Amarin's Q2 Earnings Beat Estimates, Revenues Fall Short

Year to date, Amarin's shares have seen no change, compared with the industry’s 4.5% growth.

Image Source: Zacks Investment Research

AMRN's Q2 Earnings in Detail

Amarin’s top line comprises product revenues from its sole marketed drug, Vascepa (icosapent ethyl), along with licensing and royalty revenues. The drug is approved as an adjunct to diet for the treatment of severe hypertriglyceridemia and to reduce cardiovascular risk in patients with persistently elevated triglycerides on statin therapy for LDL-C.

Net product revenues from Vascepa in the second quarter were $39.1 million, down 16% year over year. This metric missed the Zacks Consensus Estimate of $43.1 million and our model estimates of $43.3 million.

U.S. product revenues from Vascepa declined 12% year over year and 9.5% sequentially to $32.2 million. The decrease was primarily due to ongoing generic erosion, which continued to pressure net pricing.

Product revenues from Vazkepa (Vascepa’s brand name in Europe) in the European market totaled $5.4 million, decreasing 17% from the year-ago quarter. This reflected the company’s transition to a fully partnered model with Recordati in the European market. However, Vazkepa sales increased 10.2% sequentially.

Revenues in the Rest of the World were $1.4 million compared with $3.5 million in the year-ago quarter. The decline primarily reflected normal fluctuations in partner purchasing patterns and the timing of shipments across multiple international markets. However, Amarin expects combined in-market demand across its global partner markets to continue growing.

Licensing and royalty revenues totaled $3.1 million, declining 88% year over year.

AMRN’s Operating Expenses & Cash Balance

Selling, general and administrative expenses (excluding stock-based compensation expense) declined 42.5% year over year to $20.6 million.

Research and development expenses (excluding stock-based compensation expense) totaled $4.3 million, roughly consistent with the prior-year quarter.

Amarin ended the quarter with cash and investments of $314.6 million compared with $307.8 million as of March 31, 2026, and remained debt free.

AMRN's Recent Key Developments

Amarin continued to execute on its strategic transformation during the second quarter of 2026 following its exclusive long-term licensing and supply agreement with Recordati, signed in June 2025, to commercialize Vazkepa across 59 European-focused markets. The partnership has enabled the company to significantly lower its operating cost base while expanding Vazkepa's commercial footprint in Europe.

As of June 30, 2026, the product was commercially available in 22 countries, including 11 European markets. In the United States, Amarin strengthened its leadership in the branded icosapent ethyl market, increasing its market share to 48% from 43% a year earlier, while branded Vascepa prescriptions grew 14% year over year. The company expects U.S. prescription volumes to remain stable throughout fiscal 2026.

AMRN completed its previously announced $70 million annual cost-savings initiative this quarter. Management expects improved cost efficiency and sustained positive cash flow in 2026.

AMRN's Zacks Rank & Other Stocks to Consider

Amarin currently sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Liquidia Corporation LQDA and Neurocrine Biosciences NBIX. While HRMY and LQDA sport a Zacks Rank #1 each at present, NBIX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 90 days, earnings per share estimates for Harmony Biosciences have decreased from $3.34 to $3.30 for 2026. Over the same period, estimates for earnings per share increased from $3.79 to $3.87 for 2027. HRMY shares have lost 4.4% year to date.

Harmony Biosciences missed on earnings in each of the trailing four quarters, delivering an average negative surprise of 25.16%.

Over the past 90 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $5.31 from $2.91. LQDA shares have surged 151.7% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 90 days, estimates for Neurocrine Biosciences’ 2026 earnings per share have risen from $8.00 to $9.09. Over the same period, EPS estimates for 2027 have increased from $9.48 to $10.81. NBIX shares have gained 28.9% year to date.

Neurocrine Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 9.08%.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research