Core Insights - Amarin Corporation reported a total net revenue of $68 million for the second quarter of 2024, reflecting a 16% decrease compared to the same period in 2023, primarily due to U.S. generic competition impacting net selling prices [3][4] - The company completed a leadership transition with Aaron Berg appointed as President and CEO, focusing on operational execution and expanding the impact of VASCEPA/VAZKEPA globally [1][2] - Amarin's cash position stands at $307 million, providing a stable capital foundation for ongoing operations and strategic investments [1][8] Financial Performance - Total net revenue for Q2 2024 was $67.5 million, down from $80.2 million in Q2 2023, marking a 16% decline [3] - Net product revenue decreased by 27% to $47.5 million in Q2 2024 from $65.2 million in Q2 2023, with U.S. net product revenue falling from $64.6 million to $43.8 million [3] - Licensing and royalty revenue increased to $20 million in Q2 2024, including a $15 million milestone payment for regulatory approval in China [4] Cost Management - Operating expenses were reduced by 24% to $43.3 million in Q2 2024 from $56.6 million in Q2 2023, largely due to a restructuring plan implemented in July 2023 [3][4] - The company achieved $50 million in annual savings from workforce reductions announced in July 2023 [2][5] Product Developments - EDDINGPHARM, Amarin's partner, received regulatory approval for VASCEPA in China for cardiovascular risk reduction [2] - A new patent for VAZKEPA was granted by the European Patent Office, extending exclusivity until 2039 [2] Market Position - VASCEPA/VAZKEPA is positioned as a significant treatment for cardiovascular risk, supported by strong scientific evidence and intellectual property [1][2] - The company is focused on maximizing cash generation from U.S. and international markets while preserving cash for strategic opportunities [8]

Core Insights - The article highlights three breakthrough stocks under $10, each demonstrating strong fundamentals and high upside potential in their respective sectors. Group 1: Arq (ARQ) - Arq produces activated carbon and environmentally efficient carbon products, reporting Q1 2024 revenue of $21.7 million, a 4% increase year-over-year despite a 6% reduction in volumes due to higher average selling prices and a favorable product mix [3][4] - The company's gross margin improved significantly to 37% from 17% in the previous year, indicating a focus on profitability over volume and effective operational cost management [3][4] - Arq secured a strategic supply contract for its GAC product, forecasting 5 million pounds per year, which represents approximately 20% of its Red River facility's capacity, with deliveries expected to start in Q1 2025 [4] Group 2: Amarin (AMRN) - Amarin specializes in cardiovascular disease treatments, achieving a 65% increase in in-market sales in Europe in Q1 2024 compared to Q4 2023, with significant contributions from Spain and the UK [5][6] - In Spain, the number of patients on VAZKEPA therapy increased by 91%, while the UK saw a 28% growth in patient numbers during the same period, indicating strong market acceptance and demand [5][6] - European net product revenue grew by 35% from Q4 2023, reflecting successful market access and reimbursement efforts, positioning Amarin as a top pick among breakthrough stocks under $10 [6] Group 3: OppFi (OPFI) - OppFi is a financial tech company that has improved its credit performance, with the net charge-off rate decreasing by 1.1 percentage points to 47.9% of total revenue in Q1 2024, indicating better credit quality [7][8] - Recoveries of previously charged-off loan balances increased by 33.5% annually, showcasing OppFi's enhanced ability to recover funds and contributing to its financial health [7] - The company's total expenses as a percentage of consolidated top-line increased by 1.1% annually to 45.5%, but adjusted expenses dropped by 2.7% to 40.6%, highlighting a focus on operational efficiency and cost control [8]

Core Insights - The Portuguese Ministry of Health has approved VAZKEPA® (icosapent ethyl) for national reimbursement to reduce cardiovascular event risks in high-risk patients [1] - This approval represents the eighth national reimbursement of VAZKEPA in Europe, enhancing its market presence [1] - The commercialization of VAZKEPA in Portugal will commence on August 1, 2024, providing a new treatment option for patients with established cardiovascular disease [1] Company Overview - Amarin Corporation is focused on innovative pharmaceutical solutions for cardiovascular disease management, with a commitment to addressing cardiovascular risks beyond traditional therapies [1] - The company has a strong intellectual property position for VAZKEPA in Europe, extending until 2039 [1] - Amarin is actively pursuing pricing and reimbursement discussions in other European markets to enhance patient access [1] Market Context - In Portugal, the prevalence of established cardiovascular disease among adults aged 45 to 79 is reported at 10.7% [1] - Cardiovascular disease accounts for over 35,000 annual deaths in Portugal, representing 29% of total mortality in 2017 [1] - The growing prevalence of cardiovascular risk factors underscores the urgent need for effective treatment options in the Portuguese healthcare system [1]

