$130.1 Million and $38.7 Million Total Revenue
for Full Year and Fourth Quarter 2016 Reflect Increases of 59% and
45% Compared to Corresponding Periods in 2015
Amarin Corporation plc (NASDAQ:AMRN), a biopharmaceutical
company focused on the commercialization and development of
therapeutics to improve cardiovascular health, today announced
financial results for the quarter and year ended December 31, 2016,
and provided an update on company operations.
Key Amarin achievements in 2016 include:
- Revenue growth: Recognized total revenue of $130.1 million for
2016 comprised of $129.0 million in net product revenue from U.S.
sales of Vascepa® (icosapent ethyl) and $1.1 million in licensing
revenue in connection with collaborations for the commercialization
of Vascepa outside the United States. Both the total revenue and
net product revenue for 2016 represent increases of 59% over 2015.
Included in annual revenue was $38.7 million in total revenue
recognized in the fourth quarter of 2016, comprised of $38.4
million in net product revenue and $0.3 million in licensing
revenue. Both the total revenue and net product revenue in
the fourth quarter of 2016 increased 45% over corresponding amounts
recognized in the fourth quarter of 2015. As previously reported,
Amarin has guided that 2017 net product revenue from sales of
Vascepa in the United States are anticipated to be between $155
million and $165 million.
- Prescription growth: Increased normalized prescriptions, based
on data from Symphony Health Solutions and IMS Health, by
approximately 50% or more for 2016 and for each of its quarters.
Additionally, there are now more than 100,000 patients using
Vascepa.
- Gross margins: Increased gross margin on product sales to 73%
in 2016, versus 66% in 2015, driven by improvements in product
related costs.
- R&D progress: REDUCE-IT cardiovascular outcomes study
continues to track towards achieving, near the end of 2017, the
onset of the targeted 1,612 aggregate primary cardiovascular events
for completion of the study. The previously described pre-specified
interim efficacy and safety analysis to be completed by the
independent data monitoring committee (DMC) at approximately 80% of
the total primary cardiovascular events is on schedule to be
completed in or about the end of Q3 2017. Amarin remains blinded to
the results of this study and anticipates that the recommendation
of the DMC based on this interim analysis will be to continue the
study to completion, in which scenario final REDUCE-IT results are
expected to be available to report in 2018.
- Strengthened balance sheet: Through transactions in 2016 and
early 2017, reduced Amarin’s debt burden from face value in
exchangeable debt of $165 million to $30 million and moved the
earliest scheduled put date for the remaining debt to 2022.
Amarin’s cash balance at December 31, 2016 was $98.3 million. On a
pro forma basis, reflecting the aforementioned debt transaction in
January 2017, Amarin began 2017 with a cash balance of
approximately $112 million.
- Cash flow improving: Over the last nine months of 2016, Amarin
was cash flow neutral, excluding financing, interest, royalty and
research and development costs. On a similar basis, as previously
guided, Amarin anticipates being cash flow positive in 2017.
In 2017, Amarin anticipates spending approximately $50 million to
$60 million for research and development, with the majority of this
spending for the REDUCE-IT trial, and also increasing purchases of
supply for Vascepa both to support anticipated growth in 2017 and
to prepare for REDUCE-IT success.
“2016 was another exceptional year of progress for Amarin both
commercially and operationally,” commented John F. Thero, president
and chief executive officer. “We begin 2017 with a strong team of
motivated people, a product in Vascepa that has a positively
differentiated efficacy and safety profile, and managed care
coverage for Vascepa that was broad at the start of 2016 and
expanded further over the past year. We are pleased to observe key
opinion leaders increasing their attention to the potential impacts
on public health and the practice of medicine if REDUCE-IT achieves
the results we seek and we, of course, look forward to learning the
results of this landmark study.”
Commercial Update
During the fourth quarter, Amarin continued to see substantial
prescription growth and steady increases in prescription omega-3
and non-statin market share, particularly among detailed
physicians. Vascepa growth continues to be driven by focused
message delivery, compelling supportive data and improved managed
care coverage.
