Amarin Reports Fourth Quarter Financial Results & Business Update and Announces Important Corporate Action

Core Insights - Amarin Corporation reported total revenues of $62.3 million for Q4 2024, a decrease of 17$74.7 million in Q4 2023, primarily due to lower net selling prices and reduced volume from U.S. generic competition [7][9] - The company ended 2024 with a cash position of $294.2 million and no debt, reflecting a disciplined approach to capital management [3][16] - Amarin announced a 1-for-20 ADS ratio change to maintain its Nasdaq listing, effective around April 11, 2025 [4] Financial Performance - Total net revenue for Q4 2024 was$62.3 million, down from $74.7 million in Q4 2023, marking a 17$43.0 million in Q4 2024 from $49.7 million in Q4 2023 [7][13] - The net loss for Q4 2024 was$48.6 million, compared to a net loss of $5.8 million in Q4 2023, resulting in a basic and diluted loss per share of$0.12 [14][36] Product and Market Developments - The VASCEPA/VAZKEPA franchise continues to expand, with significant growth in global markets, including Italy, China, and Australia [3][10] - In Europe, VAZKEPA secured national reimbursement in Italy and Austria, enhancing market access [5][11] - The company reported U.S. net product revenue of $44.2 million for Q4 2024, down from$64.9 million in Q4 2023, while European and Rest of World revenues showed growth [11] Strategic Outlook - Amarin aims to capitalize on opportunities in Europe, targeting over 5 million high-risk patients with established cardiovascular disease [17] - The company is focused on efficient revenue generation in the U.S. and expanding its presence in Rest of World markets [17] - Ongoing cost optimization efforts are expected to support the company's financial health and operational efficiency [13][17]