Core Viewpoint - Amarin (AMRN) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. Amarin's Earnings Outlook - For the fiscal year ending December 2025, Amarin is expected to earn -$2.50 per share, unchanged from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Amarin has increased by 57%, reflecting a positive trend in earnings estimates [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a "Strong Buy" rating, indicating superior earnings estimate revisions [9][10].

Core Insights - Three stocks are highlighted with strong momentum characteristics and a buy rank, including Amarin Corporation, Comfort Systems USA, and UiPath Inc. [1][2][3] Company Summaries - **Amarin Corporation plc (AMRN)**: - Zacks Rank 1 - Current year earnings estimate increased by 50% over the last 60 days - Shares gained 31.1% over the last three months, outperforming the S&P 500's 7.7% increase - Momentum Score of A [1] - **Comfort Systems USA, Inc. (FIX)**: - Zacks Rank 1 - Current year earnings estimate increased by 5.9% over the last 60 days - Shares gained 54.4% over the last three months, significantly outperforming the S&P 500's 7.7% increase - Momentum Score of B [2] - **UiPath Inc. (PATH)**: - Zacks Rank 1 - Current year earnings estimate increased by 3.8% over the last 60 days - Shares gained 11.7% over the past three months, also outperforming the S&P 500's 7.7% increase - Momentum Score of A [3]

Core Insights - Amarin Corporation reported a narrower loss of 4 cents per share for Q1 2025, significantly better than the Zacks Consensus Estimate of a loss of $1.12 [1] - Total revenues for Q1 2025 were $42 million, exceeding the Zacks Consensus Estimate of $40 million, but representing a decline of approximately 26% year-over-year due to lower product revenues [2] - The company's stock has increased by 5% year-to-date, contrasting with an 8% decline in the industry [3] Financial Performance - Net product revenues from Vascepa, Amarin's sole marketed drug, were $41 million in Q1 2025, down 25.7% year-over-year [4] - U.S. product revenues from Vascepa were $35.7 million, a decline of nearly 25.8% from the previous year, although it surpassed the model estimate of $22.1 million [4] - European product revenues from Vazkepa totaled $5.4 million, up from $1.9 million in the year-ago quarter, while revenues from the rest of the world fell to $0.1 million from $5.2 million [5] Expenses and Cash Position - Selling, general and administrative expenses were $36.6 million, down almost 8.3% year-over-year due to cost optimization efforts [6] - Research and development expenses totaled $5.3 million, a decrease of around 5.4% year-over-year [6] - Amarin ended Q1 2025 with cash and investments of $281.8 million, down from $294.2 million at the end of December 2024 [8] Corporate Actions - Amarin initiated a ratio change for its American Depositary Shares (ADS) effective April 11, 2025, changing from one ADS representing one ordinary share to one ADS representing 20 ordinary shares, regaining compliance with Nasdaq listing standards [9]

