Amarin Corporation(US:AMRN) Newsfilterยท2024-01-10 12:00Core Insights - Amarin Corporation reported preliminary unaudited total revenues for Q4 2023 between $72 million and $74 million, with full-year revenues estimated between $304 million and $306 million [2][3] - The company ended 2023 with a cash position of approximately $321 million and achieved a positive cash flow of around $10 million for the year [2][3] - Key priorities for 2024 include accelerating revenue in key European markets, maintaining IPE market leadership in the U.S., and maximizing patient uptake in the Rest of World (RoW) through partnerships [1][3] Financial Performance - Q4 2023 revenue breakdown: Europe approximately $1.5 million, U.S. $64 million to $65 million, and RoW $7 million to $8 million [2] - The company has reported six consecutive quarters of cash positive or neutral operations [2] Strategic Initiatives - Amarin plans to initiate a share repurchase program of up to $50 million, pending shareholder and UK High Court approval [1][7] - The company aims to focus on opportunities to accelerate revenue in Europe, particularly in Spain and the UK, and to advance pricing and reimbursement processes in Italy, France, and Germany [4] Market Position - In the U.S., Amarin retained IPE market share leadership at 57% despite increased generic competition [5] - The company secured five regulatory approvals in RoW, including China, and entered into marketing agreements in key regions [6] Future Outlook - Amarin is on track to deliver $40 million in annual savings from a reduction in force announced in July 2023 [9] - The company anticipates that its current cash and investments are adequate to support ongoing operations, including the share repurchase program [9]