Amarin reported a 45% increase in net product revenue during Q4
2016 compared to Q4 2015, which was mostly driven by prescription
growth as the net price of Vascepa has remained relatively
flat. The majority of this prescription growth has come from
physicians called upon and educated about Vascepa by our sales
force. Based on data provided by Symphony Health Solutions and IMS
Health, estimated normalized Vascepa prescriptions totaled
approximately 286,000 and 312,000, respectively, for the three
months ended December 31, 2016. These prescription levels represent
growth of approximately 50% and 54%, respectively, from levels in
the corresponding prior year periods.
REDUCE-IT Trial Progressing on Schedule
The REDUCE-IT cardiovascular outcomes trial continues to
progress on schedule. Amarin expects the onset of the final primary
cardiovascular event to occur near the end of 2017 with report of
top-line results and publications anticipated in 2018. The
projected timing of available data from which we can report
top-line results should be easier to estimate after the interim
look which, as discussed below, is scheduled for Q3 2017. Currently
we estimate that results of the trial will become available to
Amarin and be publicly communicated in mid-2018. This estimated
timing reflects our assumptions of the time necessary to collect
vital data from all patients in the study, compile the results, and
subject the results to scrutiny of the independent review
committees and the REDUCE-IT operational team.
The 8,175-patient outcomes study is evaluating whether treatment
with Vascepa reduces cardiovascular events in patients who despite
stabilized statin therapy have elevated triglyceride levels and
other cardiovascular risk factors. The results of this important
trial, if successful, could lead to improved medical care for tens
of millions of patients. Amarin is positioned to be the first
company to complete an outcomes study in the population of patients
being studied in REDUCE-IT.
The primary endpoint of this global, double-blind study is the
time to the first occurrence of a composite of major adverse
cardiovascular events (MACE). Results will be compared
between the Vascepa and placebo groups. The study is being
conducted under a Special Protocol Assessment (SPA) agreement with
the FDA.
A second pre-specified interim efficacy and safety analysis of
REDUCE-IT is scheduled to be conducted by the independent DMC at
approximately 80% of the total 1,612 primary cardiovascular events
targeted for completion of the study. Amarin anticipates that the
onset of 80% of the target primary events will be reached in the
first half of 2017 and that the interim analysis will be conducted
before the end of Q3 2017. Consistent with the trial design,
Amarin continues to believe that the REDUCE-IT study is most likely
to continue to completion of 100% of the target events. This
is the case because the efficacy requirements detailed to the DMC
for early study stoppage after the 80% interim assessment are high
and include robustness thresholds for underlying data that go
beyond the assessment for statistical significance on the analysis
of the primary endpoint after the expected completion of the study
at 100% of planned events.
Amarin will remain blinded to results of the REDUCE-IT study
until after the study is stopped and the database is locked at
either the 80% interim analysis or at the final analysis.
Financial Update
Net product revenue for the three months ended December 31, 2016
and 2015 was $38.4 million and $26.4 million, respectively.
Net product revenue for the years ended December 31, 2016 and 2015
was $129.0 million and $81.0 million, respectively. These
increases in net product revenue were primarily attributable to
increases both in new and recurring prescriptions of Vascepa driven
by increased sales productivity.
In addition, Amarin recognized licensing revenue of $1.1 million
and $0.8 million for the years ended December 31, 2016 and 2015,
respectively, related to agreements for the commercialization of
Vascepa outside the United States. Amarin’s partners for China and
for the Middle East and North Africa are working towards regulatory
approval of Vascepa in their respective territories.
Cost of goods sold for the three months ended December 31, 2016
and 2015 was $10.2 million and $8.4 million, respectively.
Cost of goods sold for the years ended December 31, 2016 and 2015
was $34.4 million and $27.9 million, respectively. Gross
margin on product sales improved to 74% and 73% in the quarter and
year ended December 31, 2016, respectively, as compared to 68% and
66% in the quarter and year ended December 31, 2015, respectively.
The improvement in gross margin on product sales was primarily
driven by lower active pharmaceutical ingredient cost.
Selling, general and administrative (SG&A) expenses for the
three months ended December 31, 2016 and 2015 were $31.2 million
and $23.5 million, respectively. SG&A expenses in the years
ended December 31, 2016 and 2015 were $111.4 million and $101.0
million, respectively. The increase in SG&A expenses
primarily reflects an increase in sales and marketing expenses and
co-promotion fees payable to Kowa Pharmaceuticals America, Inc.
