The company ended 2023 with cash of around $321 million and investments, with a positive cash flow of about $10 million.
Amarin says it is on track to deliver $40 million of annual savings based on the reduction in force announced in July 2023.
Share Buyback: Amarin entered into a conditional share repurchase agreement with Cantor Fitzgerald & Co. to buy up to $50 million of its ordinary shares in American depository shares (ADSs).
Amarin anticipates completing this initiative by the end of Q2 2024, with share repurchases commencing shortly after.
Price Action: AMRN shares are up 28% at $1.24 on the last check Wednesday.
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