Amarin Corporation Plc (ADR) ( NASDAQ: AMRN ), on Monday, reported positive
top-line results from the Phase 3 clinical trial of its lead drug candidate AMR
101. The company said that the results from the MARINE Study were statistically
significant. The study met its primary endpoints as defined in the clinical
trial protocol and showed a positive safety profile. Commenting on the positive
results, Joseph S. Zakrzewski, Executive Chairman and CEO of Amarin, said that
the MARINE study was conducted in a population representative of millions of
people with very high triglyceride levels, including more than 3.8 million in
the U.S. alone. He said that the company believes that these results and the
overall profile of AMR101 position the drug candidate to be best in class in the
market. Earlier this month, Amarin also reported its third-quarter 2010
financial and operational results. The company had a cash balance of $31.4
million at the end of the third quarter. The company's cash outflow during the
third quarter of 2010 was $6.2 million, of which $5.5 million was paid in
connection with its two ongoing Phase 3 clinical trials. Amarin also said that
it expects its current financial resources to be sufficient to finance its
planned operations through the filing of the new drug application (NDA) for
AMR101. The ADRs of Amarin have a 52-week range of $0.93-$6.30. The ADRs are
currently trading above their 50-day and 200-day moving averages. The ADRs have
a support level at $4.48 and a resistance level at $6.18. Year-to-date, the ADRs
are up 304.92%. Ireland-based Amarin is a clinical-stage biopharmaceutical
company, focusing on the development of improved treatments for cardiovascular
disease. The company is currently focusing its efforts on its lead product
candidate, AMR101. Need fast service and cheap rates from a broker? Click here
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