Research and development expenses for the three months ended
December 31, 2016 and 2015 were $10.2 million and $13.3 million,
respectively. Research and development expenses in the years ended
December 31, 2016 and 2015 were $50.0 million and $51.1 million,
respectively. This slight decrease was primarily driven by a
decrease in overhead costs and non-cash stock based
compensation.
Amarin reported a net loss applicable to common shareholders of
$27.5 million in the fourth quarter of 2016, or basic and diluted
loss per share of $0.10. This net loss included $3.2 million in
non-cash stock-based compensation expense and a provision for
income taxes of $12.3 million, the majority of which is
non-cash. Amarin reported a net loss applicable to common
shareholders of $21.9 million in the fourth quarter of 2015, or
basic and diluted loss per share of $0.12. This net loss
included $3.7 million in non-cash stock-based compensation expense,
a $0.7 million non-cash loss on the change in fair value of
derivatives, a $1.3 million non-cash gain on extinguishment of
debt, and a benefit from income taxes of $1.5 million.
Amarin reported a net loss applicable to common shareholders of
$86.4 million in the year ended December 31, 2016, or basic and
diluted loss per share of $0.41. This net loss included $13.6
million in non-cash stock-based compensation expense, an $8.2
million non-cash gain on the change in fair value of derivatives,
and a provision for income taxes of $10.0 million, the majority of
which is non-cash. For the year ended December 31, 2015,
Amarin reported a net loss applicable to common shareholders of
$149.1 million, or basic and diluted loss per share of $0.83.
This net loss included $13.9 million in non-cash stock-based
compensation expense, a $1.1 million non-cash loss on the change in
fair value of derivatives, a $1.3 million non-cash gain on
extinguishment of debt, $33.9 million in charges for non-cash
deemed dividends for accounting purposes, and a benefit from income
taxes of $3.1 million.
Amarin reported cash and cash equivalents of $98.3 million at
December 31, 2016. The cash balance includes $64.6 million in net
proceeds from an equity financing completed in August. The primary
purpose of that financing was to fund REDUCE-IT to completion.
During the quarter ended December 31, 2016, net cash used in
operating activities, including research and development costs, was
$19.3 million, or approximately $3.3 million excluding research and
development costs, interest and royalties. At December 31, 2016,
the company had $20.0 million in net accounts receivable ($24.1
million in gross accounts receivable before allowances and
reserves) and $20.5 million in inventory.
In January 2017, Amarin issued $30.0 million in aggregate
principal amount of 3.50% Exchangeable Senior Notes due 2047 (the
“2017 Notes”), and purchased approximately $15.0 million aggregate
principal amount of 3.50% Exchangeable Senior Notes due 2032 that
were issued in 2012 (the “2012 Notes”). Amarin was required
by the terms of the indenture governing the 2012 Notes to purchase
all 2012 Notes surrendered to it on January 19, 2017. Amarin has
initiated the process to redeem the remaining $0.1 million of
outstanding principal amount of 2012 Notes not surrendered, which
is expected to be completed in the first quarter of 2017. The
remainder of the net proceeds from the 2017 Notes will be used for
general corporate and working capital purposes. Pursuant to this
January 2017 debt restructuring, on a pro forma basis as of
December 31, 2016, Amarin had approximately $112 million in cash
and cash equivalents and $30.1 million in exchangeable debt
outstanding.
As of December 31, 2016, Amarin had approximately 269.4 million
American Depositary Shares (ADSs) and ordinary shares outstanding,
32.8 million share equivalents Series A Convertible Preferred
Shares outstanding, approximately 21.2 million equivalent shares
underlying stock options at a weighted-average exercise price of
$3.37, and 10.1 million equivalent shares underlying restricted or
deferred stock units. Conference call and
webcast information
Amarin will host a conference call at 7:30 a.m.
ET today, February 28, 2017. The call will be
webcast live with slides and accessible through the investor
relations section of the company’s website at www.amarincorp.com,
or via telephone by dialing 877-407-8033 within the United States
or 201-689-8033 from outside the United States. A replay of the
call will be made available for a period of two weeks following the
conference call. To hear the replay, dial 877-481-4010 (inside the
United States) or 919-882-2331 (outside the United States) and use
replay ID 10260.