Core Insights - Amarin Corporation plc will host a conference call on July 31, 2024, at 8:00 a.m. ET to discuss its second quarter 2024 results [1] - The company is partnering with Say Technologies to allow shareholders to submit and upvote questions for the management during the earnings call [1][2] Conference Call Details - The earnings call will take place following the release of the second quarter 2024 financial results in the pre-market hours on July 31 [1] - Shareholders can submit questions via a dedicated platform until 24 hours before the call [2] - 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 U.S. and international participants [3] Company Overview - Amarin is an innovative pharmaceutical company focused on cardiovascular disease management, with offices in multiple countries including the U.S., Ireland, and Switzerland [4] - The company aims to enhance the scientific understanding of cardiovascular risks that persist beyond traditional therapies [4] Investor Communication - Amarin utilizes its website and investor relations section to communicate with investors, providing access to various materials including presentations, SEC filings, and press releases [5] - The company encourages regular review of the information posted on its channels, which may include updates on social media [5]

-- VASCEPA Approved by the National Medical Products Administration (NMPA) To Reduce the Risk of Cardiovascular Events as an Adjunct to Statin Therapy in Adult Patients with Elevated Triglyceride (TG) Levels (≥150 mg/dL) and Other High-Risk Characteristics as Studied in REDUCE-IT -- -- EddingPharm Now Working to Prepare for National Reimbursement and Drug Listing (NRDL) and Enhance the Commercial Launch of VASCEPA Across Mainland China -- DUBLIN and BRIDGEWATER, N.J., July 08, 2024 (GLOBE NEWSWIRE) -- Amari ...

Core Viewpoint - Amarin Corporation's commercial partner EddingPharm has received regulatory approval from China's National Medical Products Administration (NMPA) for VASCEPA to reduce the risk of cardiovascular events in specific high-risk adult patients [1][2] Group 1: Regulatory Approval and Market Potential - VASCEPA is approved as an adjunct to statin therapy for adult patients with elevated triglyceride levels (≥150 mg/dL) and established cardiovascular disease or diabetes with additional risk factors [1][2] - EddingPharm is working to include VASCEPA in the National Reimbursement Drug Listing (NRDL), which covers 98% of the Chinese population, allowing for public reimbursement [2] Group 2: Cardiovascular Disease Context in China - Cardiovascular disease (CVD) accounts for 44-47% of all deaths in China, with an estimated 330 million patients suffering from CVD [3] - The World Heart Federation projects a 50% increase in cardiovascular events in China from 2010 to 2030 due to population aging and growth [3] Group 3: Financial Implications and Partnerships - Amarin will receive a regulatory milestone payment of $15 million from EddingPharm following the NMPA approval [4] - EddingPharm will pay Amarin tiered double-digit percentage royalties on net sales of VASCEPA in China [4] Group 4: Future Developments - NMPA has requested EddingPharm to conduct a post-approval study to verify VASCEPA's efficacy in reducing cardiovascular events in Chinese patients [3][4]

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-- Board Appoints Aaron Berg as President & CEO -- -- Patrick Holt to Step Down as President & CEO to Pursue Other Opportunities -- DUBLIN and BRIDGEWATER, N.J., June 04, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today announced that the Company's Board of Directors has appointed Aaron Berg, currently Amarin's Executive Vice President and President of the U.S. Business, as President and Chief Executive Officer (CEO). The appointment of Mr. Berg follows the resignation of Patrick Holt as ...

-- Board Appoints Aaron Berg as President & CEO -- -- Patrick Holt to Step Down as President & CEO to Pursue Other Opportunities -- DUBLIN and BRIDGEWATER, N.J., June 04, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today announced that the Company’s Board of Directors has appointed Aaron Berg, currently Amarin’s Executive Vice President and President of the U.S. Business, as President and Chief Executive Officer (CEO). The appointment of Mr. Berg follows the resignation of Patrick Holt as ...

Core Points - The Greek Ministry of Health has approved VAZKEPA® (icosapent ethyl) for national reimbursement to reduce cardiovascular risk in high-risk adult patients treated with statins [1][2] - This approval represents the seventh national reimbursement of VAZKEPA® in Europe, enhancing access for eligible patients in Greece [2] - Vianex S.A. has been appointed as the exclusive distributor of VAZKEPA® in Greece, responsible for its import, registration, distribution, and commercialization [3][4] Company Overview - Amarin Corporation is focused on advancing cardiovascular disease management and increasing scientific understanding of cardiovascular risk beyond traditional therapies [5] - Vianex S.A., a leading Greek pharmaceutical company, has a 100-year history in the industry and is known for its strong commercial capabilities and expertise in cardiology [6][7]