Amarin Corporation plc (NASDAQ:AMRN) continues to “process” the rumors, facts, and opinions following the November 10 AHA event that featured revelations about the granular details related to the Reduce-It Vascepa study. The study has profoundly impacted the heart health treatment landscape ever since the topline data hit on September 24, showing a 25% reduction in serious cardiovascular risks and launching AMRN shares higher by as much as 700% in a matter of weeks.
Our sense is that the visibility of the Reduce-It study and the AHA conference presentation may have created a platform for future Vascepa sales growth simply due to the splash it has already made in the medical community. In other words, the FDA review coming up may not be a major factor in the ability of the company to successfully market Vascepa as an ace preventative measure for patients deemed by doctors to be at risk for cardiovascular problems.
Amarin Corporation plc (NASDAQ:AMRN) shares continue to consolidate but not deteriorate, which is another good signal.
One way to wrap your head around where this story stands and where it may be headed is to consider the argument of a bear on AMRN. The argument being made is that the mineral oil placebo drastically impacted perceived derisking impact by ramping risks on the control side of the study.
However, as we have stated several times, the inclusion of mineral oil in this role (and, indeed, the notion of the risks of mineral oil supplements on risk factors for heart patients) is not a new or exotic element. It has been used and studied thoroughly for many years. And it’s impacts are well understood.
Most likely, the combination of preexisting traction in the medical community and a review of other mineral oil research will be sufficient to grant Amarin its expanded labeling from the FDA.
But, as noted above, the splash that Reduce-It has already made in the medical community may have already set in motion the necessary pieces of a successful sales growth curve for Vascepa.
At this point, the action in the stock looks to be constructive following some nervy shakeouts.
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) pulled in sales of $55.4M in its last reported quarterly financials, representing top line growth of 16.3%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($82.5M against $151.6M, respectively).