- Amarin Corporation ( NASDAQ: AMRN ), the maker of fish oil-derived therapy Vascepa/Vazkepa, preannounced its Q4 and 2022 financials on Tuesday, reporting the fourth consecutive quarter of U.S. revenue stabilization despite additional generic competition.
- Citing early unaudited financials, Amarin ( AMRN ) said its total net revenue for the final quarter and full year could reach $88M – $90M and $367M – $369M, respectively.
- “These results continue to reflect ongoing stabilization of the U.S. business for VASCEPA (icosapent ethyl),” the company added, referring to the heart disease therapy that won FDA approval in 2019.
- Amarin ( AMRN ) also recorded ~$310M in cash and investments as of the year-end, backed by ~$4M of positive cash flow in Q4 2022.
- “With these elements in place, we are confident that 2023 will be a year of important execution as we continue to advance our strategy,” Chief Executive Karim Mikhail remarked.
- Seeking Alpha contributor Fade The market opined this month that Amarin ( AMRN ) is fighting a decline in “market share in the United States and significant barriers to expansion in Europe.”
For further details see:
Amarin sees U.S. revenue stabilization amid generic thereat