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Stock Market & Financial Investment News

News Breaks
December 6, 2012
16:09 EDTAMRNAmarin announces $100M non-equity financing
Amarin announced a $100M non-equity financing with an investment fund managed by Pharmakon Advisors and that Amarin is continuing its preparations to commercialize Vascepa (icosapent ethyl) capsules with the hiring of a sales force in the United States. Payments by Amarin under this hybrid debt-like instrument are expected to be made over a 3.5-year period commencing in November 2013 and to continue through early 2017. As previously announced, the initial commercial launch of Vascepa is planned for early in the first quarter of 2013. The company is hiring 250-300 specialty sales professionals for the launch of Vascepa for its initial indication, the MARINE indication, which is approved by the U.S. Food and Drug Administration. Amarin's goal is for every sales representative hired to have, at a minimum, three to five year existing relationships with the identical physician groups Amarin will be calling on and educating about Vascepa. In addition to hiring a sales force, Amarin has been focused on continued commercial preparations for Vascepa which, as previously disclosed, has included, but has not been limited to, finalizing the introduction of Vascepa to managed care plans to gain formulary access, building up inventory levels, hiring key personnel (e.g., managed care, marketing, sales infrastructure, pricing), developing direct-to-consumer advertising and speaker training and coordinating other pre-launch marketing activities. Amarin's hiring of a sales force is part of a continuing strategy to evaluate three potential paths to Vascepa commercialization: an acquisition of Amarin, a strategic collaboration, and self-commercialization, the latter of which could include third-party support.
News For AMRN From The Last 14 Days
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September 16, 2014
05:59 EDTAMRNAmarin to host conference call
Conference call to discuss its commitment to the REDUCE-IT study will be held on September 16 at 8 am. Webcast Link
05:34 EDTAMRNAmarin commits to completing REDUCE-IT cardiovascular outcomes study
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September 12, 2014
16:20 EDTAMRNOn The Fly: Closing Wrap
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14:59 EDTAMRNAmarin weakness an overreaction, says Citigroup
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12:51 EDTAMRNOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The day’s economic data, including retail sales figures, a report on import prices, and business inventories data, were generally in line with expectations. The economic bright spot was the University of Michigan consumer confidence report which came in higher than expected. The market is on the verge of ending the week lower, which would be its first weekly loss in the last seven. ECONOMIC EVENTS: In the U.S., sales at retailers climbed 0.6% in August, matching expectations but also representing the fastest pace in four months. Retail sales growth for July was also revised upward to 0.3% from a prior estimate of having been flat. Import prices dropped 0.9% in August, while export prices slipped 0.5%. The University of Michigan preliminary consumer sentiment reading for for September rose to 84.6, beating expectations for it to be up more modestly to 83.3. Business inventories grew 0.4% in July, as expected. COMPANY NEWS: Shares of eBay (EBAY) were up more than 2% near noon after rumors circulated that Google (GOOG) may look to take a stake in the company. However, an eBay spokesperson denied the speculation, telling Reuters that the company has held "no conversations" with Google about acquiring a stake. MAJOR MOVERS: Among the notable gainers was digital marketing services company Conversant (CNVR), which soared 30% after Alliance Data Systems (ADS) agreed to acquire it for about $2.3B in cash and stock. Following last night's announcement of the deal, some Conversant peers rose as well, as Criteo (CRTO) gained almost 5% and TubeMogul (TUBE) rose 1%, while Alliance Data gained over 2%. Among the noteworthy losers was Amarin (AMRN), which dropped 22% after an office within the FDA denied the company's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment agreement. Also lower were shares of Ruckus Wireless (RKUS), which fell 5% after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. INDEXES: Near midday, the Dow was down 66.43, or 0.39%, to 16,982.57, the Nasdaq was down 19.83, or 0.43%, to 4,571.97, and the S&P 500 was down 10.28, or 0.51%, to 1,987.17.
10:10 EDTAMRNHigh option volume stocks
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09:14 EDTAMRNOn The Fly: Pre-market Movers
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09:04 EDTAMRNAmarin down 24.3% after FDA office denies appeal of ANCHOR rescission
09:03 EDTAMRNAmarin says FDA office denies appeal of ANCHOR rescission
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09:02 EDTAMRNAmarin says FDA office denies appeal of ANCHOR rescission
September 10, 2014
14:17 EDTAMRNAmarin says Vascepa SPA rescission appeal on ANCHOR sNDA ongoing
Amarin says it is appealing to a higher level and if appeal is not successful that the company may pursue judicial relief under the First Amendment. Amarin says that the fight over Vascepa's sNDA for a mixed dyslipidemia indication is an "uphill battle," but the company believes patient care would benefit and that the company has valid legal, clinical and regulatory arguments. Information from slides for the company's presentation at the Rodman & Renshaw Global Investment conference.

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