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Amarin Corp. (AMRN) Misses Q1 EPS by 1c, Miss on Revenues; Offers Soft FY17 Revenue Guidance

May 3, 2017 5:57 AM

Amarin Corp. (NASDAQ: AMRN) reported Q1 EPS of ($0.08), $0.01 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $34.3 million versus the consensus estimate of $36.53 million.

GUIDANCE:

Amarin Corp. sees FY2017 revenue of $155-165 million, versus the consensus of $165.03 million.

“Historically, Q1 has been our most challenging quarter for revenue growth due to seasonal factors. We are pleased that both revenues and prescriptions for Vascepa grew significantly in Q1, as prescription growth exceeded our internal projections. We are on-track to achieve our full year 2017 product revenue guidance of $155 to $165 million,” stated John F. Thero, president and chief executive officer. “Our expectations are that REDUCE-IT study results will be reported in mid-2018, and we are actively planning for expanded promotion based on anticipated positive results from this study. There is a large unmet medical need that we are seeking to address through demonstration of positive results in REDUCE-IT. We believe the efficacy, safety, oral administration and affordable cost of Vascepa position the product for substantial growth, assuming that REDUCE-IT results are positive.”

Key Amarin achievements through March 31, 2017 include:

For earnings history and earnings-related data on Amarin Corp. (AMRN) click here.

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Earnings Guidance Management Comments