logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Amarin (AMRN) Plunges Again on FDA Announcement

By  +Follow October 30, 2013 9:36AM
Share:
Tickers Mentioned:

Amarin Pharmaceuticals (AMRN) took another hit Wednesday during a year that’s been a rough one for the company as a whole. Amarin was off over 14 percent in trading on Wednesday after the FDA told the company on Tuesday that its triglyceride-reducing drug, Vascepa, didn’t show strong enough results to merit approval.

Vascepa Fails to Show Results

The FDA contacted Amarin after market-close on Tuesday to report that Vascepa failed to reduce triglycerides enough to be marketed to patients for reducing the risk of cardiovascular disease. Vascepa is a prescription-strength supplement that uses Omega-3 fatty acids from fish oils. The drug was approved in 2012 for use in some patients with unusually high triglyceride levels, but the FDA reversed that ruling on Tuesday, sending shares lower.

This comes just two weeks after an FDA panel voted against approval of Vascepa and called for a lengthy and expensive study on the drug’s ability to prevent cardiovascular events like heart attacks, a decision that came as a surprise for many. The decision prompted Amarin to cut staff and prompted a nearly 60 percent decline in the company’s stock.

A Tough Year for Amarin

Today’s hit is a bad one. But in a year that’s seen shares plunge over 85 percent since Halloween in 2012, it’s probably not going to register for any long-time Amarin stockholders. The company has few options other than to continue running losses while engaging in the lengthy Vascepa study without a clear sense that there’s a light at the end of the tunnel.

With the layoffs last week, Amarin’s situation appears bleak, though not entirely unmanageable. Amarin believes that it has the cash on hand to make it through the next few years without raising additional capital.

“As of September 30, 2013, Amarin had cash, cash equivalents of approximately $226 million,” the company announced last Tuesday. “Amarin anticipates approximately $3 million in restructuring expense in association with this reduction in staffing. The company currently expects its cash burn for 2014 to be less than $80 million. The company has no plans for raising additional capital at this time. Amarin intends to continue its evaluation of priorities, opportunities and savings opportunities, including clinical trial costs. The company plans to provide additional details of its future spending and operational expectations in connection with its upcoming quarterly report.”

