AMRN making a huge bull run in 2006. Price action consolidated after running up in Jan and now has recently broke some long term resistence and broken out of a symmetrical triangle.
Fridays price action was pivotal breaking 3 major resistence areas on above average volume:
1. Long term downsloping resistence line
2. Upside breakout of the symmetrical triangle
3. broke back through 3.50 long term horizontal resistence.
I didn't read up much on the company but i love the chart and theres alot of momentum here so ive decided to fill a position tomorrow morning.
For now stop loss point set at the ascending trendline which stands at 3.26 for tomorrow.
-fous
Great pick fousc (applaud) ;)
Prices manage to sit above 8 SMA ;)
Heck yes! I love this setup!
Applaud!!!!! >:D
update:
2005 year end results analysis:
http://www.knobias.com/research.pdf?id=4034
(12 slides)
&
Amarin Corporation plc Reports Miraxion Improves Stress Hormone Transport Through the Blood Brain Barrier in Pre-Clinical Studies
Tuesday , March 07, 2006 08:03 ET
LONDON, March 7, 2006 /PRNewswire-FirstCall via COMTEX/ -- Amarin Corporation plc (NASDAQ: AMRN) today reported that pre-clinical data from a study conducted at the University of Valencia, Spain, demonstrates that Miraxion (ultra-pure ethyl-eicosapentaenoic acid (E-EPA)) may improve stress hormone (such as cortisol) transport through the blood brain barrier. The investigation was conducted by Professor MV Bermejo, Department of Pharmaceutics, University of Valencia. It is expected that the details of this work will be published in a peer reviewed journal.
Increased plasma levels of cortisol and over-activity of the hypothalamus-pituitary adrenocortical axis (HPA) are considered to be a cause of melancholic depression. Improved blood brain barrier transport of cortisol may lead to a normalisation of cortisol levels and of HPA axis activity resulting in an alleviation of the symptoms of melancholic depression.
Previously, Professor Cai Song, University of Prince Edward Island, an investigator in one of Amarin's pre-clinical programs, has published data (Molecular Psychiatry 2004, Volume 9, p. 630-638) demonstrating that Miraxion decreased HPA axis over-activity in pre-clinical models of depression. The findings from the University of Valencia and University of Prince Edward Island reinforce the potential mechanism of action of Miraxion in melancholic depression. It is hypothesised that this effect is related to Miraxion's ability to sensitize glucocorticoid receptor function.
Melancholic depression is regarded as the most severe form of the depressive disorders, with limited treatment options for patients. It is more prevalent among hospitalized depression patients than among those in the community. Affected persons lack pleasure in almost all activities and do not react to pleasurable stimulation. They may experience extreme slowness of movement or agitation. Melancholic depression is regularly worse in the morning and is accompanied by lack of appetite and weight loss. Amarin estimate the potential global market for melancholic depression to be $2 to 4 billion.
Amarin also acknowledges a clinical study from the University of Edinburgh which was published in the February 2006 issue of the "Journal of Clinical Endocrinology and Metabolism" which reported that high circulating levels of stress hormones such as cortisol may be the cause of depression and Alzheimer's disease in old age. For the first time, researchers have identified that shrinkage of the left anterior cingulate cortex in old age may cause depression and Alzheimer's disease. Smaller left anterior cingulate cortex volumes may be also associated with HPA axis dysregulation in humans. Their results substantiate evidence from pre-clinical studies indicating an important role for the anterior cingulate cortex in suprahypothalamic feedback regulation of the HPA axis. The results also have implications for disorders in which HPA axis dysregulation is frequently observed, such as depression and Alzheimer's disease.
Rick Stewart, Amarin's Chief Executive Officer, commented "Amarin continues to define the role of Miraxion in the reduction of cortisol levels, the regulation of HPA axis over activity and broader neuroinflammatory processes in the brain. These data, along with additional pre-clinical and human clinical trials, continue to expand our scientific body of knowledge in this exciting area of research. This provides greater insights into Miraxion's mechanism of action in treating a variety of diseases, such as melancholic depression."
