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.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for AMRN
Trader News Daily
2 Mar 15 11:47:18
Wow http://t.co/PeRPkYu8Uk just posted last weeks results. +429%. Crazy. They offer a free trial too. $FCEL $SPF $AXAS $AMRN $RGIN
lucky swan
2 Mar 15 11:15:50
$AMRN undervalued biotech play worth buying $1.55
PennyStocker
2 Mar 15 10:32:41
Wow the last pick from http://t.co/p3LC54H2W5 popped over 450%. Nice for being free. $GLUU $NVLX $AMRN $AXAS
JohnCappello
2 Mar 15 09:15:17
20% of statin users are nonresponders & had faster plaque build-up in arteries vs patients respondeders $AMRN http://t.co/fAYoDTZDdn
Pennys Tomillions
2 Mar 15 08:21:44
$SAMP $$$$$$BREAKOUTTTTTTTTTTTTT$$$$$$ watch $AAPL $AJAC $ALGA $AMRN $AZFL $BAA $BABL $BETS $BYSD $CFGX $CSN$EBS $ECIG $ELTP $EPGL
StockTalk
2 Mar 15 08:03:55
$AMRN eps 2nd
JohnCappello
2 Mar 15 07:40:15
& this;18 HEPE (EPA metabolite) inhibited macrophage-mediated proinflammatory activation of cardiac fibroblasts $AMRN http://t.co/bEryAHU4Kr
Quantumboy
2 Mar 15 07:11:15
$AMRN.READY 🚀
TC
2 Mar 15 06:31:36
Huge block trades on $AMRN
HOSStile STOCKS
2 Mar 15 06:24:41
$AMRN hot break $AMRN http://t.co/TjbHqP85mP
Quantumboy
2 Mar 15 06:23:11
$AMRN. $6 TRGT.
Pennys Tomillions
2 Mar 15 06:08:19
>>>>>>>>>>>> $SAMP NEWS confirmed<<<<<<<<<<< $AAPL $AJAC $ALGA $AMRN $AZFL $BAA $BABL $BETS $BYSD $CFGX $CSN $EBS $ECIG $ELTP $EPGL
Traderinvestor
2 Mar 15 05:34:50
Watch list 3/2/15 $SNSS $LNKD $TRUE $SWHC $AMRN $YELP $UFS $POWR $EXEL $BIOL $NOG $ADHD
dougheuring
2 Mar 15 03:59:11
JMP Companies Trading Between 1 – 2x Cash (Cash, Cash Equivalents, and Marketable Securities $ARQL $AMRN $RIGL $TLOG http://t.co/CUXmY80jAh
StockEarnings.com
2 Mar 15 03:50:08
$AMRN Since last ER, stock gained 60%. Will it continue aftr ER on 3/3 After Close (Confirmed)? http://t.co/zuvdqZpSXD
TalkMarkets
2 Mar 15 03:33:21
Week In Review: #Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug $AMRN $ESALF $ESALY $TEVA http://t.co/qYrfWdzisW
StockNewsWires
2 Mar 15 01:01:06
$AMRN: Update: Amarin Corporation PLC Short Interest Grows by 0.6%: http://t.co/m2Ka36uCSJ
TalkMarkets Recap
1 Mar 15 21:33:35
Week In Review: #Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug $AMRN $ESALF $ESALY $TEVA http://t.co/NubEKIQuhQ
Quantumboy
1 Mar 15 19:50:16
RT @ChartReaderE: $AMRN #CHART http://t.co/g1NHw5kFYv https://t.co/j1p1khQZRW http://t.co/QTmnHLvHXK
Shut in Oil Baron
1 Mar 15 19:35:04
RT @JoeHsieh24: My plan 3/2/2015 $MAC calls $FSL calls $ZIOP calls $SNDK calls $PANW calls $AMRN calls $BBY puts
Joseph Hsieh
1 Mar 15 19:31:44
My plan 3/2/2015 $MAC calls $FSL calls $ZIOP calls $SNDK calls $PANW calls $AMRN calls $BBY puts
greenday
1 Mar 15 18:26:42
“@JohnCappello: If you're planning on handicapping Reduce-It, best you do some read http://t.co/Rl6RgB9zJ2 $AMRN” 👍 EPA/statin only NO DHA
JohnCappello
1 Mar 15 18:11:57
If you're planning on handicapping Reduce-It, best you do some reading - soon http://t.co/Alc08Nwyo0 $AMRN
ChartReaderE
1 Mar 15 18:09:13
I'm still long $CYTX $VSCI $RCPI $AMRN $CREG $ACFN $INVT $ACFN $MSTX $NYMX $PRSN $CLTX & $DCTH... http://t.co/fCv4qoq6HX
Trader News Daily
1 Mar 15 17:56:45
Wow http://t.co/PeRPkYu8Uk just posted last weeks results. +429%. Crazy. They offer a free trial too. $FCEL $SPF $AXAS $AMRN $RGIN
Absolute Allah
1 Mar 15 17:48:07
Find the price action! It's always somewhere! $SPY, $AAPL, $QQQ, $AMRN, $AXP, $MCD, $IWM
Trader News Daily
1 Mar 15 16:43:31
