Amarin Corp. PLC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Amarin Corp. PLC filed its Q1 2024 10-Q, detailing financial data, stock activity, and various licensing agreements.</b>

AI Summary

AMARIN CORP PLC\UK (AMRN) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Amarin Corp. PLC filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to treasury stock, common stock, and allowance for credit losses for various periods. Specific agreements mentioned include Out-Licenses Agreements with entities like Edding, Marine, and Biologix across different countries. The company's stock incentive plans, including the Stock Incentive Plan Twenty Twenty, are referenced. Fair value measurements for recurring items, particularly Level 2 inputs, are detailed as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking AMARIN CORP PLC\UK, this filing contains several important signals. The 10-Q filing provides a snapshot of Amarin's financial position and stock-related activities for the first quarter of 2024, crucial for investors assessing the company's health. Details on out-licensing agreements and fair value measurements offer insights into the company's strategic partnerships and asset valuation methods.

Risk Assessment

Risk Level: low — AMARIN CORP PLC\UK shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Monitor future filings for updates on revenue growth, net income, and the impact of licensing agreements on the company's financial performance.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-01 — Filing Date (Filed as of Date)
• 2023-03-31 — Common Stock Date (us-gaap:CommonStockMember)
• 2023-01-01 2023-03-31 — Treasury Stock Period (us-gaap:TreasuryStockCommonMember)
• 2024-01-01 2024-03-31 — Allowance for Credit Loss Period (us-gaap:AllowanceForCreditLossMember)

Key Players & Entities

• AMARIN CORP PLC (company) — Filer
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-01 (date) — Filed as of Date
• 0000897448 (company) — Central Index Key
• 2834 (industry) — Standard Industrial Classification
• DUBLIN 2 (location) — Business Address City
• Edding (company) — Out-Licenses Agreement
• Vascepa (product) — Mentioned in licensing agreements

FAQ

Industry Context

Amarin Corp. PLC operates in the pharmaceutical preparations industry, focusing on developing and commercializing therapies.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly reporting by public companies.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Track any subsequent events or material changes disclosed in future filings.
3. Analyze the impact of the mentioned out-licensing agreements on future revenue streams.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, following previous filings for the fiscal year 2023.

Filing Documents

• amrn-20240331.htm (10-Q) — 1794KB
• amrn-ex31_1.htm (EX-31.1) — 11KB
• amrn-ex31_2.htm (EX-31.2) — 12KB
• amrn-ex32_1.htm (EX-32.1) — 11KB
• img153232742_0.jpg (GRAPHIC) — 141KB
• 0000950170-24-050886.txt (&nbsp;) — 8296KB
• amrn-20240331.xsd (EX-101.SCH) — 1232KB
• amrn-20240331_htm.xml (XML) — 1412KB

– Financial Information

PART I – Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statement of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

– Other Information

PART II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 67 Item 5. Other Information 67 Item 6. Exhibits 68

SIGNATURES

SIGNATURES 69 2 PART I AMARIN CORPORATION PLC CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited, in thousands, except share amounts) March 31, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 213,944 $ 199,252 Restricted cash 525 525 Short-term investments 94,235 121,407 Accounts receivable, net 115,806 133,563 Inventory 255,280 258,616 Prepaid and other current assets 8,142 11,618 Total current assets 687,932 724,981 Property, plant and equipment, net 81 114 Long-term inventory 74,225 77,615 Operating lease right-of-use asset 7,876 8,310 Other long-term assets 1,324 1,360 Intangible asset, net 18,575 19,304 TOTAL ASSETS $ 790,013 $ 831,684 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 67,600 $ 52,762 Accrued expenses and other current liabilities 154,440 204,174 Current deferred revenue 2,341 2,341 Total current liabilities 224,381 259,277 Long-Term Liabilities: Long-term deferred revenue 2,108 2,509 Long-term operating lease liability 8,389 8,737 Other long-term liabilities 9,199 9,064 Total liabilities 244,077 279,587 Commitments and contingencies (Note 5) Stockholders' Equity: Common stock, 0.50 par, unlimited authorized; 421,270,432 shares issued, 410,735,780 shares outstanding as of March 31, 2024; 418,141,295 shares issued, 408,824,093 shares outstanding as of December 31, 2023 304,742 302,756 Additional paid-in capital 1,902,698 1,899,456 Treasury stock; 10,534,652 shares as of March 31, 2024; 9,317,202 shares as of December 31, 2023 ( 65,188 ) ( 63,752 ) Accumulated deficit ( 1,596,316 ) ( 1,586,363 ) Total stockholders' equity 545,936 552,097 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 790,013 $ 831,684 See notes to condensed consolidated financial statements. 3 AMARIN CORPORATION P

View Full Filing

View this 10-Q filing on SEC EDGAR