Financial Data and Key Metrics Changes - In Q1 2025, total net revenue was $42 million, down from $56.5 million in Q1 2024, with U.S. product revenue declining to $35.7 million from $48.1 million due to lower net selling prices and decreased volume [23][24] - European product revenue increased to $5.4 million, a $3.5 million increase year-over-year, driven by growth in Spain, the UK, and Central Eastern Europe [25] - Gross margin on product revenue improved to 59% from 55% in the prior year, attributed to changes in customer mix [27] Business Line Data and Key Metrics Changes - Vascepa revenues in Europe showed 16% sequential growth, reaching $5.4 million, with significant progress in pricing and reimbursement efforts in Italy and Austria [12][13] - The U.S. business continues to generate cash despite the introduction of generics, retaining major exclusive accounts from Q4 2024 into Q1 2025 [14] - Rest of the world revenues were minimal in Q1 2025, but there is optimism for growth as many markets are in early commercialization stages [26][38] Market Data and Key Metrics Changes - The company expanded its presence from 7 to 21 countries where Vascepa is reimbursed and launched since Q1 2023, indicating a broader patient impact [8] - In China, efforts are focused on promoting Vascepa for at-risk patients, with a significant market opportunity due to high cardiovascular disease rates [17] - In Australia, Vascepa was included in new clinical guidelines, reinforcing its value in managing cardiovascular risk [18] Company Strategy and Development Direction - The company is focusing on managed care access in the U.S. and targeting high-risk patient groups in Europe to maximize branded revenue [5][6] - Strategic partnerships in Southeast Asia, MENA, and Australia are being pursued to enhance global presence and revenue diversification [6][19] - The company aims to reduce operating costs while investing in growth opportunities to maximize shareholder value [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for Vascepa, emphasizing the need to address cardiovascular disease, the leading global killer [33] - The company is committed to generating new data to differentiate Vascepa from generics and emerging therapies in the lipid management landscape [44][46] - Management acknowledged the challenges posed by the generic market but remains focused on leveraging the unique benefits of Vascepa [27][46] Other Important Information - The company completed a one-for-20 ADS ratio change to preserve its NASDAQ listing, regaining full compliance [20] - As of March 31, 2025, the company reported cash and investments of $282 million with no debt, maintaining a solid financial base [28][29] Q&A Session Summary Question: What drove the decline in rest of world revenues and should we expect a bounce back? - Management acknowledged the limited revenues but expressed optimism about growth, noting that the early stages of commercialization can lead to variable quarterly revenues [38][40] Question: What additional real-world evidence or clinical development plans do you have to strengthen differentiation against generics? - Management highlighted ongoing efforts to generate new data to differentiate Vascepa, emphasizing its unique benefits and the importance of addressing residual cardiovascular risk [44][46]

Financial Data and Key Metrics Changes - In Q1 2025, total net revenue was $42 million, down from $56.5 million in Q1 2024, with net product revenue of $41 million compared to $35.7 million in the prior year [23][24] - The net loss for Q1 2025 was $15.7 million, compared to a net loss of $10 million in the same period last year, primarily due to the U.S. generic market impact [27][28] - Gross margin on product revenue improved to 59% from 55% in the prior year, driven by changes in customer mix [26] Business Line Data and Key Metrics Changes - European product revenue reached $5.4 million in Q1 2025, representing a $3.5 million increase year-over-year, driven by growth in Spain, the UK, and Central Eastern Europe [25][12] - U.S. product revenue declined to $35.7 million from $48.1 million in Q1 2024, attributed to lower net selling prices and decreased volume due to generic competition [24][14] - Minimal net product revenue was recorded from partnerships in the rest of the world, down from $5.2 million in Q1 2024, but there is sequential growth in market demand [26] Market Data and Key Metrics Changes - The number of countries where Vascepa is reimbursed increased from 7 in 2023 to 21 in Q1 2025, indicating broader market access [7] - In Italy, access has been secured in 14 of 21 local regions, covering over 85% of the eligible market [12] - In China, efforts are focused on the self-pay market, with plans for inclusion in the National Retail Drug Listing for 2026, highlighting the significant market opportunity [16] Company Strategy and Development Direction - The company is focusing on managed care access in the U.S. and targeting high-risk patient groups in Europe to maximize branded revenue [5] - Strategic partnerships in Southeast Asia, MENA, and Australia are being pursued to expand the global presence of Vascepa [6] - The company aims to reduce operating costs while improving cash management and supply position to strengthen its foundation for future growth [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in Europe and the rest of the world, despite early-stage commercialization challenges [9][40] - The company is committed to advancing patient treatment and reducing cardiovascular risk globally while delivering value to shareholders [10][22] - Management acknowledged the need for continued efforts to unlock the full potential of Vascepa in various markets [22] Other Important Information - The company completed a one-for-20 ADS ratio change to preserve its NASDAQ listing, regaining full compliance [20] - As of March 31, 2025, the company had cash and investments totaling $282 million with no debt, maintaining a solid financial base [28][29] Q&A Session Summary Question: What drove the decline in rest of world revenues and should we expect a bounce back? - Management noted that revenues were limited due to the early stages of commercialization and that growth is expected as market demand increases [37][40] Question: What additional real-world evidence or clinical development plans are in place to strengthen differentiation against generics? - Management highlighted ongoing efforts to generate new data to differentiate Vascepa, emphasizing its unique benefits in cardiovascular risk reduction [42][46]

