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]

Core Viewpoint - Investors are expected to focus on the sales performance of Amarin Corporation's sole marketed drug, Vascepa/Vazkepa, during the upcoming Q2 2025 results announcement, with a consensus estimate of $45.2 million in revenue and a loss of 60 cents per share [1][5]. Group 1: Sales Performance - Vascepa is approved in the U.S. for treating severe hypertriglyceridemia and reducing cardiovascular event risks, and in the EU as Vazkepa for the same indications [2]. - U.S. sales of Vascepa are likely to have declined in Q2 2025 due to increasing generic competition, while EU sales of Vazkepa are expected to have increased significantly, particularly in the UK and Spain [3][5]. Group 2: Cost Management and Financial Position - Amarin has restructured its commercial infrastructure in Europe to align with pricing and reimbursement, which may have contributed to a decline in operating expenses due to cost optimization efforts [4][5]. - The company signed a long-term license and supply agreement with Recordati for Vazkepa across 59 EU countries, which includes an upfront payment of $25 million and potential milestone payments of up to $150 million, likely enhancing Amarin's cash position and projected to deliver approximately $70 million in cost savings over the next year [6][7]. Group 3: Earnings Surprise History - Amarin has a mixed earnings surprise history, beating estimates in two of the last four quarters, meeting once, and missing once, with an average surprise of 29.11% [8]. - The company currently has an Earnings ESP of 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate are at a loss of 60 cents per share, with a Zacks Rank of 1 (Strong Buy) [10].

Core Points - Amarin Corporation plc will host a conference call on July 30, 2025, at 8:00 a.m. ET to discuss its second quarter 2025 results and recent strategic steps [1][2] - The financial results will be released in the pre-market hours on the same day [2] Conference Call and Webcast Information - Access to the live call can be found on the investor relations section of Amarin's website, with specific dial-in numbers provided for both the United States and international participants [3] - A replay of the call will be available shortly after the live event through the company's website [3] Company Overview - Amarin is an innovative pharmaceutical company focused on cardiovascular disease management, with offices in multiple countries including the United States, Ireland, and Switzerland [4] - The company aims to enhance the scientific understanding of cardiovascular risk that persists beyond traditional therapies [4] Investor Communication - Amarin utilizes its website and investor relations section to communicate with investors and the public, providing access to various materials including presentations, SEC filings, and press releases [5] - The company encourages regular review of the information posted on these channels, which may include updates on social media [5]

Market Overview - The three major U.S. stock indexes closed lower last week, with the Dow Jones Industrial Average down 1%, the S&P 500 down 0.3%, and the Nasdaq Composite down 0.1% [1] - The market pullback was influenced by renewed U.S. tariff threats, particularly higher levies on Canada and the European Union, raising concerns about economic growth and inflation [2] Earnings Performance - Despite tariff concerns, many investors focused on strong earnings reports from airlines and consumer stocks, indicating a resilient economy [2] - The second-quarter earnings season is critical for assessing the impact of tariffs on corporate profits [3] Zacks Research Performance - Mogo Inc. shares surged 81.8% since being upgraded to Zacks Rank 2 (Buy) on May 8, significantly outperforming the S&P 500's 11.1% increase [4] - ATI Inc. also saw a 32.6% return since its upgrade to Zacks Rank 2 on May 6, compared to the S&P 500's 10.7% increase [5] - A hypothetical portfolio of Zacks Rank 1 (Strong Buy) stocks returned +6.51% in May 2025, outperforming the S&P 500's +4.47% [5] Zacks Recommendations - Amarin Corporation and European Wax Center shares increased by 62.6% and 49.9%, respectively, after being upgraded to Outperform on May 12, against the S&P 500's 10.5% rise [8] - The Zacks Focus List portfolio returned 8.84% in 2025 (through June 30) compared to the S&P 500's +6.21% [12] Portfolio Performance - The Zacks Earnings Certain Admiral Portfolio (ECAP) returned +3.20% in Q1 2025, outperforming the S&P 500's -4.30% decline [16] - The Zacks Earnings Certain Dividend Portfolio (ECDP) returned +5.74% in Q1 2025, compared to the S&P 500's -2.41% [20] - The Zacks Top 10 Stocks portfolio delivered +11.8% year-to-date through June 2025, outperforming the S&P 500's +6.2% [22] Long-term Performance - Since 2004, the Zacks Focus List portfolio has produced an annualized return of +11.60%, compared to +10.22% for the S&P 500 [15] - The Top 10 portfolio has generated a cumulative return of +2,246.8% since 2012, significantly outperforming the S&P 500's +502.3% [24]

