Amarin Raises Sales Guidance, Shares Trade Higher

Amarin Corp AMRN shares are trading higher after the company raised FY2019 sales guidance.

The company raised its sales guidance from $350 million to $380 million-$420 million, compared to the $364.78 million estimate.

Amarin ended June with no debt except the remaining balance on its royalty bearing instrument, which is repaid at a rate of 10% of Vascepa revenues. The company adds that forecasting Vascepa revenue levels at this early stage remains difficult.

“While Amarin remains optimistic that Vascepa will generate billions of dollars in revenue in the years to come, the history of other therapies for chronic conditions suggests that growth builds over multiple years, and thus, the company is not prepared to provide quantified guidance regarding revenue levels beyond 2019,” the company said in a statement.

Amarin shares traded higher by 7.6% at $20.70 in Tuesday's pre-market session.

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