Boston, MA 10/10/2013 (wallstreetpr) – Amarin Corporation plc (ADR) (NASDAQ:AMRN) has set Oct. 16 as the date for conference call to deliberate the results from the meeting of FDA advisory committee regarding its patented Vascepa drug. This conference call comes ahead of the Q3.13 earnings release on Nov. 4.
The biopharmaceutical company is seeking approval of Vascepa in treatment of high triglycerides in adults. The drug is proposed as an adjunct to diet. The AMRN senior management will deliver keynote speeches on the conference day which is set to begin 7.00 pm ET.
AMRN is a well-known name in the biopharm industry as the company has deep interest and contribution in cardiovascular health. It particularly develops and commercializes therapeutics for cardiovascular conditions.
Customarily, FDA advisory committee steps in to offer independent advice to the Food and Drugs Administration on matters relating to veterinary and human drugs under which AMRN’s Vascepa falls. This advisory body also dispenses advice to FDA on vaccines, med products and services as well as food. The advisory committee brings together industry players, consumers and other stakeholders in the food and drugs sector.
The details about the FDA’s advisory committee results have not yet been made public until the conference call on Wednesday. However, observers are already dispensing their views of what to expect on the market and stock exchange platform if AMRN gets away with its proposal for the new drug.
For a drug developer the size and statue of AMRN, investor community is more interested on just how great this new drug can translate into fat revenue.
For this reason, several analysts are tempted to paint a bullish image of the stock in the exchange market. AMRN currently has a market value of $1.08 billion. It’s 52-week long rally trade at $12.96 on the upper boundary and $5.12 on the lower boundary. The stock shed 5.83 ($0.39) to close down at $6.30 on Wednesday.
