[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]

Amarin Corporation (AMRN) Conference Call Summary Company Overview - **Company**: Amarin Corporation - **Date**: June 24, 2025 - **Key Product**: VASCEPA (Veskepta in Europe) Core Industry Insights - **Industry**: Cardiovascular Pharmaceuticals - **Market Need**: Significant unmet need in cardiovascular disease treatment, particularly in Europe [5][9][31] Key Announcements - **Partnership with Recordati**: - Amarin has entered a long-term partnership with Recordati to commercialize VASCEPA in Europe [5][6] - Recordati is recognized for its extensive cardiovascular expertise and established infrastructure [5][6] - The partnership aims to enhance patient access to VASCEPA across Europe [5][9] Financial Highlights - **Upfront Payment**: Amarin will receive an upfront payment of $25 million [7] - **Milestone Payments**: Potential milestone payments up to $150 million based on Recordati's sales performance [7][25] - **Supply-Based Revenues**: Amarin will receive royalties and revenues from product supply, which are significant for the company [7][8] - **Cost Structure Improvement**: Expected cost savings of approximately $70 million over the next twelve months due to restructuring [13][14] Market Performance - **U.S. Sales**: Nearly 28 million prescriptions of VASCEPA have been written, with 2.4 million patients treated since launch [10] - **Global Strategy**: Focus on driving access and utilization in various international markets while maintaining a profitable U.S. business [10][15] Strategic Focus - **Restructuring**: Amarin plans to become a leaner organization to support global business and maximize shareholder value [8][19] - **Long-Term Vision**: The partnership with Recordati is seen as a critical step in executing Amarin's global strategy and strengthening its financial position [19][20] Competitive Landscape - **Complementary Positioning**: VASCEPA is positioned as a complementary therapy to existing LDL-lowering treatments, not a direct competitor [36][37] - **Market Dynamics**: The cardiovascular market is becoming increasingly crowded, but VASCEPA's unique clinical profile offers significant growth potential [36][38] Risk Factors - **Forward-Looking Statements**: The company cautions that actual results may differ from projections due to various risk factors, including market dynamics and operational challenges [2][3] Conclusion - **Future Outlook**: Amarin is optimistic about the partnership with Recordati and the potential for VASCEPA to address cardiovascular disease needs in Europe, while also maintaining a strong position in the U.S. market [19][20]

Core Points - Amarin Corporation has entered into a long-term licensing and supply agreement with Recordati S.p.A. to commercialize VAZKEPA in 59 countries, primarily in Europe, aiming to enhance the product's market reach and financial position [1][2] - The partnership is expected to generate approximately $70 million in cost savings over the next 12 months through streamlined global operations, particularly by reducing commercialization expenses in Europe [1][12] - Amarin's financial strength includes nearly $300 million in cash and no debt, positioning the company for accelerated positive cash flow [2][3] Company Strategy - The collaboration with Recordati is seen as a strategic move to leverage their expertise in the cardiovascular space, which aligns with Amarin's goal of maximizing long-term shareholder value [2][4] - Amarin will continue to focus on its U.S. operations, which are profitable and provide meaningful cash flows, while also exploring international partnerships to enhance revenue generation [12] Financial Terms of the Agreement - Amarin will receive an upfront payment of $25 million and potential milestone payments up to $150 million based on Recordati's commercial sales performance [5] - The agreement includes supply-based revenues and royalties from the commercialization of VAZKEPA [5] Market Context - Recordati is a well-established pharmaceutical company with a strong presence in the cardiovascular market, which constitutes about 25% of its Specialty and Primary Care business [3] - The partnership is expected to enhance the commercial opportunity for VAZKEPA in Europe, where Amarin holds patent protection until 2039 [2][4]