Strategic Partnerships & Financial Restructuring - Amarin has entered into an exclusive license and supply agreement with Recordati to commercialize VAZKEPA in 59 countries, primarily in Europe[13] - The Recordati agreement includes $25 million in upfront cash[9] and up to $150 million in milestone payments based on net sales levels[9] - Global restructuring is expected to generate approximately $70 million in cost savings over the next 12 months[6, 16, 24] VAZKEPA/VAZKEPA Market & Growth - VAZKEPA has CVRR indication regulatory approvals in 49 global markets[7] - Demand for VASCEPA/VAZKEPA has grown by 77% in aggregate, comparing Q1 2025 to Q1 2024[22] - The company maintains over 40% share of the IPE market in the U S [21] US Market & Global Expansion - The refined commercial strategy in the U S focuses on payer coverage post-loss of exclusivity[21] - Partnerships in Rest of World are focused on maximizing patient access to VASCEPA globally, with commercialization across 11 countries and regulatory submissions pending in 8 additional markets[23]

Core Insights - Amarin's shares surged 27.3% following the announcement of an exclusive long-term licensing agreement with Recordati to commercialize its drug Vazkepa across 59 EU countries [1][6]. Licensing Agreement Details - The agreement grants Recordati exclusive rights to market Vazkepa in Europe, with Amarin receiving an upfront payment of $25 million and potential milestone payments of up to $150 million based on sales targets [4][6]. - Amarin expects to achieve approximately $70 million in cost savings over the next 12 months as part of a strategy to enhance growth and reduce operational costs [3][7]. Product and Market Context - Vazkepa is approved in the EU for treating severe hypertriglyceridemia and reducing cardiovascular event risks, similar to its approval in the U.S. under the name Vascepa [2]. - The drug is protected by patents until 2039 in the EU, which supports its market expansion efforts [3]. Financial Position and Growth Strategy - The licensing deal strengthens Amarin's cash position, with nearly $300 million in cash and no debt as of March-end [7]. - The partnership with Recordati is expected to enhance Amarin's financial strength and accelerate its path to positive cash flow through new revenue opportunities [7][8]. Industry Position - Amarin's stock has increased by 65.3% year-to-date, contrasting with a 4.2% decline in the industry [5]. - Recordati's established cardiovascular portfolio, which includes treatments for hypertension and heart failure, positions it well to expand the reach of Vazkepa [8].

Company Overview - Amarin (AMRN) shares increased by 27.3% to close at $16.04, with notable trading volume compared to typical sessions, and a 13.4% gain over the past four weeks [1][2] Recent Developments - Amarin licensed EU rights to its drug Vazkepa to Recordati, an Italy-based company, for $25 million upfront, with potential milestones of up to $150 million and ongoing royalties, significantly expanding Vazkepa's market reach and reducing EU-related costs by an expected $70 million over the next 12 months [2] Financial Performance - The company is expected to report a quarterly loss of $0.60 per share, a year-over-year change of -400%, with revenues projected at $45.19 million, down 33% from the previous year [3] - The consensus EPS estimate for the quarter has been revised 22.4% higher over the last 30 days, indicating a positive trend that may lead to price appreciation [4] Industry Context - Amarin is part of the Zacks Medical - Biomedical and Genetics industry, which includes other companies like MannKind (MNKD), which saw a 5.1% increase in its last trading session [5] - MannKind's consensus EPS estimate has remained unchanged at $0.04, reflecting a -20% change from the previous year, and it currently holds a Zacks Rank of 3 (Hold) [6]