Rick Stewart continued "In previous Phase II human clinical trials, Miraxion has been shown to be effective in treating major depression that was unresponsive to other treatments, in bipolar depression and in depressive symptoms accompanying borderline personality disorder. Data analysis from previous Phase II studies also supports Miraxion as a potential treatment for melancholic depression. These data may provide an important link in determining which patients will benefit most from treatment with Miraxion."
&
AMRN: Short Interest UP 14.7% to 401.3K in Mar 2006
Monday , March 27, 2006 06:00 ET
According to new short interest data from NASDAQ, short interest for Amarin Corporation PLC ADS (NasdaqSC: AMRN) INCREASED 14.7% to 401,334 shares for the month ended mid-March, 2006.
SYMBOL FEBRUARY MARCH CHANGE %CHANGE DAYS/COVER
-------- ------------- ------------- ------------- ------------ ----------
AMRN 349,775 401,334 +51,559 +14.74% 3
Based on AMRN's 20-day average daily share volume of 137,178, it would require approximately 3 day(s) of buying to cover this short interest.
Quote from: fous on March 26, 2006, 08:28:50 PM
I didn't read up much on the company but i love the chart and theres alot of momentum here so ive decided to fill a position tomorrow morning.
For now stop loss point set at the ascending trendline which stands at 3.26 for tomorrow.
-fous
you have bought some AMRN ??
updated company presentation:
http://www.amarincorp.com/page.cfm?pgname=presentations
cheers
O.
Quote from: jorgegr on March 28, 2006, 10:31:25 AM
Hello Fous:
Any comments on AMRN??? Did you buy this one???
Thx
jorgegr
I actually never did buy this one yet, From the moment i woke up and began gettin ready to fill a position it was movin down so it was appearing to be a false breakout of the symmetrical triangle and indeed it was. Price action again retested the ascending trendline today. We'll see how the rest of the week pans out. I may look into filling a position if we see a nice bounce off the trendline and volume picks back up.
-fous
Another good entry point that i just noticed would be a break of the 3.60 neckline of the ascending triangle that has formed here. I'll look to buy off support of the ascending trendline or on a break of 3.60.
-fous
I think its trying to establish a new mini symm triangle. Instead of that ascending triangle try connecting those two tops....
Has been 9 months since any posting on this stock pick.
Having a bounce north the past 2 sessions, maybe a double bottom ???
Can things continue ?
I like that big move Friday accompanied by the volume !
Recent CandleStick Analysis
Very Bullish
Dec-28-2006 Bullish Engulfing
Support @ $2.23...2.12...1.99
Resistance @ $2.56...2.84...3.00
52wk Range: 1.20 - 3.92
Volume: 408,789
Avg Vol (3m): 204,220
Technicals
Close Above the 50-day MA
Percentage Gainer
Stochastic is Bullish
Last Price Quote is:
8.17%above 13-day MA
1.76%above 50-day MA
RS Rating: 8
Fundamentals
Key Data:
Market Cap (M): $210.96
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/08/2007
Last Analyst Rating: Buy
Press Release Source: Amarin Corporation Plc
Board Director Purchases Shares in Amarin
Tuesday March 13, 9:40 am ET
LONDON, March 13 /PRNewswire-FirstCall/ -- Amarin Corporation plc (NASDAQ: AMRN - News; "Amarin" or "Company") announces that Dr Simon Kukes, a non-executive member of the Board of Directors of Amarin, made a market purchase of 500,000 American Depositary Shares ("ADSs") of Amarin on March 12, 2007 at a price per ADS of $2.50. Following this purchase, Dr Kukes holds 7,989,212 ADSs of Amarin which represent 8.81% of the issued share capital of the Company.