Financial Performance - Total revenue for Q1 2025 was $42.0 million[14, 21] - U S revenue was $35.7 million, a ~26% year-over-year reduction[21] - Europe revenue was $5.4 million, a ~284% year-over-year increase[14, 21] - Operating expenses for Q1 2025 were $41.9 million, an 8% reduction year-over-year[14, 19] - The company maintained a strong cash position with $281.8 million and no debt[14, 24] Business Updates - Achieved sequential growth in in-market demand across all European markets where VAZKEPA was launched, particularly in Spain, the UK, and CEE[13] - Secured pricing and reimbursement in Austria and continued progress in other EU markets[13] - CSL's efforts led to VAZKEPA's inclusion in the National Heart Foundation/Cardiac Society Acute Coronary Syndrome guidelines in Australia[13] - Edding continued CVRR launch in the private pay market in China, working towards National Reimbursement Drug List (NRDL) review for 2026[13] Strategic Priorities - Drive growth in access and revenue in Europe and Rest of World markets[30] - Drive efficient VASCEPA U S revenue generation[30] - Support research that reinforces VASCEPA science and therapeutic value[30] - Maintain fiscal and operational discipline while pursuing all avenues to maximize shareholder value[30]

[PART I – Financial Information](index=3&type=section&id=PART%20I%20%E2%80%93%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's unaudited financial statements for Q1 2025 reflect decreased assets and revenue, a wider net loss, and continued cash usage in operations [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $655.7 million, driven by reductions in cash, investments, receivables, and inventory Condensed Consolidated Balance Sheets (in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $573,061 | $595,399 | | **TOTAL ASSETS** | **$655,677** | **$685,349** | | **Total current liabilities** | $162,408 | $179,949 | | **Total liabilities** | $181,990 | $199,173 | | **Total stockholders' equity** | $473,687 | $486,176 | | **TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | **$655,677** | **$685,349** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net revenue for Q1 2025 declined to $42.0 million, resulting in an increased operating loss of $16.8 million and a net loss of $15.7 million Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | | Three months ended March 31, 2025 | Three months ended March 31, 2024 | | :--- | :--- | :--- | | **Total revenue, net** | **$42,017** | **$56,519** | | Gross margin | $25,130 | $31,904 | | Total operating expenses | $41,885 | $45,487 | | **Operating loss** | **$(16,755)** | **$(13,583)** | | **Net loss** | **$(15,697)** | **$(9,953)** | | **Basic and Diluted Loss per share** | **$(0.04)** | **$(0.02)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $12.5 million, while the end-of-period cash balance decreased significantly year-over-year to $119.8 million Condensed Consolidated Statements of Cash Flows (in thousands) | | Three months ended March 31, 2025 | Three months ended March 31, 2024 | | :--- | :--- | :--- | | **Net cash used in operating activities** | **$(12,459)** | **$(12,601)** | | **Net cash provided by investing activities** | **$12,064** | **$28,719** | | **Net cash used in financing activities** | **$(1,119)** | **$(1,426)** | | Net (decrease) increase in cash | $(1,514) | $14,692 | | **Cash, cash equivalents and restricted cash, end of period** | **$119,824** | **$214,469** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes disclose significant U.S. generic competition, high customer concentration, ongoing legal proceedings, and future purchase obligations - The company faces **significant competition in the U.S.** from multiple generic versions of icosapent ethyl following an adverse patent ruling in March 2020[21](index=21&type=chunk) - **Three major customers accounted for 91%** of gross product sales in Q1 2025, indicating significant customer concentration[46](index=46&type=chunk) - Amarin is involved in **multiple legal proceedings**, including antitrust class action lawsuits and a DOJ investigation into its promotional programs[71](index=71&type=chunk)[72](index=72&type=chunk)[74](index=74&type=chunk) - The company has **$61.2 million in future contractual purchase obligations**, with an additional **$152.8 million contingent** on European regulatory and pricing approvals[83](index=83&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 26% revenue decline to U.S. generic competition, while highlighting European growth, improved gross margin, and sufficient liquidity [Overview](index=41&type=section&id=Overview) The company's strategy focuses on expanding European commercialization and international partnerships to offset significant generic competition in the U.S - Multiple generic versions of icosapent ethyl have entered the U.S. market following a **2020 court ruling that invalidated several key patents**[146](index=146&type=chunk)[147](index=147&type=chunk) - The company is expanding its global footprint through **partnerships with Edding in China, HLS in Canada, and CSL Seqirus in Australia/New Zealand**[160](index=160&type=chunk)[162](index=162&type=chunk) European Commercial Launch Status | Country | National Reimbursement | Product