About Amarin
Amarin Corporation plc is a biopharmaceutical company focused on
the commercialization and development of therapeutics to improve
cardiovascular health. Amarin's product development program
leverages its extensive experience in lipid science and the
potential therapeutic benefits of polyunsaturated fatty
acids. Amarin's clinical program includes a commitment to an
ongoing outcomes study. Vascepa® (icosapent ethyl), Amarin's
first FDA approved product, is a highly-pure, omega-3 fatty acid
product available by prescription. For more information about
Vascepa visit www.vascepa.com. For more information about
Amarin visit www.amarincorp.com.
About VASCEPA® (icosapent ethyl)
capsules
VASCEPA® (icosapent ethyl) capsules are a single-molecule
prescription product consisting of 1-gram or 0.5-gram of the
omega-3 acid commonly known as EPA in ethyl-ester form. Vascepa is
not fish oil, but is derived from fish through a stringent and
complex FDA-regulated manufacturing process designed to effectively
eliminate impurities and isolate and protect the single molecule
active ingredient. Vascepa is known in scientific literature as
AMR101.
FDA-approved Indication and Usage
- VASCEPA® (icosapent ethyl) is indicated as an adjunct to diet
to reduce triglyceride (TG) levels in adult patients with severe
(≥500 mg/dL) hypertriglyceridemia.
- The effect of VASCEPA on the risk for pancreatitis and
cardiovascular mortality and morbidity in patients with severe
hypertriglyceridemia has not been determined.
Important Safety Information for VASCEPA
- VASCEPA is contraindicated in patients with known
hypersensitivity (e.g., anaphylactic reaction)
to VASCEPA or any of its components.
- Use with caution in patients with known hypersensitivity to
fish and/or shellfish.
- The most common reported adverse reaction (incidence >2% and
greater than placebo) was arthralgia (2.3% for Vascepa, 1.0% for
placebo). There was no reported adverse reaction >3% and greater
than placebo.
- Patients receiving treatment with VASCEPA and other
drugs affecting coagulation (e.g., anti-platelet agents) should be
monitored periodically.
- In patients with hepatic impairment, monitor ALT and AST levels
periodically during therapy.
- Patients should be advised to
swallow VASCEPA capsules whole; not to break open, crush,
dissolve, or chew VASCEPA.
- Adverse events and product complaints may be reported by
calling
1‑855‑VASCEPA or the FDA at 1‑800‑FDA‑1088.
FULL VASCEPA PRESCRIBING INFORMATION CAN BE FOUND
AT WWW.VASCEPA.COM.
Vascepa has been approved for use by the United States Food and
Drug Administration (FDA) as an adjunct to diet to reduce
triglyceride levels in adult patients with severe (≥500 mg/dL)
hypertriglyceridemia. Vascepa is under various stages of
development for potential use in other indications that have not
been approved by the FDA. Nothing in this press release should be
construed as promoting the use of Vascepa in any indication that
has not been approved by the FDA.
Forward-looking statements
This press release contains forward-looking statements,
including statements about the future commercialization of Vascepa;
expectations regarding planned research and development expenses
and increased supply purchases; expectations regarding Vascepa
sales, revenue, costs and other financial metrics; expectations
related to Amarin’s anticipated financial performance; expectations
for event rates, interim data reviews, results and related
announcements with respect to Amarin’s REDUCE-IT cardiovascular
outcomes study; expectations related to the interim and final
outcome of the REDUCE-IT study and the anticipated successful
completion of the REDUCE-IT study; and statements regarding the
potential efficacy, safety and therapeutic benefits of
Vascepa. These forward-looking statements are not promises or
guarantees and involve substantial risks and uncertainties.
