Amarin Corporation plc (NASDAQ: AMRN) is having a relatively flat start to the trading session in the pre-market hours this morning. However, if you feel like you missed the boat, don’t get too upset, I believe that there are more gains ahead. Today, we’ll talk about:
- Why AMRN is likely to see more gains;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why AMRN Is Likely To See More Gains
Amarin has had a relatively strong run in the market as of late. However, if you haven’t gotten involved yet, I’m here to tell you that the opportunity is ahead of us, not behind us. At the end of the day, my positive view is associated with the comapny’s lead candidate Vascepa.
Recently, the company reported top line data from the Vascepa cardiovascular outcomes trial known as REDUCE-IT. The study took place globally among 8,179 statin-treated adults with high risk of cardiovascular events. In the data, the company said that the study met its primary endpoint, demonstrating an approximate 25% reducting in relative cardiovascular risk to a high degree of statistical significance.
Along with the efficacy data, AMRN said that Vascepa was well tolerated and that the safety profile proved to be consistent with clinical experiences associated with omega-3 fatty acids and current FDA-approved labeling.
The data proved to be overwhelmingly positive news. After-all, this long term trial showed that the FDA approved treatment is indeed effective and safe for long term use. Ultimately, the results will likely lead to an increase in sales of the treatment. In a statement, John F. Thero, President and CEO at AMRN, had the following to offer:
We are delighted with these topline study results… Given Vascepa is affordably priced, orally administered and has a favorable safety profile, REDUCE-IT results could lead to a new paradigm in treatment to further reduce the significant cardiovascular risk that remains in millions of patients with LDL-C controlled by statin therapy, as studied in REDUCE-IT.
What We’re Seeing From The Stock
As mentioned above, Amarin is trading relatively flat this morning, with the stock seeing both red and green in the pre-market. Nonetheless, I believe that the flat movement will ultimately turn into gains either throughout the trading session or early next week. Nonetheless, at the moment (7:18), AMRN is trading at $20.25 per share after a loss of $0.04 per share or 0.20% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMRN. In particular, we’re interested in following the sales of Vascepa with the new data further validating the efficacy and safety of the treatment. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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