About Amarin
Amarin is committed to improving the lives of patients suffering from diseases of the central nervous system. Our goal is to be a leader in the research, development and commercialization of novel drugs that address unmet patient needs.
Amarin has a late-stage drug development pipeline. Miraxion, Amarin's lead development compound, is in phase III development for Huntington's disease ("HD"), phase II development for depressive disorders and entering Phase IIa development for Parkinson's disease. Amarin's core development pipeline also includes the global rights to an oral formulation of apomorphine for treating patients with advanced Parkinson's disease and a nasal formulation of lorazepam for treating emergency seizures.
Miraxion for HD is being developed under a Special Protocol Assessment agreed with the US Food and Drug Administration ("FDA"), has been granted Fast Track designation by the FDA and has received Orphan Drug designation in the US and Europe.
Amarin has its primary stock market listing in the US on NASDAQ ("AMRN") and secondary listings in the UK and Ireland on AIM ("AMRN") and IEX ("H2E") respectively.
For press releases and other corporate information, visit the Amarin website at http://www.amarincorp.com. Information on our website does not form part of this press release.
--------------------------------------------------------------------------------
Source: Amarin Corporation Plc
InPlay.......Board Director purchases shares in Amarin
Can things continue ???
Like that big move accompanied by strong volume.......
52wk Range: 1.72 - 2.87
Volume: 978,540
Avg Vol (3m): 242,416
Technicals
Percentage Gainer
Last Price Quote is:
34.10%above 13-day MA
33.90%above 50-day MA
RS Rating: 87
Fundamentals
Key Data:
Market Cap (M): $210.96
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Buy
Falling Wedge (Reversal) Pattern on the 6 Month chart.......
Symmetrical Triangle (continuation) Pattern on the 3 Year chart.......
They are 'un-blinding' the trials on Friday
Results may be out as early as April 30.
"AMRN" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. ::)
Thank You....and good luck with all your trades....make some $$$ ;)
My thinking...
Despite its strong recent move already,This is showing nice TA.
I took a look at the 1 and 5 year charts.
I see a good possibility its ready to take out $3.40,
and make new multi-year high....JMHO of course... ;)
It did a reverse split in 1998 but the float is not terribly low.
Recent CandleStick Analysis:
Bearish
Apr-17-2007 Bearish Engulfing
Apr-12-2007 Bearish Engulfing
As always a need to wait for confirmation.
Support @ $2.73...2.56...2.35
Resistance @ $3.06
MACD is Bullish
52wk Range: 1.72 - 3.39
Volume: 675,959
Avg Vol (3m): 400,740
Technicals
Last Price Quote is:
10.05%above 13-day MA
29.10%above 50-day MA
RS Rating: 94
Fundamentals
Key Data:
Market Cap (M): $278.40
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/10/2007
Last Analyst Rating: Buy
Goodbody Upgrade to BUY
Huntington's Disease awaiting treatment: Huntington's Disease is
an inherited neuro-degenerative disease that affects relatively few
people. There are c.40,000 sufferers in the EU and 30,000 in the US.
Given its hereditary nature, however, there are a further 400,000 people
"at risk" of developing the disease.
A genetic test can predict with 100%
accuracy whether a person with an HD parent will contract the disease.
A number of drugs are currently used to alleviate HD symptoms as they
develop but none have yet been approved for use against HD by the
FDA. None actually treat the disease. Amarin's Miraxion is the most
advanced of what is a relatively thin pipeline of drug candidates looking
to address this unmet medical need.
In a market where there are no
drugs currently treating the condition, there is scope for new treatments
to gain a substantial portion of what is estimated to be a c.$500m per
annum market.
• Miraxion has the potential: In an earlier Phase III trial, Miraxion was
found to be effective in a sub-set of patients. The current trials were run
within that sub-set of patients. In the US, the trial was established with a
Special Protocol Assessment in place, developed with the FDA. The drug
has been given orphan drug status in both the US and EU and has
priority review status in the US. Results from the two Phase III trials are
to be released next month. On the balance of probability, we forecast that
should Miraxion hit its Phase III endpoints and reach the market, it could
generate revenue of over $80m in FY'08, rising to $243.7m in FY'10.
