AMRN

[la-onda]

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

[Ares]

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.

[stock-kitty]

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

[stock-kitty]

She is bouncing off the bottom of the chart.  Soon...


Cheers

[stock-kitty]

I am still accumulating this little biotech bugger.

Cheers

[stock-kitty]

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

[setravis]

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.