [1][2]. Financial Performance - The net product revenues from Vascepa, Amarin's sole marketed drug, were $41.9 million, down 36% year-over-year, with U.S. product revenues at $30.6 million, a nearly 51% decline from the previous year [3]. - Licensing and royalty revenues decreased to $0.4 million from $1.2 million in the year-ago period [4]. - Selling, general and administrative expenses were $36.9 million, down almost 18.9% year-over-year, attributed to cost optimization efforts [5]. - Research and development expenses totaled $4.5 million, down almost 11.7% year-over-year [5]. Cash Position - Amarin ended Q3 with cash and investments of $305.7 million, slightly down from $306.7 million in the previous quarter, indicating sufficient funds for ongoing operations [6]. Organizational Restructuring - In July 2023, Amarin implemented a restructuring plan aimed at strengthening its cash runway and reducing cash burn, which included workforce reductions and projected annual savings of $50 million [7]. Stock Performance - Following the earnings announcement, Amarin's shares fell 2.9% in after-hours trading, with a year-to-date decline of 30.8%, contrasting with the industry's decline of 3.2% [2].

Financial Data and Key Metrics Changes - In Q3 2024, Amarin reported total net revenue of $42.3 million, a decrease from $66.1 million in Q3 2023, with net product revenue of $41.9 million and licensing and royalty revenue of $400,000 [38] - U.S. product revenue was $30.6 million in Q3 2024, down from $62.4 million in Q3 2023, attributed to lower net selling prices due to generic competition and decreased volume from CVS's coverage changes [39] - Gross margin declined to 38% in Q3 2024 from 64% in the prior year, primarily due to reduced net selling prices in the U.S. [41] - The company reported a GAAP net loss of $25.1 million for Q3 2024, compared to a $19.3 million loss in the prior year [42] Business Line Data and Key Metrics Changes - European net product revenue increased to $4.3 million in Q3 2024, a $3.5 million increase year-over-year, driven by growth in Spain and the UK [40] - Total operating expenses in Q3 2024 were $41.4 million, a reduction of approximately $10 million compared to the prior year, due to ongoing cost optimization initiatives [42] Market Data and Key Metrics Changes - The U.S. market continues to be the main revenue source, maintaining over 50% market share despite increased generic competition [27] - In Europe, the company has launched in eight countries, representing about half of the market access opportunity, with ongoing efforts to expand access [19] Company Strategy and Development Direction - The company aims to maximize the value of VASCEPA and VAZKEPA by expanding access to at-risk patients globally, particularly in Europe where there is significant untapped potential [21][22] - Amarin is focused on executing strategies to drive access and use of its products, supported by strong scientific validation and a commitment to patient care [22][45] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing global unmet need to reduce cardiovascular disease, which remains the leading cause of death worldwide, emphasizing the importance of expanding access to VASCEPA and VAZKEPA [10][46] - The company remains committed to regaining NASDAQ compliance while focusing on operational performance and maximizing product value [47][48] Other Important Information - Amarin has secured pricing and reimbursement in Greece and Portugal, with ongoing efforts in Italy [26] - The company reported aggregate cash and investments of $306 million as of September 30, 2024, with no debt [43] Q&A Session Summary Question: Expectations for net pricing pressure for VASCEPA - Management expects rebates to continue to increase due to the competitive generic market but believes they can maintain volume and compete profitably [51] Question: Additional trials or data points for reimbursement coverage in the EU and China - Ongoing subgroup analyses in high-risk patient populations may support reimbursement efforts, with a focus on acute coronary syndrome patients [53][55] Question: Momentum in revenue from the rest of the world - Growth is driven by early launches and partnerships in various regions, with positive signs from Australia and China [60] Question: Growth dynamics in Europe - Encouraging growth in the UK and Spain attributed to strategic changes and effective execution [61] Question: Future of net pricing for VASCEPA in the U.S. - Pricing pressure is expected to continue due to the generic environment and a shift towards Medicare Part D [63] Question: Status of share repurchase program and business development opportunities - No shares have been repurchased yet; the focus remains on executing with VAZKEPA and VASCEPA before considering additional assets [68][71]

