Amarin Corporation plc (ADR) (NASDAQ:AMRN) announced that it has presented data and analysis regarding its Vascepa product. The results were part of the company’s participation in the MARINE and ANCHOR phase III studies. The capsules reduced the amount of cholesterol levels in patients and did very well when tested against placebos. The data was presented by Dr. Christine M. Ballantyne, during the AHA’s Scientific Sessions in Chicago.
The cholesterol particles are a heart risk and can cause other serious issues including heart attacks and death. The results showed significant reductions and were very convincing to scientists and industry professionals.
The product is known in the scientific world as AMR101. It is a very pure EPA omega-3 prescription drug that comes in a 1 gram dosage. The drug is a development stages and has not been approved by the FDA for this use yet. The company has a busy schedule and it is scheduled to present at two major conferences. The first is the Oppenhiemer Healthcare Conference in New York and the other the J.P. Morgan Healthcare Conference in San Francisco. Amarin Corporation plc (ADR) (NASDAQ:AMRN)’s CEO and president will do a full business review at both conferences allowing potential investors to see the company up close.
The company operates in the biopharmaceutical industry and focuses on the commercialization and development of medicines and treatments for cardiovascular health. They specialize in lipid science and have extensive experience in the field. Vascepa is Amarin Corporation plc (ADR) (NASDAQ:AMRN)’s first FDA approved product and is only available by prescription. The drug brought in over $14 million in sales last reporting period and is gaining wide-spread acceptance with doctors and pharmacists in the business. Prescriptions for the product rose by 22% and as trials for new uses are passed that number will grow more.
The stock recently made a strong attempt at breaking out but needs to overcome the $1.38 resistance level. After that there are no headwinds until it refills the gap at $2.00.