Availability | Launch Date | | :--- | :--- | :--- | :--- | | Sweden | March 2022 | March 2022 | March 2022 | | England/Wales | July 2022 | October 2022 | October 2022 | | Spain | July 2023 | September 2023 | September 2023 | | Netherlands | August 2023 | September 2023 | September 2023 | | Italy | December 2024 | December 2024 | January 2025 | [Results of Operations](index=51&type=section&id=Results%20of%20Operations) Q1 2025 revenue fell 26% to $42.0 million, driven by a sharp decline in U.S. sales that was partially offset by strong European growth - The decrease in U.S. revenue was driven by **lower net selling prices and reduced volume** due to generic competition and loss of exclusive PBM coverage[184](index=184&type=chunk)[185](index=185&type=chunk) - The company's share of the U.S. icosapent ethyl market **decreased from approximately 56% in Q1 2024 to 42% in Q1 2025**[186](index=186&type=chunk) - **Gross margin on product sales increased to 59%** in Q1 2025 from 55% in Q1 2024, primarily due to a change in customer mix[193](index=193&type=chunk) Revenue Comparison (in millions) | Revenue Type | Q1 2025 | Q1 2024 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | U.S. Product Revenue | $35.7 | $48.1 | $(12.4) | -26% | | Europe Product Revenue | $5.4 | $1.9 | $3.5 | +184% | | RoW Product Revenue | ~$0.0 | $5.2 | $(5.2) | -100% | | Licensing & Royalty | $1.0 | $1.4 | $(0.4) | -28% | | **Total Revenue, net** | **$42.0** | **$56.5** | **$(14.5)** | **-26%** | [Liquidity and Capital Resources](index=56&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains $282.1 million in total liquidity with no debt and believes its capital is sufficient to fund operations for at least one year - Management has concluded that its **cash and investments are adequate to support continued operations** for at least one year from the financial statement issuance date[208](index=208&type=chunk) - A **share repurchase program of up to $50.0 million** was approved in May 2024, but no repurchases have commenced to date[206](index=206&type=chunk) Key Liquidity Data (as of March 31, 2025) | Metric | Amount (in millions) | | :--- | :--- | | Cash, cash equivalents and restricted cash | $119.8 | | Short-term investments | $162.3 | | **Aggregate Liquidity** | **$282.1** | | Indebtedness | $0 | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) There have been no material changes to the company's market risk disclosures since its 2024 Annual Report - There have been **no material changes** with respect to market risk disclosures from the company's 2024 Annual Report[210](index=210&type=chunk) [Item 4. Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of the end of the quarter - The principal executive and financial officers concluded that as of March 31, 2025, the company's **disclosure controls and procedures were effective**[213](index=213&type=chunk) - **No material changes** occurred during the quarter that are reasonably likely to materially affect the company's internal control over financial reporting[214](index=214&type=chunk) [PART II – Other Information](index=58&type=section&id=PART%20II%20%E2%80%93%20Other%20Information) [Item 1. Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) This section incorporates by reference the detailed discussion of legal matters found in Note 5 of the financial statements - Information regarding legal proceedings is detailed in **Note 5 – Commitments and Contingencies** and is incorporated by reference into this section[216](index=216&type=chunk) [Item 1A. Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) Key risks include potential Nasdaq delisting due to minimum bid price requirements and adverse effects from global trade sanctions - A key risk is the **potential delisting of the company's ADSs from Nasdaq** if the $1.00 minimum bid price is not maintained[219](index=219&type=chunk) - The company's business may be **adversely affected by tariffs, trade sanctions, or similar government actions**[221](index=221&type=chunk)[222](index=222&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=60&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company withheld 90,267 ADSs during the quarter to satisfy employee tax obligations related to equity awards Issuer Purchases of Equity Securities (Q1 2025) | Period | Total Number of ADSs Purchased | Average Price Paid per ADS | | :--- | :--- | :--- | | January 1 - 31, 2025 | 87,233 | $12.40 | | February 1 - 28, 2025 | 872 | $12.40 | | March 1 - 31, 2025 | 2,162 | $12.40 | | **Total** | **90,267** | **$12.40** | [Item 5. Other Information](index=60&type=section&id=Item%205.%20Other%20Information) No officers or directors adopted, modified, or terminated Rule 10b5-1 trading arrangements during the first quarter of 2025 - **No officers or directors engaged in the adoption, modification, or termination** of Rule 10b5-1 or non-Rule 10b5-1 trading arrangements in Q1 2025[224](index=224&type=chunk) [Item 6. Exhibits](index=61&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including Sarbanes-Oxley certifications and an amended Depositary Agreement - Exhibits filed with the report include **Sarbanes-Oxley Act certifications** (31.1, 31.2, 32.1) and an amendment to the Depositary Agreement (4.1)[227](index=227&type=chunk)