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Regulatory Approvals and Market Access - VASCEPA has received FDA approval for the MARINE indication to reduce triglyceride levels in patients with severe hypertriglyceridemia and for the REDUCE-IT indication to reduce cardiovascular risk in high-risk patients[76]. - The company has filed 15 dossiers for market access in European countries, with national reimbursement being a prerequisite for commercial success[83]. - VAZKEPA has received national reimbursement and launched in several European countries, including England/Wales in October 2022 and Spain in September 2023[84]. - Regulatory approval for VASCEPA in Mainland China was received for both the MARINE and REDUCE-IT indications, with launches expected in 2024[86]. - VASCEPA received approval from the NMPA in Mainland China under the MARINE indication on June 1, 2023, and was launched commercially in October 2023[88]. - The company entered into agreements to commercialize VASCEPA in Australia, New Zealand, South Korea, and several countries in Southeast Asia[91]. Financial Performance - Total revenue decreased to $42.3 million for the three months ended September 30, 2024, down 36% from $66.1 million in the same period of 2023[105]. - U.S. product revenue fell to $30.6 million, a 51% decrease compared to $62.4 million in the prior year, primarily due to generic competition and loss of a major pharmacy benefit manager[106]. - Total revenue for the nine months ended September 30, 2024, was $166.3 million, a decrease of 28% from $232.2 million in the same period of 2023[116]. - Product revenue decreased to $144.5 million for the nine months ended September 30, 2024, down 33% from $214.7 million in 2023, primarily due to a 41% decrease in VASCEPA sales in the U.S.[117]. - U.S. product revenue was $122.5 million for the nine months ended September 30, 2024, compared to $209.0 million in 2023, attributed to a decline in net selling price and volume loss from a major national PBM.[117]. - Licensing and royalty revenue decreased by 61% to $0.4 million, down from $1.2 million, due to the recognition of prior milestone payments[107]. - Licensing and royalty revenue increased by 25% to $21.8 million for the nine months ended September 30, 2024, from $17.5 million in 2023, driven by milestone payments related to VASCEPA licensing agreements.[118]. Cost Management and Restructuring - The Organizational Restructuring Program resulted in a 30% reduction in the total employee base and an annual operating cost reduction of $50 million[78]. - The company incurred restructuring expenses related to its July 2023 ORP, including severance pay and stock-based compensation[99]. - Selling, general and administrative expenses decreased by 19% to $36.9 million, attributed to reduced promotional costs and a reduction in workforce[109]. - Selling, general and administrative expenses decreased by 26% to $115.3 million for the nine months ended September 30, 2024, down from $156.0 million in 2023, due to cost reduction initiatives.[122]. - Cost of goods sold decreased by 28% to $26.0 million, resulting in a gross margin of 38%, down from 44% in the previous year[108]. - Cost of goods sold decreased by 33% to $75.4 million for the nine months ended September 30, 2024, from $111.8 million in 2023, reflecting a reduction in restructuring charges and improved supply chain management.[121]. Leadership Changes - A new CEO, Aaron Berg, was appointed effective June 4, 2024, following the resignation of Patrick Holt[77]. Research and Development - The REDUCE-IT study has led to updates in over 40 clinical treatment guidelines recommending the use of icosapent ethyl in at-risk patients[92]. - The company anticipates continuing to publish additional details of the REDUCE-IT study to address scientific interest beyond the primary results[92]. - Research and development expenses decreased by 11% to $4.5 million, reflecting ongoing evaluations of spending commitments[112]. - Research and development expenses decreased by 9% to $14.9 million for the nine months ended September 30, 2024, compared to $16.4 million in 2023, reflecting a strategic focus on essential projects.[124]. Cash Flow and Investments - As of September 30, 2024, the company had cash and cash equivalents of $157.5 million and short-term investments of $148.8 million, with no indebtedness.[129]. - Net cash used in operating activities increased to $(17.7) million for the nine months ended September 30, 2024, compared to $7.5 million provided in the same period in 2023[130]. - Net cash used in investing activities decreased to $(23.1) million, with purchases of $208.9 million offset by proceeds from the maturity of $185.8 million in investment grade interest-bearing instruments[130]. - Financing activities showed a net cash outflow of $(1.5) million, primarily due to decreased proceeds from stock option exercises[130]. - Cash and cash equivalents as of September 30, 2024, were $156.9 million, with short-term investments of $148.8 million, expected to fund operations for at least one year[130]. Market Challenges - The company has faced challenges with generic competition, with several companies receiving FDA approval for generic versions of icosapent ethyl[80]. - The overall icosapent ethyl market in the U.S. saw a 1% decline, with the company's market share dropping to approximately 50% from 58% year-over-year[106]. - The company anticipates variable quarterly net cash outflows due to timing of purchases and competition in the market[130].

Exhibit 99.1 Amarin Reports Third Quarter 2024 Financial Results and Provides Business Update -- Strong Cash Position of $306 Million; 9 th Consecutive Quarter of Positive or Neutral Cash Balance -- -- Total Net Revenue of $42 Million Represents Continued Source of Cash from the U.S., RoW Partnerships and Early Phases of European Launches -- -- Positive European Momentum Continues with Progress from Pricing & Reimbursement Efforts and Incremental Revenue Growth Driven Primarily by Spain and the UK -- -- Com ...