Financial Reports are Key to Consider: Amarin Corporation plc (NASDAQ: AMRN)
)
On Tuesday, Amarin Corporation plc (NASDAQ: AMRN) ended the last transaction at $20.12, with a change of +4.30% or +0.83points. The daily volume was calculated at volume shares 13,364,516. The company has a market worth of $5.914B. It holds an average volume of 13,272,572 shares. In recent session, the stock hit the peak level of $20.46 and touched to lowest level of $19.34.
Amarin Corporation plc (AMRN) recently reported financial results for the three and six months ended June 30, 2018, and provided an update on company operations.
Key Amarin achievements since its last quarterly report include:
- R&D progress: The Vascepa cardiovascular outcomes study, REDUCE-IT™, is designed to provide data to support a importantly expanded market prospects for Vascepa® (icosapent ethyl). The company reported that, as predictable, it is making progress towards completion of this important study. The company reiterated that it anticipates reporting top-line results from REDUCE-IT before the end of September 2018.
- S. revenue growth: Recognized $52.5M in net product revenue from Vascepa sales in Q2 2018 contrast to $44.9M in Q2 2017, an raise of 17%.
- S. prescription growth: Raised normalized prescriptions for Vascepa by 22% and 24% contrast to Q2 2017 based on data from Symphony Health Solutions and IQVIA, respectively.
- International development: Reported regulatory authorization for Vascepa in the United Arab Emirates. Reported a planned alliance with Mochida Pharmaceutical Co., Ltd. to further develop preventative healthcare solutions on a worldwide basis through continued innovation, research and development of product opportunities based on the exclusive properties of eicosapentaenoic acid (EPA).
- Intellectual property: Reported a settlement contract with Teva Pharmaceuticals USA, Inc. that resolves Amarin’s before stated Vascepa patent litigation as it relates to Teva’s abbreviated new drug application seeking U.S. Food and Drug Administration authorization of generic forms of Vascepa capsules.
- Cash balance: As of June 30, 2018, Amarin had a cash balance of $102.3M.
- Financial Update
- Net product revenue for the three months ended June 30, 2018 and 2017 was $52.5M and $44.9M, respectively. Net product revenue for the six months ended June 30, 2018 and 2017 was $96.3M and $79.3M, respectively. The raise in net product revenue was primarily attributable to raises in new and recurring prescriptions of Vascepa.
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. A look on the firm performance, its monthly performance is 610.95% and a quarterly performance of 603.50%. The stock price is trading upbeat from its 200 days moving average with 363.11% and up from 50 days moving average with 169.92%.
Susie Hensel – Healthcare and Biotech
Susie Hensel is a freelance writer and editor with more than 8 years’ experience in the profession and has conducted many training workshops in this field. She is a professional speaker on creative writing, digital publishing, and internet marketing. She lives in New York with her Husband and 2 kids. Susie graduated with distinction from a reputable University in Marketing. She also teaches Marketing subject in New York. Susie is a reporter of “Healthcare and Biotech” Category.