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for AMRN
StockenheimerSchmidt
28 Jul 15 08:16:24
Huge Gains On Stock Picks, Plus A Major Announcment: http://t.co/L7DCrvU4Ev $PHMB $FNRC $AMRN
akimaddo
28 Jul 15 07:24:54
$AMRN with NCA approval and ob in August, is this a buy? Why this not reflected in the share price today and leading to OB update in August
Stock Dawgzz
28 Jul 15 07:08:44
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 350% In 2 Weeks! Big Update: http://t.co/OpH8n57Fki $PHMB $FNRC $AMRN
Stock Chat and Forum
28 Jul 15 06:58:35
$GHDC Bottom Bounce Chart http://t.co/hKtnFbII85 Gains $$ $IGEX $AVXL $MJMJ $CTIX $PPHM $SUTI $FNMA $AMRN $INMG $WMIH $GHDC $GHDC $GHDC
StockHideout
28 Jul 15 06:58:27
$GHDC Bottom Bounce Chart http://t.co/LevOEqBpWi Gains $$ $IGEX $AVXL $MJMJ $CTIX $PPHM $SUTI $FNMA $AMRN $INMG $WMIH $GHDC $GHDC $GHDC
PennyStockSpy
28 Jul 15 06:58:16
$GHDC Bottom Bounce Chart http://t.co/E7TSHqgYQk Gains $$ $IGEX $AVXL $MJMJ $CTIX $PPHM $SUTI $FNMA $AMRN $INMG $WMIH $GHDC $GHDC $GHDC
OTC FIRE
28 Jul 15 06:57:45
$GHDC Bottom Bounce Chart http://t.co/kc1h0YfGfJ Gains $$ $IGEX $AVXL $MJMJ $CTIX $PPHM $SUTI $FNMA $AMRN $INMG $WMIH $GHDC $GHDC $GHDC
Mark Trader
28 Jul 15 05:58:14
100% non-compensated picks at http://t.co/R6BGOmTldH. That is awesome. Related: $MNGA $AMRN $EXEL $HEMP $IVANF $MHR $CYTX
VP of Something
28 Jul 15 05:10:04
$AMRN. FDA to Court: Buzz off. To AMRN: Bite me. #IfYouCantBeatEmEnjoinEm
IH NASDAQ OMX
28 Jul 15 03:49:35
UNG United States Natural Gas Fund News http://t.co/nVcM7166JC $UNG $AMRN $FONR $PZN #UNG #invest #tradeideas
lookn4wins
28 Jul 15 03:45:09
OPK Opko Health Inc. Tick http://t.co/pSdW31ck69 $OPK $XOM $AMGN $AMRN #OPK #invest #stockmarket
Stock_Tracker
28 Jul 15 03:45:08
PFE Pfizer, Inc. Last Price http://t.co/UDVLVbYaYT $PFE $UNG $XLF $AMRN #PFE #investing #share
clayton
28 Jul 15 03:43:06
MMRF MMRGlobal Inc. EOD Data http://t.co/CyTJRqhwzB $MMRF $AMRN $FIT $PTK.V #MMRF #pennystocks #stockmarket
Rosner Stocks
28 Jul 15 03:40:06
GLD SPDR Gold Trust Shares Exchange http://t.co/7RwfHDEDZa $GLD $EWA $AMRN $PZN #GLD #invest #tradeideas
Jake13
28 Jul 15 03:39:36
GNW Genworth Financial Inc. Stock Forum http://t.co/hhe3yD6co8 $GNW $AMRN $DIS $NYMX #GNW #share #pennystocks
Rosner Stocks
28 Jul 15 03:39:10
FV First Trust Dorsey Wright Focus 5 ETF News http://t.co/JhcaAGA0WU $FV $TSLA $ERY $AMRN #FV #pennystocks #investing
PolgarStocks
28 Jul 15 03:39:09
FM.TO First Quantum Minerals Ltd. Message Board Posts http://t.co/wUVECcbH6X $FM.TO $GILD $AMGN $AMRN #FM.TO #tradeideas #pennystocks
Investors Hangout
28 Jul 15 03:37:42
EWQ France iShares Financials http://t.co/5IewGhinSW $EWQ $KGC $ZIOP $AMRN #EWQ #nasdaq #stock
IH News Desk
28 Jul 15 03:37:15
EEM iShares MSCI Emerging Markets Change http://t.co/uFAPsJN2ew $EEM $AMRN $FV $SMN #EEM #stocks #nasdaq
nasdaqfan
28 Jul 15 03:33:12
AMRN Amarin Corp. PLC ADS EOD Data http://t.co/41AsRvcnzG $AMRN $SLV $ECA $HZNP #AMRN #nasdaq #stock
Rosner Stocks
28 Jul 15 03:33:09
AMRN Amarin Corp. PLC ADS Bid Size http://t.co/zoZIREm1FP $AMRN $XLY $GPRO $ABMD #AMRN #pennystocks #stockmarket
Investors Hangout
28 Jul 15 03:32:13
AMRN Amarin Corp. PLC ADS Chart http://t.co/NmGC5QSUBo $AMRN $FEYE $AMGN $GPRO #AMRN #investing #stockmarket
Stock Forums
28 Jul 15 03:32:11
AMRN Amarin Corp. PLC ADS Short Sales http://t.co/ppQG11K8Xq $AMRN $WFC $SPXL $GILD #AMRN #stocks #pennystocks
lookn4wins
28 Jul 15 03:32:11
AMBS Amarantus Bioscience Holdings, Inc. Filings http://t.co/oygscqbVsL $AMBS $IBM $AMRN $XME #AMBS #invest #finance
lookn4wins
28 Jul 15 03:31:43
AEM Agnico Eagle Mines Ltd. Day High http://t.co/1s0uw4BI8C $AEM $GOOG $AMRN $RY.TO #AEM #share #stock
StockenheimerSchmidt
27 Jul 15 23:54:14
Huge Gains On Stock Picks, Plus A Major Announcment: http://t.co/L7DCrvU4Ev $PHMB $FNRC $AMRN
Michael James
27 Jul 15 23:34:25
Our Stock Alert On $GEQU Gained As Much As 525% In The Past 4 Weeks! Huge News: http://t.co/BUzFRMjvXX $PHMB $FNRC $AMRN
binaryoptionsocial
27 Jul 15 23:17:35
