Amarin Corp. PLC Files 10-Q for Q2 2024
Ticker: AMRN · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 897448
| Field | Detail |
|---|---|
| Company | Amarin Corp PLC\UK (AMRN) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals
TL;DR
Amarin's Q2 10-Q is in. Check financials for VASCEPA performance.
AI Summary
Amarin Corp. plc filed a 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which is involved in the pharmaceutical preparations industry. Key financial data and business segments are presented within the report.
Why It Matters
This filing provides investors and stakeholders with an update on Amarin's financial health and operational progress during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The company operates in the highly regulated pharmaceutical industry, facing market competition and potential clinical trial outcomes.
Key Numbers
- 2023-06-30 — Previous Period End Date (Comparison for financial reporting)
- 2024-06-30 — Current Period End Date (Financial reporting period)
- 2023-01-01 — Start of Previous Period (Financial reporting comparison)
- 2024-01-01 — Start of Current Period (Financial reporting period)
- 2016-03-01 — Agreement Start Date (Out-Licenses Agreement)
Key Players & Entities
- AMARIN CORP PLC\UK (company) — Filer
- 20240630 (date) — Period of Report
- 20240731 (date) — Filing Date
- 0000897448 (company) — Central Index Key
- 2834 (industry_code) — Standard Industrial Classification
- DUBLIN 2 (location) — Business Address City
- AMARIN PHARMACEUTICALS PLC (company) — Former Company Name
- ETHICAL HOLDINGS PLC (company) — Former Company Name
- VASCEPA (product) — Key Product Mentioned
FAQ
What was Amarin's reported revenue for the period ending June 30, 2024?
The filing indicates 'SalesRevenueNet' but does not provide a specific dollar amount in the provided text snippet.
What is the company's Central Index Key (CIK)?
Amarin Corp. plc's Central Index Key is 0000897448.
What is the primary business address of Amarin Corp. plc?
The business address is SPACES SOUTH DOCKLANDS, BLOCK C, 77 SIR JOHN ROGERSON'S QUAY, DUBLIN 2, D02 VK60.
What is the SIC code for Amarin Corp. plc?
The Standard Industrial Classification code is 2834, which corresponds to Pharmaceutical Preparations.
What specific product is mentioned in relation to the reporting period?
The product 'VASCEPA Half Gram' is mentioned in relation to the period from January 1, 2024, to June 30, 2024.
Filing Stats: 4,482 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2024-07-31 07:05:26
Filing Documents
- amrn-20240630.htm (10-Q) — 2155KB
- amrn-ex31_1.htm (EX-31.1) — 11KB
- amrn-ex31_2.htm (EX-31.2) — 12KB
- amrn-ex32_1.htm (EX-32.1) — 11KB
- img153235624_0.jpg (GRAPHIC) — 141KB
- 0000950170-24-088233.txt ( ) — 9313KB
- amrn-20240630.xsd (EX-101.SCH) — 1232KB
- amrn-20240630_htm.xml (XML) — 1715KB
– Financial Information
PART I – Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statement of Changes in Stockholders' Equity for the six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 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 25 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 38
– Other Information
PART II – Other Information Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 71 Item 5. Other Information 71 Item 6. Exhibits 72
SIGNATURES
SIGNATURES 73 2 PART I AMARIN CORPORATION PLC CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited, in thousands, except share amounts) June 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 215,924 $ 199,252 Restricted cash 525 525 Short-term investments 90,739 121,407 Accounts receivable, net 123,691 133,563 Inventory 239,408 258,616 Prepaid and other current assets 31,552 11,618 Total current assets 701,839 724,981 Property, plant and equipment, net 49 114 Long-term inventory 71,294 77,615 Operating lease right-of-use asset 7,540 8,310 Other long-term assets 1,287 1,360 Intangible asset, net 17,846 19,304 TOTAL ASSETS $ 799,855 $ 831,684 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 54,383 $ 52,762 Accrued expenses and other current liabilities 176,159 204,174 Current deferred revenue — 2,341 Total current liabilities 230,542 259,277 Long-Term Liabilities: Long-term deferred revenue — 2,509 Long-term operating lease liability 8,099 8,737 Other long-term liabilities 9,335 9,064 Total liabilities 247,976 279,587 Commitments and contingencies (Note 5) Stockholders' Equity: Common stock, 0.50 par, unlimited authorized; 421,751,350 shares issued, 411,113,770 shares outstanding as of June 30, 2024; 418,141,295 shares issued, 408,824,093 shares outstanding as of December 31, 2023 305,046 302,756 Additional paid-in capital 1,906,903 1,899,456 Treasury stock; 10,637,580 shares as of June 30, 2024; 9,317,202 shares as of December 31, 2023 ( 65,276 ) ( 63,752 ) Accumulated deficit ( 1,594,794 ) ( 1,586,363 ) Total stockholders' equity 551,879 552,097 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 799,855 $ 831,684 See notes to condensed consolidated financial statements. 3 AMARIN CORPORATION PLC CONDE