Amarin raised outlook on revenue, sending its shares surging +10% Tuesday.
The biopharmaceutical company lifted its 2019 revenue guidance to a range of between $380 million and $420 million, up from prior forecast of $350 million.
The company’s higher guidance comes on the back of its optimism about its Vascepa treatment for chronic cardiovascular disease. It is hopeful that Vascepa will generate “billions of dollars in revenue in the years to come”.
Amarin reported first-quarter revenue of $73.3 million, which represents a 67% jump from the same quarter of the previous year. It is also higher than the $67.3 million expected by analysts polled by FactSet.