NEM Newmont Mining Corp. P/E Ratio http://t.co/gSi3b5ewIU $NEM $KO $AMRN $GDXJ #NEM #invest #nasdaq … … … http://t.co/Csk7miIhta
binaryoptionsocial
27 Jul 15 23:06:33
NEM Newmont Mining Corp. P/E Ratio http://t.co/gSi3b5ewIU $NEM $KO $AMRN $GDXJ #NEM #invest #nasdaq … … http://t.co/Csk7miIhta
binaryoptionsocial
27 Jul 15 23:02:34
NEM Newmont Mining Corp. P/E Ratio http://t.co/gSi3b5ewIU $NEM $KO $AMRN $GDXJ #NEM #invest #nasdaq … http://t.co/Csk7miIhta
greenday
27 Jul 15 22:52:29
$AMRN filed motion to dismiss their claims against all generic patent filers (incl Watson/Teva) on 8/17. H/T HDGabor on iHub
binaryoptionsocial
27 Jul 15 22:51:17
NEM Newmont Mining Corp. P/E Ratio http://t.co/gSi3b5ewIU $NEM $KO $AMRN $GDXJ #NEM #invest #nasdaq http://t.co/Csk7miIhta
Somanath
27 Jul 15 22:49:35
Jake132013 : SH ProShares Short S&P 500 Fund Bid http://t.co/AzDj48taUe $SH $AMP $AMRN … http://t.co/V3sui2KnjW) http://t.co/ghnFK5bsn6
Stock_Tracker
27 Jul 15 22:46:34
USDU WisdomTree Bloomberg US Dollar Bullish Fund Bid http://t.co/3dTLWnT2BL $USDU $AMRN $SDS $UNG #USDU #tradeideas #pennystocks
Jake13
27 Jul 15 22:44:03
SH ProShares Short S&P 500 Fund Bid http://t.co/D2fNbr6jSs $SH $AMP $AMRN $JNUG #SH #stockmarket #invest
Rosner Stocks
27 Jul 15 22:42:13
NEM Newmont Mining Corp. P/E Ratio http://t.co/d6aabJgIXJ $NEM $KO $AMRN $GDXJ #NEM #invest #nasdaq
leahanne
27 Jul 15 22:32:03
AMRN Amarin Corp. PLC ADS Volume http://t.co/3zv8d0RnwF $AMRN $HGU.TO $V $BIDU #AMRN #stocks #tradeideas
Stock Rocket
27 Jul 15 21:53:46
Our Penny Stock Alerts Gained 350% In Just 8 Trading Days! Check Out Our New Plan: http://t.co/BkSWN0kRab $PHMB $FNRC $AMRN
PennyStock Zone
27 Jul 15 21:19:04
Interview with Connor Bruggeman SchoolTrader Extraordinaire!: http://t.co/DgrNThhkJM $CLF $WLT $AAL $SYNC $AMRN $ADXS
Paul Henry
27 Jul 15 21:04:56
Our Penny Stock Picks Have Gained 3,600% In 10 Months! Join Our New Money Making Platform: http://t.co/sY2MS3mUOT $PHMB $FNRC $AMRN
Stockaholics
27 Jul 15 20:41:10
Our Platinum Subscribers Saw Their Stock Alerts Gain 4,000% In 10 Months! Subscribe Today: http://t.co/E82QmP1gPM $PHMB $FNRC $AMRN
StockenheimerSchmidt
27 Jul 15 20:39:10
Huge Gains On Stock Picks, Plus A Major Announcment: http://t.co/L7DCrwbFw3 $PHMB $FNRC $AMRN
Michael Cook
27 Jul 15 20:22:41
This New Website Offers A Simple Way To Make Money From Home! Subscribe Here For Free: http://t.co/1FBUxopVvJ $PHMB $FNRC $AMRN
Michael James
27 Jul 15 19:25:12
Our Stock Alert On $GEQU Gained As Much As 525% In The Past 4 Weeks! Huge News: http://t.co/BUzFRMjvXX $PHMB $FNRC $AMRN
Paul Henry
27 Jul 15 19:20:07
Our Penny Stock Picks Have Gained 3,600% In 10 Months! Major Update On Joining Our Team: http://t.co/DX84M4Yp8a $PHMB $FNRC $AMRN
Matthew Natale
27 Jul 15 19:07:22
RT @greenday_bio: Next up NCE. Haven't seen judge granting Watson intervention yet. Today is day 60 of the 60 day appeal deadline $AMRN
Stock Rocket
27 Jul 15 17:52:40
Our Penny Stock Alerts Gained 350% In Just 8 Trading Days! Check Out Our New Plan: http://t.co/BkSWN0kRab $PHMB $FNRC $AMRN
Michael Cook
27 Jul 15 17:32:20
This New Website Offers A Simple Way To Make Money From Home! Super Special Update: http://t.co/iRJJY54yen $PHMB $FNRC $AMRN
greenday
27 Jul 15 16:56:13
Next up NCE. Haven't seen judge granting Watson intervention yet. Today is day 60 of the 60 day appeal deadline $AMRN
Penny Stockington
27 Jul 15 16:38:28
Our Stock Pick On $GEQU Nearly QUADRUPLED In Value In Less Than 2 Weeks! Major News: http://t.co/Ar3yILXeKR $PHMB $FNRC $AMRN
				
				
By  +Follow October 30, 2013 9:36AM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

5 Small-Cap Energy with Hedges to Survive Oil's Bear Market


DraftKings and FanDuel: The New Face of Legalized Online Sports Betting

Is the Market Paying the Toll of Tech?

What Will Uber Look Like in the Future?


How Dodd-Frank Divides Political Parties Prior to 2016 Election

 

Apple (AAPL) is expected to announce its latest quarterly earnings next week. As the most valuable company by mark... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN