Q4 2024 Amarin Corporation PLC Earnings Call Transcript
Key Points
- Amarin Corp PLC (AMRN) reported a strong financial position with 2024 revenues exceeding $200 million and a cash position of nearly $300 million with no debt.
- VASCEPA has secured regulatory approvals in 49 markets globally, with commercial launches in over 20 markets, indicating significant international expansion.
- The company has successfully extended its intellectual property position in Europe, providing exclusivity for VASCEPA through 2039.
- Amarin Corp PLC (AMRN) has made strategic progress in Europe, securing pricing and reimbursement in 10 markets and seeing increased demand in every launch market in Q4 2024.
- The company has maintained a stable cash position over the last nine quarters, demonstrating effective cash management and cost optimization efforts.
- Amarin Corp PLC (AMRN) experienced a decline in US product revenue, primarily due to lower net selling prices and decreased volume from CVS commercial moving from exclusive to not covered.
- The gross margin excluding non-cash inventory restructuring decreased to 41% from 58% in the prior year period, reflecting pricing pressures in the US market.
- The company reported a GAAP net loss of $48.6 million in Q4 2024, compared to a GAAP net loss of $5.8 million in the prior year period, largely due to the impact of the US generic market.
- Amarin Corp PLC (AMRN) anticipates continued impact on year-over-year revenue comparisons in the first two quarters of 2025 due to ongoing pricing pressures and volume changes.
- Despite international expansion, the company acknowledges that it is still in the early stages of commercialization in many regions, requiring further efforts to establish medical advocacy and access.
Welcome to Amarin Corporation conference call to discuss its fourth quarter and full year 2024 business update and financial results. I would like to turn a conference call over to Mark Marmur, Vice President, Corporate communications and Investor relations at Amarin.
Good morning, everyone and thank you for joining us. Turning to slide 2 in our forward-looking statements. Please be aware that this conference call will contain forward-looking statements that are intended to be covered under the safe harbor provided under federal securities law. We may not achieve our goals, carry out our plans or intentions, or meet the expectations disclosed in our forward-looking statements.
Actual results or events could differ materially. So, you should not place undue reliance on these statements. We assume no obligation to update these statements as circumstances change. Our forward-looking statements do not reflect the potential impact of significant transactions we may enter into, such as mergers,
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