Amarin Corporation plc (ADR) (NASDAQ: AMRN)
Amarin is having an incredible day in the market today after the announcement on new data from the CHERRY study. According to the company, the new data supports the hypothesis under investigation. Today, we’ll talk about the study and new data as well as how the market is reacting to the news and what we can expect to see from AMRN moving forward. So, let’s get right to it…
CHERRY Study Data Supports AMRN Hypothesis
Amarin announced today that the CHERRY study of Vascepa capsules supports the idea that Vascepa may reduce risk in coronary heart disease patients already on lipid-lowering statin therapy. After a period of between 6 and 8 months, the CHERRY study supported the hypothesis that the drug may reduce risk in coronary heart disease patients. Through the study, AMRN has shown a significant reduction in coronary plaque volume, lipid volume, and fibrosis volume. However, there was no significant difference observed in the statin-only group of the study.
During the study, AMRN closely evaluated patient safety through medical exams as well as lab tests. Through their evaluation, AMRN found that there were no statistically significant differences between groups in MACE or adverse events. Ultimately, Cherry showed that not only was the treatment effective, it was well-tolerated among patients. In the end, CHERRY investigators concluded that administration of EPA added to high-dose statin treatment significantly reduced coronary plaque volume. The investigators also suggested that EPA therapy may reduce the residual risks that remain in secondary prevention patients being treated with statin therapy.
How Amarin Reacted In The Market
As history tells us, any time there is positive news released following a clinical study, we tend to see positive news in the market as a result. That’s exactly what we’re seeing from AMRN today. Currently (11:02), AMRN is trading at $2.14 per share after a gain of 4.90% so far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly positive opinion of what we can expect to see from AMRN. The reality here is that the company is producing incredibly positive results with regard to their experimental treatment, Vascepa. As trials continue, I’m expecting to see more positive news released, followed by more improvement in the value of the stock. Ultimately, if you’re looking for a biotech stock to invest in, AMRN is going to be a relatively strong candidate to look into. While anything can happen between now and the NDA submission with the FDA, I’m expecting to see positive news overall.
What Do You Think?
Where do you think AMRN is headed and why? Let us know your opinion in the comments below!