) recently announced its offer to sell 21.7 million American
Depositary Shares (ADS). As per the underwriting agreement, the
underwriters to the issue were given an option to purchase 3.255
million shares of Amarin to cover over-allotments, if any. The
underwriters will be provided a 30-day window to do so.
Amarin has filed a registration statement with the Securities and
Exchange Commission (SEC) in relation to its ADS offering. The
company plans to file a preliminary prospectus supplement with
the SEC shortly.
Amarin was also in the news recently when it announced
encouraging results from a phase I trial on its cardiovascular
candidate, AMR-102, a fixed-dose combination of the company's
only marketed product, Vascepa and
) Crestor (rosuvastatin).
We note that apart from AMR-102, the company is also evaluating
Vascepa for several indications. The US Food and Drug
Administration (FDA) approved Vascepa as an adjunct to diet
for reducing triglyceride levels in adults suffering from severe
(≥500 mg/dL) hypertriglyceridemia (very high triglycerides) in
Jul 2012. The company started marketing the drug in the US from
The company seeking to get Vascepa approved for other indications
including the treatment of adults with high triglyceride levels
(≥200 mg/dL and <500 mg/dL), who are receiving statin therapy
for elevated LDL-C (low-density lipoprotein cholesterol) levels.
Amarin carries a Zacks Rank #3 (Hold). Pharma stocks, which
appear to be favorably placed, include
). Both the stocks carry a Zacks Rank #1 (Strong Buy).
AMARIN CORP PLC (AMRN): Free Stock Analysis
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