DUBLIN - Amarin (NASDAQ:AMRN) Corporation plc (NASDAQ:AMRN), a pharmaceutical company, announced today that new subgroup data from the REDUCE-IT cardiovascular outcomes trial and other research on its drug VASCEPA/VAZKEPA (icosapent ethyl) will be presented at the upcoming European Society of Cardiology (ESC) Congress in London from August 30 to September 2, 2024.
The presentations will include a REDUCE-IT subgroup analysis assessing the effect of baseline small dense low-density lipoprotein cholesterol (sdLDL-C) on cardiovascular events when treated with icosapent ethyl. Additionally, the association of triglycerides with cardiovascular events in patients with initial or recurrent acute coronary syndrome (ACS) will be examined. Further studies will estimate the number of ACS patients eligible for icosapent ethyl treatment in Spanish hospitals and measure the effects of eicosapentaenoic acid (EPA) on the oxidation of lipoprotein(a) under high glucose conditions.
These studies, supported or funded by Amarin, involve various international academic collaborators. The findings aim to enhance the understanding of the prevalence of residual cardiovascular risk associated with elevated triglyceride levels and the mechanism of action of icosapent ethyl/EPA.
VASCEPA, approved by the U.S. Food and Drug Administration (FDA) and marketed as VAZKEPA in Europe, is indicated as an adjunct therapy for reducing cardiovascular risk in adults with elevated triglyceride levels and as an adjunct to diet for reducing triglyceride levels in patients with severe hypertriglyceridemia.
The company emphasizes its commitment to advancing the treatment of cardiovascular risk beyond traditional therapies and enhancing scientific understanding in this field. The new data presented at the ESC Congress is expected to provide additional validation for the clinical utility of VASCEPA/VAZKEPA for at-risk patients.
This information is based on a press release statement and aims to report on the forthcoming presentations of Amarin's research at the ESC Congress, highlighting the ongoing efforts to address cardiovascular disease management.
In other recent news, Amarin Corporation has reported its Q2 2024 results, revealing a net revenue of $67.5 million and a GAAP net income of $1.5 million. Despite challenges such as generic competition and the loss of a significant commercial account in the US, the company remains focused on the global expansion of its cardiovascular drug, VASCEPA/VAZKEPA. To comply with NASDAQ listing requirements, Amarin is considering options including a potential reverse stock split.
In terms of international growth, Amarin has achieved public reimbursement for VASCEPA in China, a development that included a $15 million payment. Discussions are in final stages for pricing and reimbursement in Australia, and VASCEPA will be listed in Alberta, Canada, starting August 2024. Despite expecting revenue declines in the latter half of 2024 due to the loss of an important contract in the US, Amarin is prepared to launch an authorized generic of VASCEPA if necessary.
In a move to protect its intellectual property, the Federal Circuit has reinstated Amarin's patent infringement lawsuit against Hikma, which will proceed in District Court. Despite facing pressure from generics in the US, Amarin maintains market leadership in the US IPE market and sees strong sales growth prospects in the UK, Spain, and China. These are just some of the recent developments for Amarin.
InvestingPro Insights
As Amarin Corporation plc (NASDAQ:AMRN) prepares to showcase its latest research at the European Society of Cardiology Congress, the company's financial health and stock performance are of keen interest to investors. According to recent InvestingPro data, Amarin's market capitalization stands at $266.44 million. Despite the challenges faced, the company holds a notable advantage in its balance sheet with more cash than debt, which could provide financial flexibility in advancing its cardiovascular treatments.
However, the company's revenue has seen a decrease, with a reported revenue growth decline of -23.53% over the last twelve months as of Q2 2024. Amarin's stock price has also experienced significant volatility and has declined by 45.08% over the last six months. Analysts do not expect the company to be profitable this year, as reflected by a negative P/E ratio of -7.12, which further adjusts to -11.84 for the last twelve months as of Q2 2024.
InvestingPro Tips suggest that while Amarin's liquid assets exceed its short-term obligations, providing some financial resilience, the company's stock has fared poorly over the last month with a price total return of -17.89%. It's also noteworthy that Amarin does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income from their holdings.
For those interested in a deeper dive into Amarin's financials and stock performance, InvestingPro offers additional tips and metrics, which can be accessed by visiting the company's specific page on the InvestingPro platform.
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