Amarin Corp. PLC Files Q3 2024 10-Q

TL;DR

Amarin's Q3 10-Q is in, showing financial updates and licensing details. Check it out.

AI Summary

Amarin Corp. plc filed its 10-Q for the period ending September 30, 2024. The company reported on its financial condition, including details on accrued liabilities and other current liabilities. Key financial activities and agreements, such as out-license agreements and rebates, were also highlighted for the periods ending September 30, 2023, and September 30, 2024.

Why It Matters

This filing provides investors with a quarterly update on Amarin's financial health and operational activities, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — Quarterly filings like this 10-Q are standard for public companies and carry inherent risks related to financial performance and market conditions.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2023-09-30 — Prior Year Reporting Period End Date (Provides a comparative point for financial performance analysis.)
• 2024-01-01 to 2024-09-30 — Current Year Nine-Month Period (Covers the operational and financial activities for the first nine months of 2024.)
• 2023-01-01 to 2023-09-30 — Prior Year Nine-Month Period (Covers the operational and financial activities for the first nine months of 2023, for comparison.)

Key Players & Entities

• AMARIN CORP PLC\UK (company) — Filer
• 20240930 (date) — Period of Report
• 20241030 (date) — Filing Date
• DUBLIN 2 (location) — Business Address City
• Vascepa (product) — Mentioned product

FAQ

Filing Documents

• amrn-20240930.htm (10-Q) — 2302KB
• amrn-ex10_1.htm (EX-10.1) — 18KB
• amrn-ex31_1.htm (EX-31.1) — 11KB
• amrn-ex31_2.htm (EX-31.2) — 12KB
• amrn-ex32_1.htm (EX-32.1) — 12KB
• img153238507_0.jpg (GRAPHIC) — 135KB
• img195770556_0.jpg (GRAPHIC) — 6KB
• 0000950170-24-118990.txt ( ) — 9922KB
• amrn-20240930.xsd (EX-101.SCH) — 1297KB
• amrn-20240930_htm.xml (XML) — 1802KB

– Financial Information

PART I – Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statement of Changes in Stockholders' Equity for the nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 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 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

– Other Information

PART II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 5. Other Information 72 Item 6. Exhibits 73

SIGNATURES

SIGNATURES 74 2 PART I AMARIN CORPORATION PLC CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited, in thousands, except share amounts) September 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 156,944 $ 199,252 Restricted cash 526 525 Short-term investments 148,788 121,407 Accounts receivable, net 112,642 133,563 Inventory 224,000 258,616 Prepaid and other current assets 7,316 11,618 Total current assets 650,216 724,981 Property, plant and equipment, net 24 114 Long-term inventory 74,023 77,615 Operating lease right-of-use asset 7,984 8,310 Other long-term assets 1,250 1,360 Intangible asset, net 17,118 19,304 TOTAL ASSETS $ 750,615 $ 831,684 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 40,507 $ 52,762 Accrued expenses and other current liabilities 161,047 204,174 Current deferred revenue — 2,341 Total current liabilities 201,554 259,277 Long-Term Liabilities: Long-term deferred revenue — 2,509 Long-term operating lease liability 8,215 8,737 Other long-term liabilities 9,471 9,064 Total liabilities 219,240 279,587 Commitments and contingencies (Note 5) Stockholders' Equity: Common stock, 0.50 par, unlimited authorized; 421,994,431 shares issued, 411,261,678 shares outstanding as of September 30, 2024; 418,141,295 shares issued, 408,824,093 shares outstanding as of December 31, 2023 305,202 302,756 Additional paid-in capital 1,911,445 1,899,456 Treasury stock; 10,732,753 shares as of September 30, 2024; 9,317,202 shares as of December 31, 2023 ( 65,344 ) ( 63,752 ) Accumulated deficit ( 1,619,928 ) ( 1,586,363 ) Total stockholders' equity 531,375 552,097 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 750,615 $ 831,684 See notes to condensed consolidated financial statements. 3 AMARIN CORPORAT

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View this 10-Q filing on SEC EDGAR