$AMRN
AMARIN CORP PLC\UK

2014 Q3 Form 10-Q Financial Statement

#000119312514400975 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $14.15M $8.403M
YoY Change 68.38%
Cost Of Revenue $5.366M $3.682M
YoY Change 45.74%
Gross Profit $8.783M $4.721M
YoY Change 86.04%
Gross Profit Margin 62.08% 56.18%
Selling, General & Admin $19.27M $28.27M
YoY Change -31.85% 111.05%
% of Gross Profit 219.4% 598.9%
Research & Development $14.46M $16.82M
YoY Change -14.05% -19.57%
% of Gross Profit 164.6% 356.3%
Depreciation & Amortization $210.0K $230.0K
YoY Change -8.7% 53.33%
% of Gross Profit 2.39% 4.87%
Operating Expenses $33.73M $45.10M
YoY Change -25.21% 31.43%
Operating Profit -$24.94M -$40.37M
YoY Change -38.22% 17.67%
Interest Expense -$4.876M -$8.441M
YoY Change -42.23% 84.7%
% of Operating Profit
Other Income/Expense, Net -$247.0K -$302.0K
YoY Change -18.21% -29.27%
Pretax Income -$25.60M -$50.52M
YoY Change -49.32% 121.06%
Income Tax $449.0K -$1.635M
% Of Pretax Income
Net Earnings -$26.05M -$48.88M
YoY Change -46.71% 84.98%
Net Earnings / Revenue -184.11% -581.74%
Basic Earnings Per Share -$0.15 -$0.29
Diluted Earnings Per Share -$0.17 -$0.29
COMMON SHARES
Basic Shares Outstanding 174.5M shares 170.2M shares
Diluted Shares Outstanding 175.1M shares 170.2M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.4M $225.9M
YoY Change -40.06% 5.02%
Cash & Equivalents $135.4M $225.9M
Short-Term Investments
Other Short-Term Assets $2.980M $3.537M
YoY Change -15.75% -13.94%
Inventory $11.89M $27.08M
Prepaid Expenses
Receivables $6.667M $3.721M
Other Receivables $0.00 $0.00
Total Short-Term Assets $158.0M $262.6M
YoY Change -39.81% 14.79%
LONG-TERM ASSETS
Property, Plant & Equipment $424.0K $646.0K
YoY Change -34.37% -18.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.823M $5.335M
YoY Change -9.6% -65.96%
Total Long-Term Assets $27.33M $31.28M
YoY Change -12.63% 19.15%
TOTAL ASSETS
Total Short-Term Assets $158.0M $262.6M
Total Long-Term Assets $27.33M $31.28M
Total Assets $185.4M $293.8M
YoY Change -36.91% 15.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.059M $6.233M
YoY Change -2.79% -54.49%
Accrued Expenses $15.40M $12.50M
YoY Change 23.2% -33.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $13.79M $10.90M
YoY Change 26.51%
Total Short-Term Liabilities $35.34M $31.30M
YoY Change 12.89% -3.73%
LONG-TERM LIABILITIES
Long-Term Debt $89.15M $87.32M
YoY Change 2.1% -33.23%
Other Long-Term Liabilities $640.0K $811.0K
YoY Change -21.09% 15.53%
Total Long-Term Liabilities $89.79M $88.13M
YoY Change 1.89% -32.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.34M $31.30M
Total Long-Term Liabilities $89.79M $88.13M
Total Liabilities $254.6M $311.5M
YoY Change -18.27% 22.19%
SHAREHOLDERS EQUITY
Retained Earnings -$950.6M -$898.5M
YoY Change 5.8% 21.9%
Common Stock $881.6M $881.0M
YoY Change 0.07% 19.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $217.0K $217.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares 20.08K shares 20.08K shares
Shareholders Equity -$69.24M -$17.70M
YoY Change
Total Liabilities & Shareholders Equity $185.4M $293.8M
YoY Change -36.91% 15.23%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$26.05M -$48.88M
YoY Change -46.71% 84.98%
Depreciation, Depletion And Amortization $210.0K $230.0K
YoY Change -8.7% 53.33%
Cash From Operating Activities -$19.88M -$44.84M
YoY Change -55.66% 13.75%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.790M 121.3M
YoY Change -96.05% 2375.51%
NET CHANGE
Cash From Operating Activities -19.88M -44.84M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 4.790M 121.3M
Net Change In Cash -15.09M 76.46M
YoY Change -119.74% -317.52%
FREE CASH FLOW
Cash From Operating Activities -$19.88M -$44.84M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$19.88M -$44.84M
YoY Change -55.66% 14.39%