• Valuation: The relatively transient nature of drugs makes the
determination of a meaningful terminal value for a DCF calculation
difficult. We have, therefore, valued Amarin relative to its peers on
traditional comparative metrics and on industry-accepted buyout
multiples. On these criteria, we currently value Amarin in the $7.95 to
$12.97 range (mid-point $10.46), which is considerably higher than
where it is currently trading. Given that: (i) Miraxion has completed two
Phase III trials without set back; (ii) the trials were designed with a
Special Protocol Assessment in place; (iii) the target population is the
sub-set of patients that responded to the drug in the first Phase III
trial; and (iv) there is no treatment on the market targeting HD, we
believe that the risk is to the upside that the drug will be approved for
the treatment of a sub-sector of HD patients.
With the caveat that the
stock remains high risk in nature, we are, therefore, upgrading our
recommendation to Buy from Add, with a price target of $5.70. This
represents the weighted combination of the minimum potential
upside ($7.95 @ 0.7 probability) and downside ($0.50 @ 0.3
probability) to the stock in this binary situation. Although this is c.90%
ahead of the current price, it would only have the stock trading at
16.1x FY08 earnings, a considerable discount to peers with drugs on
the market, who are trading at an average of c.30x FY08 earnings.
AMRN is looking good, I think it may break more multiyear highs soon. The volume pattern accompanying this lastest spike is different, the volume looks for real this time around, not to mention 2 sessions ago AMRN experienced its highest volume ever.
paddypaws,
Can you please post the URL for this news article?
Cheers,
http://www.newratings.com/analyst_news/article_1515676.html
I hope you guys are out of AMRN. ???
Thankfully I never bought...even though the chart looked good.
News today will kill AMRN for a while.
Amarin Reports Top-Line Results of two Phase III Studies of Miraxion in Huntington's Disease
Tuesday April 24, 8:59 am ET
Conference Call Begins Today at 11:00 a.m. Eastern Time
LONDON, April 24 /PRNewswire-FirstCall/ -- Amarin Corporation plc (NASDAQ: AMRN - News; "Amarin" or the "Company") today announces top-line results from its two Phase III clinical trials of Miraxion to treat Huntington's disease (HD). The Company conducted two Phase III double-blind, placebo-controlled studies in which HD patients were randomized to receive either placebo or 2 grams (1 gram twice daily) of Miraxion daily for six months. Study data showed no statistically significant difference in either study between Miraxion and placebo with regard to the primary and secondary endpoints.
ADVERTISEMENT
These top-line findings are inconsistent with earlier clinical trial data that showed statistical significance in a subset of HD patients with a CAG repeat length of less than or equal to 44.
The primary endpoint of the trials was a change in the Total Motor Score 4 (TMS-4) component of the Unified Huntington's Disease Rating Scale (UHDRS). TMS-4 has been shown to be a sensitive measure of movement disorder in patients with HD. In addition, secondary endpoints included cognition and Total Functional Capacity outcomes. Miraxion was found to be safe and well-tolerated by patients.
Commenting on today's announcement, Rick Stewart, Chief Executive Officer of Amarin, said, "We are extremely surprised and disappointed by these top-line results, and we are analyzing the data in order to better understand the full and complete data set and outcomes. We are particularly disappointed that, at this time, we are not in a position to bring any positive news to those patients who are suffering from this devastating disease and to the broader HD community."
