Amarin Corporation plc (NASDAQ: AMRN) is having a strong start to the trading session this morning, trading on gains of more than 3%. The gains come after the company reported its quarterly results. Here’s what’s going on:
AMRN Stock Gains After Q3 Report
In a press release issued early this morning, Amarin announced its results for the third quarter and first nine months. In this particular report, there were quite a few highlights to note.
First and foremost, AMRN said that record prescriptions led to record revenue. During the quarter, the company realized 865,000 prescriptions, compared to 458,000 in the quarter one year ago. As such, Vascepa prescriptions were up about 89% during the quarter on a year over year basis.
Of course, record prescriptions will generally drive record revenue, and that’s exactly what we saw. During the quarter, revenues came in at $112.4 million. For the nine month period, revenues came in at $286.5 million. These figures represented year over year increases of 103% and 89%, respectively.
While Vascepa prescriptions are hitting record levels, what we’re seeing now is nothing compared to the potential of Vascepa ahead. The company has real potential to turn Vascepa into a blockbuster. Here’s why:
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