As part of Amarin's program for communicating further details of its clinical results to the scientific community, Amarin expects to present ANCHOR data related to the diabetic subgroup at the European Society of Cardiology on August 26 th in Munich, Germany.
Amarin reported cash and cash equivalents of $250.3 million at June 30, 2012, the end of its second quarter, representing an increase of approximately $4.5 million from the company's cash balance at the end of its first quarter primarily due to the exercise of warrants and stock options during the three months ended June 30, 2012. During the three months ended June 30, 2012, cash outflows were approximately $18.6 million. Included in these cash outflows were payments to clinical research organizations in connection with Amarin's Vascepa clinical trial activities as well as various costs associated with commercial readiness and expanded patent prosecution. Amarin's cash outflows during this period were partially offset by $20.8 million in net proceeds from the exercise of warrants and stock options.Under U.S. Generally Accepted Accounting Principles (GAAP), Amarin reported a net loss for the three months ended June 30, 2012 of $53.9 million, or basic and diluted loss per share of $0.38, including $4.8 million in share-based compensation expense, $1.9 million in warrant compensation expense, and a $18.9 million loss on the change in the fair value of non-cash financial derivative. For the same period in 2011, GAAP net loss was $202.1 million, or basic and diluted loss per share of $1.58, including $1.8 million in share-based compensation expense, $5.0 million in warrant compensation expense, and $185.4 million loss on the change in the fair value of non-cash financial derivative. Excluding non-cash losses for share-based, warrant-based compensation and change in value of derivative, non-GAAP adjusted net loss was $28.3 million for the second quarter of 2012 (basic and diluted loss per share of $0.20) compared to a non-GAAP adjusted net loss of $9.9 million (basic and diluted loss per share of $0.08) for the same period in the prior year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV