Amarin Provides Preliminary Fourth Quarter 2023 Selected Financials and Outlines Key Priorities For 2024

-- Reported Unaudited Total Revenues of Between $72 Million - $74 Million in the Fourth Quarter of 2023 --

-- Company Ends 2023 with a Cash Position of $321 Million and Delivered Full-Year Positive Cash Flow of ~$10 Million --

-- 2024 Key Priorities Include Accelerating Revenue in Key European Launch Markets, Retaining IPE Market Leadership in the US and Maximizing Patient Uptake in Rest of World (RoW) Through Partnerships --

-- Company Announces Plan to Initiate Share Repurchase Program of Up to $50 Million --

-- Amarin to Present at 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024 --

DUBLIN, Ireland and BRIDGEWATER, N.J., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today provided a business update, including preliminary unaudited fourth quarter 2023 revenue and its year-end cash position, its 2023 progress and 2024 priorities and its plan to initiate a share repurchase program, ahead of its presentation to investors at the 42^nd Annual J.P. Morgan Healthcare Conference in San Francisco.

Amarin Announces Preliminary (Unaudited) Fourth-Quarter and Full-Year 2023 Revenues and Cash Position

Revenues: For the fourth quarter, Amarin estimates total revenue between $72 to $74 million (Europe ~$1.5 million; U.S. $64 - $65 million; RoW $7 - $8 million – including supply shipments and milestone achievement) and between $304 to $306 million for the full year 2023.

Cash Position: Amarin ended 2023 with approximately $321 million in cash and investments, with positive cash flow of approximately $10 million for the full year. The Company has now reported six consecutive quarters of cash positive or neutral operations.

Management Commentary

“In 2023, our team focused and delivered on our priorities that advanced our strategy,” said Patrick Holt, President & CEO of Amarin. “We enter 2024 with a number of positives: we have a solid cash position and no debt; our European business is showing early signs of progress following new leadership and a new strategy; our U.S. business continues to retain IPE market leadership and is in a solid position with exclusive contracts to start 2024; and our partners in the Rest of World (ROW) are advancing commercialization and market access efforts. As we begin this year and in-line with this morning’s announced share repurchase program, we have confidence in the business and we are focused on delivering value for shareholders.”