Categories Earnings, Health Care

Amarin’s Q3 results top estimates

Amarin Corporation plc (NASDAQ: AMRN) reported better-than-expected revenue and earnings for the third quarter of 2019, allowing the stock to gain 2% during premarket hours on Tuesday.

Total revenue of $112.4 million was up 103% compared to the prior-year period and above estimates of $110 million.  

GAAP net loss was $3.5 million, or $0.01 per share, compared to a loss of $24.5 million, or $0.08 per share, last year. Adjusted net income was $4.5 million, or $0.01 per share. Analysts had forecast adjusted loss of $0.05 per share.

Amarin quarterly product revenue and Vascepa prescription growth

Net product revenue increased 104% year-over-year to $112.3 million, driven mainly by an increase in total Vascepa prescriptions in the US. The increased prescription levels reflect both a higher number of Vascepa prescribers and an increase in the average prescriptions per prescriber.

Based on data provided by Symphony Health and IQVIA, the estimated number of normalized total Vascepa prescriptions for the quarter were approx. 865,000 and 787,000, respectively, reflecting increases of 89% over the year-ago period. The increase in prescriptions were mainly across the US.

Also read: Bausch Health Q3 2019 Earnings Report

Gross margin on net product revenue was 77% in the third quarter compared to 75% in the same period a year earlier.

R&D expense decreased 37% year-over-year to $8.9 million, mainly due to the decline in REDUCE-IT related costs.  

For full-year 2019, Amarin expects revenues to be $380 million to $420 million.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Micron Technology (MU) Q3 Earnings: Key financials and quarterly highlights

Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared

Constellation Brands (STZ): Earnings beat and share structure revamp put brewer in the spotlight

Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.

Infographic: Key highlights from Constellation Brands (STZ) Q1 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top