Amarin Corporation plc (NASDAQ:AMRN) is now officially trading just in front of an interesting “big day” on Saturday. We have discussed the schedule and meaning of this day at length in our recent pieces on the stock. For a very brief refresher, the company will be presenting a deeper dive into the REDUCE-IT Vascepa cardiovascular outcomes trial topline results originally reported on September 24 – the catalyst that ignited the monstrous rally you now see before on the AMRN chart.
As we have detailed, this more granular exploration of that initial data will present the opportunity for any underlying warts to become more visible should they exist. In other words, there is some risk here.
Amarin Corporation plc (NASDAQ:AMRN) shares have been locked into an extremely strong trend because an appreciation of the potential market size for Vascepa has been suggested in the billions given its apparent efficacy, safety, and cost, together bringing the sense that both the insurance and medical communities would back it in practice as a multi-line agent of preference, with as many as 70 million patients in play.
However, those with a great deal of skin in the game may well hedge later this week, presenting those with no exposure to the stock a potential opportunity to gain some access to shares into that hedging.
It may not happen, but we typically see a minor pullback just in front of this type of market moment, and wouldn’t be surprised to see it here.
As a reminder, the schedule on Saturday will look like this: First, we will get a presentation of REDUCE-IT clinical trial results (the granular version). That will happen on Saturday, Nov. 10, 2018 at 2:18 p.m. Central Time (CT) / 3:18 p.m. Eastern Time (ET). Then, we will get the Amarin investor/analyst conference call to discuss those results. That will happen a few hours later, at 7:15 p.m. CT / 8:15 p.m. ET. On Sunday, there will be some additional discussion, but no new revelations that could impact the market’s understanding of the Vascepa data.
View From Above
Amarin Corporation plc (NASDAQ:AMRN) trumpets itself as a biopharmaceutical company that focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States.
The company’s lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia. It is also involved in developing Vascepa for the treatment of patients with high triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol levels.
Amarin Corporation plc sells its products principally to wholesalers and specialty pharmacy providers through direct sales force. It has collaboration with Mochida Pharmaceutical Co., Ltd. for the development of EPA-Based drug products and indications.
The company was formerly known as Ethical Holdings plc and changed its name to Amarin Corporation plc in 1999. Amarin Corporation plc was founded in 1989 and is based in Dublin, Ireland.
Amarin Corporation plc (NASDAQ:AMRN) generated sales of $52M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 17.6% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($102.9M against $137.6M, respectively).