Exhibit 99.1 Amarin Reports First Quarter 2025 Financial Results Europe • The Company generated revenue of $35.7 million from branded VASCEPA despite numerous generic versions of the product currently available. The U.S. business remains profitable and continues to generate cash. • The Company retained all major exclusive accounts through the first quarter, which forms the basis for a majority of U.S. product sales and margin. • The Company has prepared a plan for an authorized generic (AG) version of VASCE ...

Core Insights - Amarin Corporation reported a 26% decrease in total net revenue for Q1 2025, amounting to $42.0 million compared to $56.5 million in Q1 2024, primarily due to lower net selling prices and reduced volume amid U.S. generic competition [6][8][19] - The company continues to focus on maximizing the global value of its products VASCEPA and VAZKEPA, with strategic initiatives aimed at enhancing revenue streams and managing operating expenses [2][3] - Amarin regained compliance with Nasdaq listing standards following a 1-for-20 ADS ratio change, which was completed on April 11, 2025 [13][14] Financial Performance - Total net revenue for Q1 2025 was $42.0 million, a decrease of 26% from $56.5 million in Q1 2024 [6] - Net product revenue for Q1 2025 was $41.0 million, down from $55.2 million in the same period of 2024 [6][19] - Operating expenses decreased by 8% to $41.9 million in Q1 2025 from $45.5 million in Q1 2024 [6][10] - The company reported a net loss of $15.7 million for Q1 2025, compared to a net loss of $10.0 million in Q1 2024 [11][32] Market Performance - In the U.S., the company generated $35.7 million from branded VASCEPA, despite competition from generics [7][19] - In Europe, VAZKEPA's in-market demand grew 16% sequentially quarter over quarter, with significant contributions from Spain, the UK, and Central Eastern European markets [7] - In Italy, patient access was secured in 14 of 21 regions, representing over 85% of the eligible population [7] - In China, the partner Edding is advancing commercialization efforts, targeting top private hospitals and planning for National Reimbursement Drug Listing submission in 2026 [7] Strategic Initiatives - The company is focused on capitalizing on opportunities in Europe and efficiently generating revenue in the U.S. and Rest of World markets while managing operating expenses [2][3] - Amarin is preparing to introduce an authorized generic version of VASCEPA when advantageous [7] - The company continues to evaluate opportunities to expand the impact of VASCEPA/VAZKEPA in addressing cardiovascular risk globally [2][3]

Core Points - Amarin Corporation has regained compliance with Nasdaq's continued listing standards for minimum share price, confirming an average closing share price of at least $1.00 over the last 10 consecutive business days as of April 28, 2025 [2][3] - The company is now fully compliant with all Nasdaq listing requirements and will continue to be listed and traded on the Nasdaq Capital Market [3] - Amarin's focus remains on maximizing the global value of its products VASCEPA and VAZKEPA for patients [3] Company Overview - Amarin is an innovative pharmaceutical company specializing in cardiovascular disease management, with offices in Bridgewater, New Jersey, Dublin, Ireland, and Zug, Switzerland, among other locations [3] - The company is committed to enhancing the scientific understanding of cardiovascular risk that persists beyond traditional therapies and advancing treatment options [3]