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Amarin Reports Year-End and Q4 2010 Results

Thu, 03/17/2011 - 5:31am
Bio-Medicine.Org

DUBLIN and MYSTIC, Conn., March 16, 2011 /PRNewswire/ -- Amarin Corporation plc (Nasdaq: AMRN), a clinical-stage biopharmaceutical company focused on cardiovascular disease, today reported financial results for the fiscal year and fourth quarter ended December 31, 2010. The Company also provided an update on its progress with the Phase 3 development program of its lead product candidate, AMR101 for the treatment of elevated triglyceride levels, which are associated with the increased risk of developing cardiac disease as well as being a component of certain other metabolic disorders, such as diabetes and obesity.

As reported by Amarin, key accomplishments since the Company's last quarterly financial report of September 30, 2010, include:

Primary endpoints met in Phase 3 MARINE trial with AMR101 at both 4g and 2g doses Strengthened balance sheet with additional $98.7M cash Completed last patient visit for the Phase 3 ANCHOR trial Strengthened management team with focus on commercial –readiness of AMR101 through the addition of an accomplished Chief Commercial Officer On-track with the existing MARINE trial data for a New Drug Application (NDA) submission for AMR101 in Q3, 2011

"2010 was a year of great progress for Amarin. We accomplished our goal of advancing AMR101 toward commercial status with the release of positive MARINE trial results in the last quarter," stated Joseph Zakrzewski, Executive Chairman and Chief Executive Officer of Amarin.  "Among prescription Omega-3 based drugs, AMR101 has the potential to be best-in-class for treating patients with very high triglycerides and the first-in-class for treating patients with high triglycerides with mixed dyslipidemia. Our focus is to become the leader in the market for triglyceride-lowering drugs by providing clinicians and patients a new generation of prescrip

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