Facts In Submission

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<div> <p style="margin-top:18px;margin-bottom:0px; margin-left:2%"> <font style="font-family:Times New Roman" size="2"><b><i><u>Deferred Revenue</u></i></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Deferred revenue represents product shipments to Distributors for which the Company has invoiced the Distributors but not recognized as revenue because the product was not reported to the Company as having been resold for the purpose of filling prescriptions. Commencing on January&#xA0;1, 2014, the Company recognizes revenue based on product shipments to its Distributors and as a result, no deferred revenue was recorded as of September&#xA0;30, 2014.</font></p> </div>
dei Document Type
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10-Q
dei Entity Registrant Name
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AMARIN CORP PLC\UK
dei Trading Symbol
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AMRN
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<div> <p style="margin-top:6px;margin-bottom:0px; margin-left:2%"> <font style="font-family:Times New Roman" size="2"><b><i><u>Use of Estimates</u></i></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The preparation of the Company&#x2019;s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Accounting estimates are based on historical experience and other factors that are considered reasonable under the circumstances. Actual results could differ from those estimates.</font></p> </div>
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18px;margin-bottom:0px; margin-left:2%"> <font style="font-family:Times New Roman" size="2"><b><i><u>Concentration of Credit Risk</u></i></b></font></p> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains substantially all of its cash and cash equivalents in financial institutions believed to be of high-credit quality.</font></p> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">A significant portion of the Company&#x2019;s sales are to wholesalers in the pharmaceutical industry. The Company monitors the creditworthiness of customers to whom it grants credit terms and has not experienced any credit losses. The Company does not require collateral or any other security to support credit sales. The Company&#x2019;s top three customers accounted for 95% and 96% of gross product sales for the nine months ending September&#xA0;30, 2014 and 2013, respectively and represented 96% and 98% of the gross accounts receivable balance as of September&#xA0;30, 2014 and September&#xA0;30, 2013, respectively.</font></p> </div>
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%; MARGIN-TOP: 18px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i><u>Long Term Debt Derivative Liabilities</u></i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company&#x2019;s December 2012 financing agreement with BioPharma Secured Debt Fund II Holdings Cayman LP (discussed in Note&#xA0;6 below) contains a redemption feature whereby, upon a change of control, the Company would be required to pay $140 million, less any previously repaid amount, if the change of control occurs on or before December&#xA0;31, 2013, or required to repay $150 million, less any previously repaid amount, if the change of control event occurs after December&#xA0;31, 2013. The Company determined this redemption feature to be an embedded derivative, which is carried at fair value and is classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs.&#xA0;The fair value of the embedded derivative was calculated using a probability-weighted model incorporating management estimates for potential change in control, and by determining the fair value of the debt with and without the change in control provision included. The difference between the two was determined to be the fair value of the embedded derivative. At September&#xA0;30, 2014, the fair value of the derivative was determined to be $4.6 million, and the debt was valued by comparing debt issues of similar companies with (i)&#xA0;remaining terms of between 2.5 and 3.9 years, (ii)&#xA0;coupon rates of between 9.8% and 10.8% and (iii)&#xA0;market yields of between 8.9% and 17.2%. The Company recognized a $6.5 million gain on change in fair value of derivative liability for the nine months ended September&#xA0;30, 2014. The Company recognized a $7.4 million gain on change in fair value of derivative liability for the nine months ended September&#xA0;30, 2013. At December&#xA0;31, 2013, the fair value of the derivative was determined to be $11.1 million, and the debt was valued by comparing debt issues of similar companies with (i)&#xA0;remaining terms of between 3.3 and 6.6 years, (ii)&#xA0;coupon rates of between 9.9% and 12.5% and (iii)&#xA0;market yields of between 9.0% and 29.4%.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company&#x2019;s 2014 Notes contain a redemption feature whereby, upon occurrence of a change in control, the Company would be required to repurchase the notes. The Company determined this redemption feature to be an embedded derivative, requiring bifurcation in accordance with ASC 815. The derivative is carried at fair value and is classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs.&#xA0;The fair value of the embedded derivative was calculated using a probability-weighted model incorporating management estimates of the probability of a change in control occurring, and by determining the fair value of the debt with and without the change in control provision included. The difference between the two was determined to be the fair value of the embedded derivative. At September&#xA0;30, 2014, the fair value of the derivative was determined to be $4.4 million, and the debt was valued by using (i)&#xA0;the remaining term of the notes, (ii)&#xA0;a bond yield of 22.6%, (iii)&#xA0;a risk-free interest rate of 3.2% and (iv)&#xA0;volatility of 83.0%. The Company recognized a $0.9 million loss on change in fair value of derivative liability for the nine months ended September&#xA0;30, 2014.</font></p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The change in the fair value of derivative liabilities is as follows (in thousands):</font></p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="56%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>October<br /> 2009<br /> Warrants</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b><font style="WHITE-SPACE: nowrap">Long-Term&#xA0;Debt</font><br /> Derivative<br /> Liabilities</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Totals</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Balance at December&#xA0;31, 2013</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>6,894</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>11,100</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>17,994</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Record initial fair value of derivative liability on 2014 senior notes</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2014;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,500</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,500</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Gain on change in fair value of derivative liabilities</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(6,270</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(5,600</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(11,870</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Compensation income for change in fair value of warrants