"Despite this setback with Miraxion to treat HD, we remain committed to developing Amarin's substantial central nervous system (CNS) development pipeline." commented Mr. Stewart. "We continue to evaluate the potential of Miraxion in treating CNS disorders and specifically our next steps with respect to the HD trials. We also intend to progress the development of our novel, oral formulation of apomorphine to treat the 'off' episodes in advanced Parkinson's disease patients, our recently in-licensed nasal formulation of lorazepam for the out-patient treatment of emergency seizures in epilepsy patients and our proprietary combinatorial lipid pre-clinical program in CNS disorders and other indications." concluded Mr Stewart.
Thomas Lynch, Amarin's Chairman, added "Our commitment to neurology research and product development remains steadfast and we will continue to pursue other in-licensing opportunities while we advance our broad pipeline of products to treat CNS disorders. Amarin has in place an experienced and committed management team and a strong financial position with approximately $29 million in cash at the end of March 2007."
The first study, TREND-HD, was conducted in 42 sites in the U.S. and Canada by the Huntington Study Group (HSG) based at the University of Rochester Medical School in Rochester, N.Y. This study, led by Principal Investigator Prof. Ira Shoulson, enrolled 316 patients with HD. The TREND-EU Phase III study was conducted in 27 sites in six countries across Europe and was conducted in conjunction with the European HD Network. This study was led by Principal Investigator Prof. Bernhard Landwehrmeyer, and enrolled 290 patients with HD.
These trials were developed under a Special Protocol Assessment (SPA) agreed with the U.S. Food and Drug Administration (FDA) and Miraxion for HD has Fast Track designation by the FDA and Orphan Drug designation in both the U.S. and in Europe.
Thankfully I was on the sidelines as well; it is trading at 0.74 (down -80.11%) as of now.
Cheers,
I got in AMRN on april 24, 2007 at 0.73 for a short term play.
It looks like it had an extreme exuberance in reaction to the news (which coincidentally , opened near the lowest linear regression line).
It looked like a lot of automatic market sell order stop losses were triggered by the gap down.
I was expecting time and sales to be mainly red, and for price to go down at least 20% to get in with a dead cat bounce, but it had blocks of green instead.
I got in because the price had a positive open signal and green blocks were coming in.
I was tempted to exit my position at 0.85 but decided against it and held overnight (since it looked strong).
AMRN went up at least 20% above the open and closed near the high of the day.
The price is currently at the lowest line of the linear regression and RSI(2) is below 20.
It would be nice if AMRN would have a "morning star" tommorow.
The news as far as I'm concerned is a set back and NOT a fatal one like bancruptcy or shut down.
"Despite this setback with Miraxion to treat HD, we remain committed to developing Amarin's substantial central nervous system (CNS) development pipeline." commented Mr. Stewart. "We continue to evaluate the potential of Miraxion in treating CNS disorders and specifically our next steps with respect to the HD trials. We also intend to progress the development of our novel, oral formulation of apomorphine to treat the 'off' episodes in advanced Parkinson's disease patients, our recently in-licensed nasal formulation of lorazepam for the out-patient treatment of emergency seizures in epilepsy patients and our proprietary combinatorial lipid pre-clinical program in CNS disorders and other indications." concluded Mr Stewart.
Thomas Lynch, Amarin's Chairman, added "Our commitment to neurology research and product development remains steadfast and we will continue to pursue other in-licensing opportunities while we advance our broad pipeline of products to treat CNS disorders. Amarin has in place an experienced and committed management team and a strong financial position with approximately $29 million in cash at the end of March 2007."
AMRN had a higher high and a higher low and also pushed the stochastics closer to below 20 which is an oversold condition.
Quote from: Ares on April 25, 2007, 05:02:11 PM
AMRN had a higher high and a higher low and also pushed the stochastics closer to below 20 which is an oversold condition.
I agree. It appears to be oversold and this is only a setback. I think we'll regain some ground and be over $1 in a few weeks. This is definitely a buying opp IMO.
Quote from: dragonamg on April 25, 2007, 07:41:02 PM
Quote from: Ares on April 25, 2007, 05:02:11 PM
AMRN had a higher high and a higher low and also pushed the stochastics closer to below 20 which is an oversold condition.
