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Amarin Reports Fourth Quarter Financial Results & Business Update and Announces Important Corporate Action
AMRNAmarin Corporation(AMRN) Newsfilter·2025-03-12 11:00

Core Insights - Amarin Corporation reported a total revenue of 62.3millionforQ42024,adecreaseof1762.3 million for Q4 2024, a decrease of 17% compared to 74.7 million in Q4 2023, primarily due to lower net selling prices and reduced volume from U.S. generic competition [5][8][10] - The company ended 2024 with nearly 300millionincashandnodebt,reflectingadisciplinedapproachtocapitalmanagement[2][5]−A1−for−20ADSratiochangewasannouncedtomaintainthecompany′sNasdaqlisting,effectivearoundApril11,2025[3][5]FinancialPerformance−Q42024operatingexpenseswere300 million in cash and no debt, reflecting a disciplined approach to capital management [2][5] - A 1-for-20 ADS ratio change was announced to maintain the company's Nasdaq listing, effective around April 11, 2025 [3][5] Financial Performance - Q4 2024 operating expenses were 43.0 million, down 18% from 49.7millioninQ42023[5][12]−ThenetlossforQ42024was49.7 million in Q4 2023 [5][12] - The net loss for Q4 2024 was 48.6 million, compared to a net loss of 5.8millioninQ42023,resultinginabasicanddilutedlosspershareof5.8 million in Q4 2023, resulting in a basic and diluted loss per share of 0.12 [13][14] - Adjusted net loss for Q4 2024, excluding non-cash expenses, was 8.7million,comparedtoanadjustednetlossof8.7 million, compared to an adjusted net loss of 0.9 million in Q4 2023 [14][35] Market Expansion and Product Performance - The company successfully launched VASCEPA/VAZKEPA in six additional global markets, including Italy, China, and Australia, and is progressing in 16 more countries [2][6] - In Italy, national reimbursement for VAZKEPA was secured, with access unlocked in over 50% of the eligible population [6] - U.S. net product revenue for Q4 2024 was 44.2million,downfrom44.2 million, down from 64.9 million in Q4 2023, while European revenue increased to 4.0millionfrom4.0 million from 1.5 million [10][11] Research and Development - In 2024, Amarin's R&D team published 45 additional studies supporting the benefits of VASCEPA/VAZKEPA, enhancing the understanding of its cardiovascular risk reduction capabilities [7] - The company plans to present further data at the ACC.25 conference in March 2025, focusing on the antioxidant effects of EPA and its role in reducing cardiovascular events [9]