Wow http://t.co/PeRPkYLKiU just posted last weeks results. +429%. Crazy. They offer a free trial too. $FCEL $SPF $AXAS $AMRN $RGIN
ProTradersNews
1 Mar 15 16:31:03
$AMRN: Share Price of Amarin Corporation PLC Rally 13.53%: http://t.co/EMuVFQSEEy
RichardChirpin
1 Mar 15 16:29:39
VOIS Worldwide coverage: http://t.co/2IVANsGVpU $AMRN $PVSP $SWET $ENIP $KNDI $PAL $DSCR $FRZT $SMVR $RCHA $BETS $BABL $INCC $SNET $SAMP
Joseph Lizyness
1 Mar 15 15:22:52
RT @SeaThugs: VOIS billionaire backer: http://t.co/epuaNhhSmp $AMRN $PVSP $SWET $ENIP $KNDI $PAL $DSCR $FRZT $SMVR $RCHA $BETS $BABL $INCC …
RichardChirpin
1 Mar 15 15:11:35
VOIS billionaire backer: http://t.co/epuaNhhSmp $AMRN $PVSP $SWET $ENIP $KNDI $PAL $DSCR $FRZT $SMVR $RCHA $BETS $BABL $INCC $SNET $SAMP
ChinaBio® Group
1 Mar 15 15:02:29
Week In Review: #Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug $AMRN $ESALF $ESALY $TEVA http://t.co/3P0PRwEnRB
TalkMarkets
1 Mar 15 15:02:28
Week In Review: #Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug $AMRN $ESALF $ESALY $TEVA http://t.co/qYrfWdzisW
Rosner Stocks
1 Mar 15 13:54:12
$MRIB Opinions Updated Sunday, March 1, 2015 3:59:24 PM $HAR $AMRN $FCGD $DGAZ http://t.co/vgMCg0IxSS
Langan Stocks
1 Mar 15 13:54:09
$AMRN Reviews Updated Sunday, March 1, 2015 4:03:18 PM $K $GRCU $GOOG $GG http://t.co/OrvGPpGR7N
RichardChirpin
1 Mar 15 13:16:03
VOIS Mind Control Demo Vid https://t.co/vKB3Wv41XF $AMRN $PVSP $SWET $ENIP $KNDI $PAL $DSCR $FRZT $SMVR $RCHA $BETS $BABL $INCC $SNET $SAMP
RichardChirpin
1 Mar 15 13:14:51
VOIS Control Comp w/ Brain https://t.co/qclIwbl1yl $AMRN $PVSP $SWET $ENIP $KNDI $PAL $DSCR $FRZT $SMVR $RCHA $BETS $BABL $INCC $SNET $SAMP
StockNews
1 Mar 15 12:15:08
$AMRN - Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/6cPOPuw9eK
Stocks News&Markets
1 Mar 15 12:15:07
$AMRN - Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/QkgYlsicv6
Rachel Smith
1 Mar 15 12:15:07
$AMRN - Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/FrmXv6jNFy
mystock smith
1 Mar 15 12:15:06
$AMRN - Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/ZYPjsjiAGU
NASDAQ
1 Mar 15 12:15:06
$AMRN - Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/zz2HgxoDPS
StockNewsWires
1 Mar 15 12:11:02
$AMRN $TEVA: Week In Review: Eddingpharm Pays $169 Million For China Rights ...: http://t.co/ugBYifjYAm
Healthcare Stocks
1 Mar 15 12:01:21
Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/HsDlCYPXt0 $AMRN $ESALF $ESALY $TEVA
Quick Stock Ideas
1 Mar 15 12:01:21
Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/2RppXtNVuS $AMRN $ESALF $ESALY $TEVA
Seeking Alpha
1 Mar 15 12:01:21
Week In Review: Eddingpharm Pays $169 Million For China Rights To Omega-3 Drug http://t.co/hErUA06KTc $AMRN $ESALF $ESALY $TEVA
Trader News Daily
1 Mar 15 11:25:08
Wow http://t.co/PeRPkYu8Uk just posted last weeks results. +429%. Crazy. They offer a free trial too. $FCEL $SPF $AXAS $AMRN $RGIN
MARK ROTH
1 Mar 15 11:02:42
RT EPA/DHA: AA ratio associated with breast cancer. Inflammation is asscoated with most illnesses not just CVD http://t.co/en89kKE6Kd $AMRN
JohnCappello
1 Mar 15 10:56:04
EPA upregulates VEGF-A thru GPR120 & PPARγ mediated pathways in 3T3-L1 adipocytes, ameliorates INFLAMMATION http://t.co/uEY3etEZ8C $AMRN
IH News Desk
1 Mar 15 10:48:51
$QCOM News Updated Sunday, March 1, 2015 1:11:07 PM $XLF $AMRN $LAZ $ZBRA http://t.co/s8idpaaq7X
				
				
By  +Follow October 30, 2013 9:36AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

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