I agree. It appears to be oversold and this is only a setback. I think we'll regain some ground and be over $1 in a few weeks. This is definitely a buying opp IMO.
Wait...this happens nearly every time a biotech drops after a failed drug.
Take a look at other biotechs that have gapped down huge like this. It usually takes at least 3 to 4 months before the stock jumps back in the gap to the upside.
Examples below::
Before you get in, I just want to make sure that you know I am using the RSI(2) which is a short term buying and selling indicator.
Please do your DD.
I have 1,000 shares in here and will get out when I see an opportunity and get in again if I see another one.
My plan of action here is to study the dominant market maker's action and try to shadow it.
There may be a market maker that will be dominant for a particular day but my goal is to identify the main one.
What I've read from other boards is they are eyeing the 0.50 cent support area.
For now, it looks oversold at this level and I will be watching AMRN closely.
For the longer term outlook,( few weeks to few months, it looks like the company has enough cash to survive.
Happy trading,
Ares
PS. attached is a chart of VG when RSI(2) was low and stochastics was low.
I have to find a better example since this is not a gap down but an oversold, overbought condition.
I finally found an example close to AMRN's setup.
I think AMRN's set up is even better than AMCC's because the gap down of AMRN closed near it's high compared to AMCC closing near its low.
I found AMCC from this link taken from the yahoo board.
http://buyonpanic.com/
Still holding 1,000 shares of AMRN at 0.73 just in case it goes up quickly.
I had a few chances to get out at a profit but decided against it because I may miss the main move.
I may buy another 1,000 shares to daytrade.
A lot of people seem to look at the 0.50 as a strong support.
If it goes down there, my buy target is 0.51 and sell target will be 0.67 for a day trade.
If AMRN goes down to zero with my 1,000 shares at 0.73, my risk is currently at 0.73 cents, the reward is at 1.72.
Even better if AMRN fills the gap.
It would be nice if AMRN would react like LEND.
Here's a copy of the post from yahoo.
buyonpanic.com should profile AMRN (5 Ratings) 24-Apr-07 04:50 pm they profiled LEND and KMA and those both rebounded nicely.
this stock (AMRN) is the poster child of panic.
Sentiment : Strong Buy
Rate it:
sheezymcneezy
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Attached is a chart of LEND.
Ares,
I hate to say it but AMRN will not likely enter that gap for a couple months...maybe more.
Biotech stocks that gap down on poor drug trial or FDA dissapproal take 3 to 4 months just to get above the gap. Here are some more recent biotech drug stocks that got hammered and haven't recovered. AGIX...and ADLR
AMRN is a
biotech stock that got hammered by poor drug sturdy.
LEND is a sub-prime mortgage company.
Comparing apples and oranges.
I hope...I'm wrong...but I have yet to see a
Biotech stock gap down like that and recover very quickly.
Best of Luck
Quote from: Ares on May 01, 2007, 04:19:41 AM
It would be nice if AMRN would react like LEND.
Here's a copy of the post from yahoo.
buyonpanic.com should profile AMRN (5 Ratings) 24-Apr-07 04:50 pm they profiled LEND and KMA and those both rebounded nicely.
this stock (AMRN) is the poster child of panic.
Sentiment : Strong Buy
Rate it:
sheezymcneezy
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Attached is a chart of LEND.
Hi kslifka,
Thanks for your input.
I'm currently watching AVNR right now.
I was in at 3.57 yesterday and held it overnight.
I had my finger on the sell button at 4.05 but hesitated and missed it.
What's your opinion on this?
Thanks.
Looking forward to your comments.
Ares
from Dutton research:
Amarin's Stock Collapses
Amarin's stock declined about 80% on Tuesday, and fell a bit further on Wednesday. This followed disclosure that top line results of the two Phase III clinical trials of Miraxion to treat Huntington's disease (HD) showed no statistically significant difference in either study
between Miraxion and placebo with regard to the primary and secondary endpoints. This study involved more than 600 patients and represented the largest therapeutic program in HD ever conducted.
