Amarin Corporation plc · NASDAQ:AMRN
Amarin — Q2 2024 Earnings Presentation
16 slides from Amarin's earnings presentation, Jul 31, 2024
Slide 1: Second Quarter 2024 Business Update & Financial Results Conference Call
Second Quarter 2024 Business Update & Financial Results Conference Call Aaron Berg Tom Reilly CEO & President CFO July 31, 2024
Slide 2: Forward Looking Statements & Disclaimer
Forward Looking Statements & Disclaimer This presentation contains forward-looking statements, such as those relating to the commercial potential of VASCEPA® (VAZKEPA® in Europe), clinical and regulatory efforts and timelines, potential regulatory and pricing approvals, generic product launches, res
Slide 3: Today's Agenda
Today’s Agenda 01 SECOND QUARTER 2024 BUSINESS UPDATE Aaron Berg, President & CEO 02 SECOND QUARTER 2024 FINANCIAL RESULTS Tom Reilly, CFO CLOSING & Q&A 03 Aaron Berg, President & CEO
Slide 4: Second Quarter 2024 Business Update
01 SECOND QUARTER 2024 BUSINESS UPDATE Aaron Berg President & CEO
Slide 5: Unlocking the Value of VASCEPA/VAZKEPA
BUSINESS UPDATE UNLOCKING THE VALUE OF VASCEPA/VAZKEPA VASCEPA/VAZKEPA VALUE • 10+ YEARS OF SCIENCE & CLINICAL DATA • GLOBAL UNMET NEED TO REDUCE CV RISK • SIGNIFICANT UNTAPPED MARKET POTENTIAL IN EUROPE & ROW • EUROPEAN IP PROTECTION INTO 2039 OUR FOCUS: EVALUATE EVERY OPPORTUNITY TO MAXIMIZE THE I
Slide 6: Europe: Leveraging the Long-Term Value of Vazkepa
BUSINESS UPDATE EUROPE: LEVERAGING THE LONG-TERM VALUE OF VAZKEPA TO ACCELERATE REVENUE AND PRICING & REIMBURSEMENT PROGRESS REFOCUSED STRATEGY INCREASE IMPACT – PARTICULARLY FROM EU5 A BEGINNING TO DELIVER RESULTS Accelerating Growth & Revenue and Advancing Pricing & Reimbursement 1. Targeted Patie
Slide 7: Rest of World: Advancing Vascepa/Vazkepa Value
BUSINESS UPDATE REST OF WORLD: ADVANCING VASCEPA/VAZKEPA VALUE THROUGH ACCESS & UPTAKE IN KEY PARTNERSHIP MARKETS 20+ REGULATORY CHINA PROCESSES CANADA Alberta Product Listing CVRR approval secured; NRDL process ongoing UNDERWAY Agreement Announced July '24 SOUTH KOREA AND ASEAN (LOTUS) Regulatory p
Slide 8: U.S.: Continues to Deliver Cash and IPE Market Leadership
BUSINESS UPDATE U.S.: CONTINUES TO DELIVER CASH AND IPE MARKET LEADERSHIP; ADDITIONAL HEADWINDS IMPACT Q2 & FUTURE REVENUES • U.S. business continuing to generate cash • Market share remained stable through Q2 2024 Q2 2024: • Q2 revenues continued to be impacted by U.S. net selling price due to incr
Slide 9: Second Quarter 2024 Financial Results
02 SECOND QUARTER 2024 FINANCIAL RESULTS Tom Reilly CFO
Slide 10: Revenue Lower Due to Net Selling Price
FINANCIAL RESULTS REVENUE LOWER DUE TO NET SELLING PRICE OFFSET BY OPERATING EXPENSE MANAGEMENT Total Net Revenue of $68M in Q2 impacted primarily by U.S. pricing Total Operating Expense due to generic competition Total Net Revenue (excluding restructuring charges) • U.S. revenue of $44M; Decline dr
Slide 11: Despite Revenue Shortfall, Cash Position Remains Resilient
FINANCIAL RESULTS DESPITE REVENUE SHORTFALL, CASH POSITION REMAINS RESILIENT PROVIDING STRONG CAPITAL FOUNDATION Continued Significant Cash Position 325 $321M $321 320 315 $313M $311M 310 $308 $307 $306M $305M 305 Second Quarter 2024 300 • Cash balance at 6/30/24 295 of approximately $307M; 290 cons
Slide 12: Update on Status of Proposed Share Repurchase Program
FINANCIAL RESULTS UPDATE ON STATUS OF PROPOSED SHARE REPURCHASE PROGRAM 01 Company entered into a conditional share repurchase agreement with Cantor Fitzgerald to purchase up to $50 million of Amarin’s ordinary shares 02 Received shareholder approval in April and UK High Court approval in May 03 Com
Slide 13: Closing and Q&A
03 CLOSING AND Q&A Aaron Berg President & CEO
Slide 14: To Maximize the Impact of VASCEPA/VAZKEPA
LOOKING AHEAD OUR NEAR-TERM FOCUS: LEVERAGING THE VALUE OF VASCEPA/VAZKEPA FOR PATIENTS GLOBALLY VASCEPA/VAZKEPA VALUE: 10+ YEARS OF SCIENCE & CLINICAL DATA Evaluate every opportunity GLOBAL UNMET NEED TO REDUCE CV RISK TO MAXIMIZE THE IMPACT UNTAPPED MARKET POTENTIAL IN EUROPE & ROW OF VASCEPA/VAZK
Slide 15: Q&A
Q&A
Slide 16: Thank You
Vascepa Vazkepa (icosapent ethyl) (icosapent ethyl) THANK YOU