Amarin Corp. (AMRN) Tops Q2 EPS by 1c; Beats on Revenues
Amarin Corp. (NASDAQ: AMRN) reported Q2 EPS of ($0.05), $0.01 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $44.9 million versus the consensus estimate of $40.35 million.
Key Amarin achievements since March 31, 2017 include:
- Product revenue growth: Recognized $44.9 million in U.S. net product revenue from Vascepa® (icosapent ethyl) sales in Q2 2017 compared to $32.8 million in Q2 2016, an increase of 37%.
- U.S. prescription growth: Increased normalized prescriptions for Vascepa by 50% and 52% compared to Q2 2016 based on data from Symphony Health Solutions and IMS Health, respectively.
- R&D progress: Landmark long-term cardiovascular outcomes study, REDUCE-IT, nearing completion with results expected to be reported in Q2 or Q3 of 2018.
- Cash flow: Net cash flow was modestly positive from operations during three and six months ended June 30, 2017, excluding cash flow related to R&D and finance (i.e., excluding cash inflows/outflows from debt-related transactions reported in Q1 2017, interest and royalty).
- Cash balance: As of June 30, 2017, Amarin had a cash balance of $85.5 million.
For earnings history and earnings-related data on Amarin Corp. (AMRN) click here.