Recall that Miraxion has been Amarin's key compound, and had been granted fast track designation by the FDA for treatment of HD. Moreover, earlier clinical trial data did show statistical significance in a subset of HD patients. We published an update report on Amarin on February 28, and since that time the stock attracted increased interest and rose from
$1.74 to last week's high of $4.32 (nearly reaching out price target of $4.50), clearly in anticipation of positive results from the Miraxion trial. In the interim, we also judged that certain developments pointed to favorable results from the trial, not that we had any anecdotal
information ourselves, but we noted with interest the following:
Dr. Simon Kukes, a non-executive member of the Board of Directors of Amarin, purchased 500,000 American Depositary Shares of Amarin on March 12, at an average price of $2.50, and then purchased 285,000 ADSs on March 14, thereby increasing his holdings to
8.27 million ADSs, or 9.12% of the Company.
On April 3, Paul F. Duffy was appointed President-U.S. Commercial Operations, following more than 30 years of neuroscience sales and marketing experience with Novartis Pharmaceuticals.
On April 10, Dr. Declan Doogan joined the Company as President, Research & Development. He had previously been Senior-Vice President and Head of Worldwide Development at Pfizer Global Research & Development, and had held a number of senior positions with Pfizer since joining that company in 1982.
Surely these three individuals, together with others at the Company, were convinced about Amarin's bright future, and presumably were convinced specifically about Miraxion's potential in treating HD.
As of March 31, Amarin has cash of approximately $29 million, which should be adequate to fund the cash burn for at least the next 12 months, and in today's conference call management pointed to several other product development programs in its pipeline. There will also be a careful analysis of the Miraxion data to reach a conclusion about its future.
In short, Amarin does have several assets, but today's setback is major and we will need to carefully evaluate the current and potential value of the Company's assets to reach a new conviction about its near and longer term prospects. We have therefore downgraded our recommendation to neutral, and removed a near term price target.
http://www.knobias.com/research.pdf?id=10880
Looks like AMCC is doing better than AMRN.
I should have waited for the MACD histogram to lose downward momentum and for stochastics to be way oversold before going long.
Still holding 1,000 shares of AMRN at 0.73 cents.
Interesting if you read some of the previous posts over the past year and you look at the PPS now, you can understand why this stock lost its interest.
Delisting is hanging over their head by December but I believe this stock still has upside potential even after the failure of the p3 trials.
Cheers
She is bouncing off the bottom of the chart. Soon...
Cheers
I am still accumulating this little biotech bugger.
Cheers
AMRN: earnings release before the bell.
They had some really good news on Huntington's desease yesterday.
Definately one to keep on watch for those who are not in yet.
Cheers
SIGNS AGREEMENT TO ACQUIRE COMPANY BASED IN ISRAEL: Amarin Corporation plc
(AMRN) has signed an agreement to acquire Ester Neurosciences Limited, a private research
and development company based in Israel. The acquisition is expected to close tomorrow. The
initial consideration is $15 million, plus up to $17 million in contingent payments. Ester's core
assets include a platform messenger RNA (mRNA) silencing technology which targets the cholinergic
pathway; EN101, a Phase II compound with promising efficacy data for the treatment of
myasthenia gravis; and a preclinical program in neurodegenerative and inflammatory diseases.
Amarin also received financing commitments for approximately $8.1 million in gross proceeds
in connection with public offerings of equity, three-year convertible debt and warrants. Directors
and officers committed $1.7 million. The financing is expected to close this week. The Company
will also hold a General Meeting in January 2008 at which shareholders will be asked to approve
a 1-for-10 reverse stock split, which is part of Amarin's definitive plan to regain and sustain compliance
with Nasdaq listing requirements.