Amarin Corporation Reports 42% Revenue Decline in Q2 2026

Amarin Corporation plc reported a significant decline in its financial performance for the second quarter of 2026, with total revenue decreasing by 42% to $42.2 million compared to $72.7 million in the same period last year. This decline was primarily driven by a substantial drop in licensing and royalty revenue, which fell from $26.1 million to $3.1 million, largely due to the absence of a $25 million upfront payment recognized in the previous year from a licensing agreement with Recordati. Product revenue also decreased, with U.S. sales dropping from $36.5 million to $32.2 million, reflecting lower net selling prices and a shift in customer mix.

In terms of operational metrics, Amarin's gross margin for the quarter fell to 30% from 52% in the prior year, attributed to changes in customer mix and increased costs associated with the cost of goods sold, which rose by 22% to $27.2 million. The company reported a net loss of $7.7 million for the quarter, an improvement from a loss of $14.1 million in the same period last year. This improvement was supported by a reduction in selling, general, and administrative expenses, which decreased by 43% to $22.2 million, largely due to cost-saving measures implemented as part of a global restructuring plan.

Amarin's strategic developments included the transition of its European operations to Recordati, which is now responsible for the commercialization of VASCEPA in 59 countries. This transition is expected to streamline operations and enhance market penetration in Europe. The company also reported an increase in its market share of the IPE market in the U.S. to approximately 48%, up from 43% a year earlier, despite facing competition from generic versions of its product.

As of June 30, 2026, Amarin had total assets of $624.4 million, with cash and cash equivalents amounting to $143.6 million and short-term investments of $171.1 million. The company has no outstanding debt and reported a significant increase in cash provided by operating activities, totaling $13 million for the first half of 2026, compared to $4.1 million in the same period of 2025. Looking ahead, Amarin remains focused on managing its market leadership in the U.S. and expanding access to VASCEPA through ongoing partnerships and commercialization efforts in international markets.