Why Investors Were Giving Amarin the Cold Shoulder Today
2022 hasn't been a good year for cardiovascular drug maker Amarin (NASDAQ: AMRN), and this was compounded after the company released its latest set of quarterly figures Wednesday morning. Investors reacted clearly and immediately to this by trading out of the stock; as of late afternoon trading it was down by almost 5%.
For the quarter, Amarin took in revenue of $94.4 million, some distance down from the more than $154 million it earned in the same quarter last year. On the bottom line, the company plunged rather violently into the red, posting a $35.6 million ($0.09 per share) non-GAAP (adjusted) loss against the $10.3 billion profit of the year-ago quarter.
While analysts were collectively modeling only $87.6 million on the top line, they believed the pharmaceutical company would post a narrower adjusted net loss of $0.06 per share.
Source Fool.com