In particular, as disclosed in filings with the U.S. Securities and
Exchange Commission, these risks and uncertainties include the
following: Amarin’s ability to commercialize Vascepa in line with
company expectations will depend in part on its ability to continue
to create market demand for Vascepa through education, marketing
and sales activities, to achieve continued market acceptance of
Vascepa, to continue to receive adequate levels of reimbursement
from third-party payers, to continue to develop and maintain a
consistent source of commercial supply at a competitive price, to
comply with legal and regulatory requirements in connection with
the sale and promotion of Vascepa and to maintain patent protection
for Vascepa. Among the factors that could cause actual
results to differ materially from those described or projected
herein include the following: uncertainties associated generally
with research and development, clinical trials and related
regulatory approvals; the risk that historical REDUCE-IT clinical
trial event rates may not be predictive of future results and
related cost may increase beyond expectations; the risk that
Vascepa may not show clinically meaningful effects in REDUCE-IT or
support regulatory approvals for cardiovascular risk reduction; and
the risk that patents may not be upheld in patent litigation and
applications may not result in issued patents. A further list
and description of these risks, uncertainties and other risks
associated with an investment in Amarin can be found in Amarin's
filings with the U.S. Securities and Exchange Commission, including
its most recent Quarterly Report on Form 10-Q and upcoming Annual
Report on Form 10-K. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Amarin
undertakes no obligation to update or revise the information
contained in this press release, whether as a result of new
information, future events or circumstances or otherwise.
Important information regarding prescription data and
product revenue
The historical prescription data provided in this press release
is based on data published by third parties. References to
normalized prescriptions equate to one month’s supply of 1-gram
(120 count) and 0.5-gram (240 count) Vascepa capsules. Although
Amarin believes these data are prepared on a period to period basis
in a manner that is generally consistent and that such results are
indicative of current prescription trends, these data are based on
estimates and should not be relied upon as definitive. These data
may overstate or understate actual prescriptions. Based on other
data available to Amarin and the history of such third-party
prescription estimates in similar stages of launch of other
pharmaceutical products, Amarin believes that the trends provided
by this information can be useful to gauge current prescription
levels. There is a limited amount of information available to
determine the actual number of total prescriptions for prescription
products like Vascepa. Amarin believes that investors should view
these data with caution, as data for this single and limited period
may not be representative of a trend consistent with the results
presented or otherwise predictive of future results. Seasonal
fluctuations in pharmaceutical sales may affect future prescription
trends of Vascepa on a monthly and quarterly basis, for example, as
could changes in prescriber sentiment and other factors. Amarin
believes investors should consider its results during this quarter
together with its results over several future quarters, or longer,
and in light of seasonal fluctuations before making an assessment
about potential future performance. The commercialization and
co-promotion of a new pharmaceutical product are complex
undertakings, and Amarin's ability to effectively and profitably
commercialize Vascepa will depend in part on its ability to
continue to generate market demand for Vascepa through education,
marketing and sales activities, its ability to achieve market
acceptance of Vascepa, its ability to generate product revenue and
its ability to receive adequate levels of reimbursement from
third-party payers and its ability to benefit from continued
contributions of its Vascepa co-promotion partner, Kowa
Pharmaceuticals America, Inc. See “Risk Factors—Risks Related
to the Commercialization and Development of Vascepa” included in
Part I, Item 1A. Risk Factors in Amarin’s most recent Annual Report
on Form 10-K.
Availability of other information about
Amarin
Investors and others should note that we communicate with our
investors and the public using our company website
(www.amarincorp.com), our investor relations website
(http://investor.amarincorp.com), including but not limited to
investor presentations and investor FAQs, Securities and
Exchange Commission filings, press releases, public conference
calls and webcasts. The information that we post on these
channels and websites could be deemed to be material
information. As a result, we encourage investors, the media,
and others interested in Amarin to review the information that we
post on these channels, including our investor relations website,
on a regular basis. This list of channels may be updated from
time to time on our investor relations website and may include
social media channels. The contents of our website or these
channels, or any other website that may be accessed from our
website or these channels, shall not be deemed incorporated by
reference in any filing under the Securities Act of 1933.
