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Development, Commercialization and Supply Agreements (Tables) | 9 Months Ended
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Sep. 30, 2024
License And Collaboration Agreements [Line Items] |
Summary of Licensing Revenue |
In thousands |  | Amount |
Licensing revenue recognized during the nine months ended September 30, 2024 (1) |  | $ | 19,426 |
Licensing revenue recognized during the nine months ended September 30, 2023 (1) |  |  | 9,400 |
Licensing revenue recognized from contract inception through September 30, 2024 |  |  | 40,081 |
Licensing revenue recognized from contract inception through December 31, 2023 |  | $ | 20,655 |
(1) Licensing revenue under the DCS Agreement is recognized concurrent with the input measure of support hours provided by Amarin to Edding in achieving the combined development and regulatory performance obligation, which in the Company’s judgment is the best measure of progress towards satisfying this performance obligation.
Summary of Product Approval | The Company received approval of VASCEPA under the MARINE and REDUCE-IT indications in the following countries:
Country |  | MARINE |  | REDUCE-IT |  | Launch Date
Lebanon |  | March 2018 |  | August 2021 |  | June 2018
United Arab Emirates |  | July 2018 |  | October 2021 |  | February 2019
Qatar |  | December 2019 |  | April 2021 |  | N/A
Bahrain |  | April 2021 |  | April 2022 |  | N/A
Kuwait |  | December 2021 |  | March 2023 |  | September 2023
Saudi Arabia |  | March 2022 |  | June 2023 |  | September 2023
Changes in Balances of Contract Assets and Liabilities and Revenues Recognized | The following table presents changes in the balances of the Company’s contract assets and liabilities during the nine months ended September 30, 2024 and 2023:
In thousands | Balance at Beginning of Period |  |  | Additions |  |  | Deductions |  |  | Balance at End of Period |
Nine months ended September 30, 2024: |  |  |  |  |  |  |  |  |  |  |
Contract assets | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Contract liabilities: |  |  |  |  |  |  |  |  |  |  |
Deferred revenue 1 | $ | 4,850 |  |  | $ | — |  |  | $ | (4,850 | ) |  | $ | — |
Nine months ended September 30, 2023: |  |  |  |  |  |  |  |  |  |  |
Contract assets | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Contract liabilities: |  |  |  |  |  |  |  |  |  |  |
Deferred revenue 2 | $ | 15,346 |  |  | $ | 5,000 |  |  | $ | (15,372 | ) |  | $ | 4,974 |
(1) The approximately $4.9 million reduction consists primarily of recognition of $4.0 million relating to the change in estimate for Edding during the three months ended June 30, 2024. (2) The approximately $15.0 million reduction consists of recognition of $5.0 million and $5.3 million relating to the change in estimate for Edding and HLS, respectively, as well as recognizing, based on the revised timeline, $3.9 million for the MARINE indication approval in China achieved during the three months ended June 30, 2023. During the nine months ended September 30, 2024 and 2023, the Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods:
In thousands | Nine months ended September 30, |
Revenue recognized in the period from: | 2024 |  |  | 2023 |
Amounts included in contract liability at the beginning of the period | $ | 1,180 |  |  | $ | 11,479 |
Performance obligations satisfied in previous periods | $ | 3,670 |  |  | $ | 1,722 |
Edding |
License And Collaboration Agreements [Line Items] |
Summary of Transaction Price Comprising Upfront Payments and Milestones | The transaction price is comprised of the following upfront payments and milestones:
In thousands |  |  |  |  |
Transaction Price Components |  | Achieved |  | Amount |
Upfront fee |  | February 2015 |  | $ | 15,000 |
Submission of the CTA for the MARINE indication |  | March 2016 |  |  | 1,000 |
Approval of VASCEPA under the MARINE indication |  | March 2017 |  |  | 5,000 |
Submission of the CTA for the REDUCE-IT indication |  | October 2023 |  |  | 3,000 |
Approval of VASCEPA under the REDUCE-IT indication |  | June 2024 |  |  | 15,000 |
Regulatory Development Support |  | Various |  |  | 1,081 |
Total Transaction Price |  |  |  | $ | 40,081 |
HLS |
License And Collaboration Agreements [Line Items] |
Summary of Transaction Price Comprising Upfront Payments and Milestones | The transaction price is comprised of the following upfront payments and milestones:
In thousands |  |  |  |  |
Transaction Price Components |  | Achieved |  | Amount |
Upfront fee |  | September 2017 |  | $ | 5,000 |
Achievement of the REDUCE-IT trial primary endpoint |  | September 2018 |  |  | 2,500 |
Approval from Health Canada |  | December 2019 |  |  | 2,500 |
Regulatory exclusivity from the Office of Patented Medicines and Liaison |  | January 2020 |  |  | 3,800 |
Total Transaction Price |  |  |  | $ | 13,800 |

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