Amarin Corporation plc (NASDAQ: AMRN) is having an overwhelmingly strong start to the trading session this mroning, and for good reason. The company reported positive top-line data from a key clinical study. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from AMRN stock as a result; and
- what we’ll be watching for ahead.
AMRN Announces Positive Data
As mentioned above, Amarin Corporation is having an incredibly strong start to the trading session this morning after releasing positive clinical data. In a press release issued early this morning, the company provided topline results from the Vascepa® cardiovascular (CV) outcomes trial known as REDUCE-IT™. The study included more than 8,000 statin-treated adults with elevated CV risk. In the release, the company said that the study met its primary endpoint by demonstrating an approximately 25% relative risk reduction in major adverse CV events in the intent-to-treat population through the use of Vascepa 4 grams/day.
AMRN said that patients enolled in the trial had LDL-C between 41-100 mg/dL controlled by statin therapy and various cardiovascular risk factors including elevated triglycerides and either established cardiovascular disease or diabetes mellitus and at least one other CV risk factor.
Not only did the treatment prove to be effective, it also proved to be safe and well-tolerated. In fact, the proportions of patients experiencing adverse events and serious adverse events during the trial were similar in both active and placebo groups.
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 investors, one of the first lessons that we learn is that the news moves the market. In the case of Amarin Corporation, the news proved to be overwhelmingly positive. Not only did the REDUCE-IT study meet its primary endoint of reduced risk of cardiovascular events, the study showed that Vascepa is also saffe and well tolerated. So, it comes as no surprise to see that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:50), AMRN is trading at $12.33 per share after a gain of $9.34 per share or 312.37% 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 story surrounding Vascepa closely as the REDUCE-IT trial has yielded overwhelmingly positive results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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