CONSOLIDATED STATEMENTS OF OPERATIONS
DATA |
|
(U.S. GAAP) |
|
Unaudited |
|
|
|
|
Three months ended December 31, |
|
Twelve months ended December 31, |
|
|
(in thousands, except per share
amounts) |
|
(in thousands, except per share
amounts) |
|
|
2016 |
|
2015 |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
revenue, net |
$ |
38,403 |
|
|
$ |
26,402 |
|
|
$ |
128,966 |
|
|
$ |
80,987 |
|
|
Licensing revenue |
|
293 |
|
|
|
231 |
|
|
|
1,118 |
|
|
|
769 |
|
|
Total
revenue, net |
|
38,696 |
|
|
|
26,633 |
|
|
|
130,084 |
|
|
|
81,756 |
|
|
Less: Cost of goods
sold |
|
10,155 |
|
|
|
8,389 |
|
|
|
34,363 |
|
|
|
27,875 |
|
|
Gross
margin |
|
28,541 |
|
|
|
18,244 |
|
|
|
95,721 |
|
|
|
53,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative (1) |
|
31,225 |
|
|
|
23,519 |
|
|
|
111,372 |
|
|
|
101,041 |
|
|
Research
and development (1) |
|
10,177 |
|
|
|
13,347 |
|
|
|
49,975 |
|
|
|
51,062 |
|
|
Total
operating expenses |
|
41,402 |
|
|
|
36,866 |
|
|
|
161,347 |
|
|
|
152,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
(12,861 |
) |
|
|
(18,622 |
) |
|
|
(65,626 |
) |
|
|
(98,222 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain
(loss) on change in fair value of derivative liabilities (2) |
|
— |
|
|
|
(740 |
) |
|
|
8,170 |
|
|
|
(1,106 |
) |
|
Gain on
extinguishment of debt |
|
— |
|
|
|
1,314 |
|
|
|
— |
|
|
|
1,314 |
|
|
Interest
expense, net |
|
(2,190 |
) |
|
|
(5,295 |
) |
|
|
(18,443 |
) |
|
|
(20,048 |
) |
|
Other
expense, net |
|
(101 |
) |
|
|
(93 |
) |
|
|
(482 |
) |
|
|
(228 |
) |
|
Loss
from operations before taxes |
|
(15,152 |
) |
|
|
(23,436 |
) |
|
|
(76,381 |
) |
|
|
(118,290 |
) |
|
(Provision for) benefit from income taxes |
|
(12,301 |
) |
|
|
1,545 |
|
|
|
(9,969 |
) |
|
|
3,086 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss |
|
(27,453 |
) |
|
|
(21,891 |
) |
|
|
(86,350 |
) |
|
|
(115,204 |
) |
|
Preferred stock purchase option |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(868 |
) |
|
Preferred stock beneficial conversion features |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(32,987 |
) |
|
Net loss
applicable to common shareholders |
$ |
(27,453 |
) |
|
$ |
(21,891 |
) |
|
$ |
(86,350 |
) |
|
$ |
(149,059 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
(0.10 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.41 |
) |
|
$ |
(0.83 |
) |
|
Diluted |
$ |
(0.10 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.41 |
) |
|
$ |
(0.83 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average shares: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
269,223 |
|
|
|
183,313 |
|
|
|
211,874 |
|
|
|
180,654 |
|
|
Diluted |
|
269,223 |
|
|
|
183,313 |
|
|
|
211,874 |
|
|
|
180,654 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Excluding non-cash stock-based
compensation, selling, general and administrative expenses were
$100,011 and $90,441 for 2016 and 2015, respectively, and research
and development expenses were $47,723 and $47,782, respectively,
for the same periods. Excluding non-cash stock-based compensation
as well as co-promotion fees paid to our U.S. co-promotion partner,
selling, general and administrative expenses were $82,042 and
$82,474 for 2016 and 2015, respectively. |
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|
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(2) Non-cash gains and losses result from
changes in the fair value of a warrant derivative liability,
long-term debt derivative liabilities, and a preferred stock
purchase option derivative liability. |
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Amarin contact information:
Investor Relations:
Elisabeth Schwartz
Investor Relations and Corporate Communications
Amarin Corporation plc
In U.S.: +1 (908) 719-1315
investor.relations@amarincorp.com
Lee M. Stern
Trout Group
In U.S.: +1 (646) 378-2992
lstern@troutgroup.com
Media Inquiries:
Kristie Kuhl
Finn Partners
In U.S.: +1 (212) 583-2791
Kristie.kuhl@finnpartners.com
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