Amarin Corporation Plc ( (AMRN) ) has realeased its Q3 earnings. Here is a breakdown of the information Amarin Corporation Plc presented to its investors.
Amarin Corporation Plc is a pharmaceutical company specializing in cardiovascular disease management, with a focus on its innovative product, VASCEPA/VAZKEPA, which aims to reduce cardiovascular risks in patients worldwide.
In the third quarter of 2024, Amarin Corporation reported a strong cash position of $306 million and a total net revenue of $42 million. The company continues to see positive growth in Europe, particularly in Spain and the UK, while maintaining a significant market share in the U.S. amidst generic competition.
Key financial highlights include a 19% sequential growth in European sales, driven by strategic pricing and reimbursement efforts, notably in Italy and Portugal. However, the company faced a 36% decrease in total net revenue compared to the same period last year, primarily due to reduced U.S. sales impacted by generic competition and changes in account coverage.
Despite a net loss of $25.1 million in Q3 2024, Amarin remains committed to expanding its market presence in Europe and optimizing its operations to sustain financial stability. The company is set to host a virtual Analyst & Investor Day to further discuss its strategic opportunities and global market potential.
Looking forward, Amarin’s management is focused on maintaining its public listing and exploring various paths to enhance shareholder value while continuing to leverage its strong cash position to support operational growth and market expansion efforts.
