More on Amarin Q1 results

|About: Amarin Corporation PLC (AMRN)|By:, SA News Editor

Amarin Corp (AMRN) Vascepa sales: $11M (+378.3%); gross margin: 61.3% (+36.2%); operating loss: ($25.6M) (+57.4%); loss/share: ($0.15) (+65.1%); quick assets (ex-A/R): $164.9M (-14.3%).

Formulary coverage now >200M lives including >100M Tier 2 coverage. Estimated Vascepa prescriptions by Symphony Health Solutions and IMS Health were 93K and 78K, respectively.

$100M will be required to finish the REDUCE-IT clinical trial. The company states it may be difficult to complete it without the expected revenues from the previously anticipated ANCHOR indication. Without modification or termination, REDUCE-IT will not be completed until 2017.

$11M in Vascepa sales was based on sales to distributors not the resale of the product to fill prescriptions, which was the method it used until it gained a reliable estimate of returns. Under its old method, Vascepa sales would have been $10M.