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Last $1.92 USD
Change Today 0.00 / 0.00%
Volume 1.2M
AMRN On Other Exchanges
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As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

amarin corp plc -adr (AMRN) Key Developments

Amarin Corporation plc Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Amarin Corporation plc reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's total revenues were $15,933,000 against $10,967,000 a year ago. Operating loss was $27,049,000 compared to $25,571,000 a year ago. Loss from operations before taxes was $31,598,000 compared to $25,555,000 a year ago. Net loss was $31,126,000 or $0.18 per basic and diluted share compared to $25,980,000 or $0.15 per diluted share a year ago. Adjusted net loss for EPS - non GAAP was $28,557,000 or $0.16 per basic and diluted share compared to $28,488,000 or $0.16 per basic and diluted share a year ago. Net cash outflows from operation, excluding the $15 million in proceeds from the upfront licensing fee, were $27.6 million in the first quarter of 2015 as compared with $27.5 million in the first quarter of 2014.

Amarin Corporation plc to Report Q1, 2015 Results on May 08, 2015

Amarin Corporation plc announced that they will report Q1, 2015 results at 8:00 AM, Eastern Standard Time on May 08, 2015

Amarin Corporation plc, Q1 2015 Earnings Call, May 08, 2015

Amarin Corporation plc, Q1 2015 Earnings Call, May 08, 2015

Amarin Corporation plc Announces Receipt of the Anticipated Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) Regarding its Vascepa®

Amarin Corporation plc announced receipt of the anticipated Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its Vascepa® (icosapent ethyl) capsules ANCHOR trial supplemental New Drug Application (sNDA). Vascepa remains FDA approved for use as an adjunct to diet to reduce triglyceride (TG) levels in adult patients with severe (>500 mg/dL) hypertriglyceridemia. Current Vascepa labeling remains unchanged. The ANCHOR sNDA sought to expand approved Vascepa labeling to include use as an adjunct to diet to reduce TG levels in adult patients on statin therapy with mixed dyslipidemia (one or more lipid disorder) and triglyceride levels from 200 to 499 mg/dL, the ANCHOR population. As previously guided by Amarin, the CRL has been expected in recent months following Amarin’s determination to not further appeal the October 2013, FDA ANCHOR Special Protocol Assessment (SPA) agreement rescission after the reconsideration and denial of the rescission appeal at three levels of increasing authority within the FDA. The originally assigned Prescription Drug User Fee Act, or PDUFA, goal date for the completion of the ANCHOR sNDA was December 20, 2013. In the CRL, FDA acknowledged that Vascepa yielded a treatment difference showing reduced TG levels compared to placebo in patients treated in the ANCHOR study. The clinical rationale for reducing serum TGs with Vascepa and modifying other lipid/lipoprotein parameters shown in ANCHOR among statin-treated patients with TGs 200-499 mg/dL is to reduce cardiovascular risk. FDA concluded that, for regulatory approval purposes, there are insufficient data at this time to support a drug-induced change in serum TGs as a surrogate for reducing cardiovascular risk in the ANCHOR population. FDA did not determine that the drug-induced effects of Vascepa, which go beyond TG-lowering, would not actually reduce cardiovascular risk in this population. Amarin had proposed to FDA multiple alternative indications, data presentations, disclaimers and other regulatory pathways to approval under the sNDA, but FDA determined not to approve label expansion reflecting the ANCHOR clinical trial efficacy data at this time. Safety data from the ANCHOR study remains in the currently approved label for Vascepa.

Amarin Corporation plc Announces Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Amarin Corporation plc announced audited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net product revenues of $16.480 million against $10.106 million a year ago. These increases in product revenues are primarily attributable to increases both in new and recurring prescriptions of Vascepa. Operating loss was $20.200 million against $32.888 million a year ago. Loss from operations before taxes was $23.779 million against $13.778 million a year ago. Net loss was $19.657 million against $15.411 million a year ago. Diluted was $0.11 against $0.27 a year ago. Adjusted net loss for EPS-non GAAP was $18.510 million or $0.11 per basic and diluted share against $44.119 million or $0.26 per basic and diluted share a year ago. For the year, the company reported net product revenues of $54.202 million against $26.351 million a year ago. These increases in product revenues are primarily attributable to increases both in new and recurring prescriptions of Vascepa. Operating loss was $95.955 million against $182.106 million a year ago. Loss from operations before taxes was $59.201 million against $169.421 million a year ago. Net loss was $56.364 million against $166.227 million a year ago. Diluted was $0.36 against $1.28 a year ago. Adjusted net loss for EPS-non GAAP was $99.351 million or $0.57 per basic and diluted share against $202.955 million or $1.26 per basic and diluted share a year ago. Net cash used in operating activities in the year ended December 31, 2014 included approximately $44.3 million in sales and marketing related expenses and approximately $30.5 million of costs incurred through the company's contracted clinical research organization and for clinical trial materials in support of the REDUCE-IT cardiovascular outcomes study. The improvement in net cash used in operating activities from operations to $72.3 million in the year ended December 31, 2014 compared to $190.3 million in the same period in 2013 reflects the company's focus on cash preservation and efficient spend targeting to maximize Vascepa revenues and minimize cash burn. It is anticipated that the company will experience fluctuations in quarterly net cash used in operating activities in the future.

 

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