issued to former employees</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(503</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2014;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(503</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Balance at September&#xA0;30, 2014</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>121</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>9,000</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>9,121</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>October<br /> 2009<br /> Warrants</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b><font style="WHITE-SPACE: nowrap">Long-Term&#xA0;Debt</font><br /> Derivative<br /> Liability</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Foreign<br /> Exchange<br /> Contracts</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Totals</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Balance at December&#xA0;31, 2012</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>54,854</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>14,577</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#x2014;&#xA0;&#xA0;</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>69,431</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">(Gain) loss on change in fair value of derivative liability</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(14,077</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(7,377</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">395</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(21,059</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Compensation income for change in fair value of warrants issued to former employees</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(1,179</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2014;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2014;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(1,179</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">)&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Balance at September&#xA0;30, 2013</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>39,598</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>7,200</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>395</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>47,193</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>&#xA0;&#xA0;</b></font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div>
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234500 shares
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-43480000
us-gaap Increase Decrease In Restricted Cash
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us-gaap Repayments Of Long Term Capital Lease Obligations
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64000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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us-gaap Debt Instrument Increase Decrease For Period Net
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us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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us-gaap Increase Decrease In Inventories
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-14805000
us-gaap Stock Issued During Period Value Stock Options Exercised
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-75755000
us-gaap Interest Income Expense Nonoperating Net
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-13565000
us-gaap Income Taxes Paid
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Other Nonoperating Income Expense
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us-gaap Gain Loss On Derivative Instruments Net Pretax
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6500000
us-gaap Revenues
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37722000
us-gaap Net Income Loss Available To Common Stockholders Basic
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-36707000
us-gaap Net Income Loss
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-36707000
us-gaap Interest Paid
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8622000
us-gaap Increase Decrease In Accounts Receivable
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3022000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6272000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
1000
us-gaap Increase Decrease In Other Current Assets
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1371000
us-gaap Gains Losses On Extinguishment Of Debt
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38034000
us-gaap Deferred Income Tax Expense Benefit
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82000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1703000
us-gaap Operating Expenses
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98840000
us-gaap Research And Development Expense
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37891000
us-gaap Selling General And Administrative Expense
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60949000
us-gaap Amortization Of Financing Costs And Discounts
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4039000
us-gaap Amortization Of Intangible Assets
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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-56079000
us-gaap Income Tax Expense Benefit
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1285000
us-gaap Cost Of Goods Sold
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14637000
us-gaap Depreciation And Amortization
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155000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2606000
us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
1000
us-gaap Proceeds From Stock Options Exercised
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307000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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5456000
us-gaap Proceeds From Warrant Exercises
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1651000
us-gaap Direct Operating Costs
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14637000
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
13755000
amrn Repurchase Of Conversion Options On Long Term Debt
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10100000
amrn Proceeds From Refund Of Stock Issuance Costs
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3191000
amrn Adjustments To Additional Paid In Capital Stock Issued Issuance Costs Refund
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amrn Provision Related To Prior Period Sales
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amrn Amount Of Potential Future Financial Obligations
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amrn Product Sales
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37722000
amrn Significant Assumptions In Market Price Of Stock
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1651000
amrn Range Of Percentage Of Gross Margin Payable For Co Promotion Agreement
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amrn Cash Discount Invoice Terms
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amrn Proceeds From Warrant Exercises Gross
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-26050000
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-26050000
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33727000
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5366000
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3191000

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