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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Amarin Corp | AMRN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 92.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 92.50 | 92.50 |
| Top Posts |
|---|
Posted at 24/8/2010 20:04 by lbo Last month, according to Sonderby, Amarin issued a filing that Elan had paid it $700,000 to regain control of a product that the latter had out-licensed for free.However, "[t]hese events would simply reflect a series of poor decisions by Elan's management were it not for Amarin's insistence, in their recent disclosure, on highlighting that Elan's Chief Financial Officer, Shane Cooke, is the brother of Amarin's then Chief Operating Officer, Alan Cooke," he adds. He goes on to write that U.S. companies are required to report insider dealings and conflicts of interest at an officer or director level, especially where family members are involved. He then questions Elan's claims that it practices a high level of corporate governance and asks the company's board to help him understand the transaction Read more: Sonderby strikes chord with angry Elan investors - FiercePharma Subscribe: |
Posted at 27/5/2009 07:39 by lbo Drug development company Amarin agrees bridging finance Drug development company Amarin has agreed bridging finance to fund company operations for the rest of 2009. Chief executive Tom Lynch said current investors in the group and some of its directors had agreed to fund the $2.6 million (1.8 million) package. He said the Nasdaq-listed business would continue "ongoing discussions" with both existing and potential investors in an effort to secure longer term funding. Mr Lynch said he was "very grateful for the support of a number of long-standing investors in this bridge financing". The bridging finance consists of convertible loan notes and warrants. The notes will pay interest of 8 per cent per annum. The warrants entitle investors to buy shares up to half their loan note entitlement. The bridging finance became necessary when investors who put up $28 million in May 2008 indicated they would not exercise their option to invest a further $28 million. |
Posted at 14/5/2008 13:44 by lbo Amarin to raise $60m from investors |
Posted at 05/6/2007 14:40 by lbo Amarin raises nearly 3m through issueTuesday June 05 2007 AMARIN, whose share price collapsed in April after its Miraxion treatment for Huntington's disease failed to show any significant benefits in trials, has raised $3.7m (2.7m) through the sale of shares and warrants. An affiliate of former shareholder Southridge Capital Management invested $3m, with Amarin directors stumping up the remaining $700,000. The company said it has placed 6.16m ordinary shares, priced at Amarin's closing price on the Nasdaq last Thursday of 60c. The investors also received warrants to purchase 0.6m shares at an exercise price of 72c. The number of new shares represents 5pc of Amarin's existing number of shares outstanding. Agreement In addition, Amarin has entered into an agreement that allows it to draw down on up to $15m of additional equity funding by Southridge over the next three years. Amarin was founded by former Elan finance director Tom Lynch, who owns 18pc of the company. The company said last month that it had built up a "valuable" development pipeline for new drugs, despite the Miraxion disappointment. Chief executive Rick Stewart said the company intended to develop this pipeline for the treatment of Parkinson's Disease, epilepsy seizures and other central nervous system disorders. Trials "The completion of this funding enables us to pursue the development of our four key programmes, three of which could potentially be in Phase II trials next year," said Stewart. Drugs must go through three phases of clinical trials before a filing can be made for regulatory approval. Amarin is quoted on the Dublin marlet and also on the screen bases NASDAQ market in New York. |
Posted at 31/5/2007 13:58 by lbo Looks like they want to float another Elan dog! Merrion's $46m IPO to fund its new drugs MERRION Pharmaceuticals' upcoming initial public offering (IPO) of up to $46m of stock will be used to fund the development of its drugs pipeline, which will initially cost $35m. The company's draft prospectus, filed with the US Securities and Exchange Commission (SEC), said that the fresh capital will not be enough to fund all its clinical trials. The company is currently on the lookout for a licensing partner to bring its most advanced drug, an osteoporosis treatment called MER 103, through Phase III trials. This is the final stage before an application is made for regulatory approval. The new licensee will carry future clinical development costs for the treatment. The osteoporosis drugs market was worth over $7bn in 2005, according to research company Business Insights. Merrion's focus is on drugs with potential market value in excess of $300m. It will also seek out partnerships for other pipeline drugs, including one for bone cancer which is in Phase II, and treatments for prostate cancer and deep vein thrombosis, both of which are at the pre-clinical phase. Merrion, led by Michael McKenna, was founded by Growcorp, an Irish life sciences venture capital company, in 2003 to exploit drug delivery technology that was bought from Elan for $2.5m. It is seeking a listing on the Nasdaq in New York as well as London's Alternative Investment Market (AIM) and IEX in Dublin. The company has generated $200,322 in revenues and made a total loss of $12.4m since its inception. The company has so far brought in about $24m in debt and equity fund-raisings. Investors include Irlandia, the investment vehicle of Ryanair founder Tony Ryan. Irlandia's managing director, Declan Ryan, a son of Tony, is chairman of Merrion. Other investors include Cork venture capital (VC) firm Kernel Capital Partners, Enterprise Ireland and private investors. Elan still owns about 5pc of the company. The draft prospectus does not give a date for the IPO, a valuation for the company or details on how many shares will be issued. |
Posted at 01/5/2007 18:14 by keelingr .....in response to an emal i sent them...Thank you for your interest in Amarin. We were all disappointed in the trial results for Miraxion to treat Huntington's disease, and felt that it was necessary to get those top line results out to investors immediately rather than risk having the data leaked out in any other way. The complete analysis will take some time and the clinicians and researchers are diligently working to bring those results as expeditiously as possible. Amarin has a pipeline of CNS products with tremendous potential. The company's novel, oral formulation of apomorphine for the treatment of "off" or "frozen" periods in advanced Parkinson's patients has a market potential of $100+ million. The company's recently licensed nasal formulation of lorazapam to treat seizures associated with epilepsy has a market potential of $300 million. Currently, the company has approximately $29 million and feels confident that this can fund the company through to key data points for these very promising programs. The management team was recently strengthened with two key hires as they have the experience and industry know-how to move forward with these product candidates and to advise on potential in-licensing of other promising CNS drugs. Management will be providing an update to investors on the progress, plans and timelines for Amarin's pipeline of products at two upcoming investor conferences. Rodman & Renshaw on May 15th and Banc of American on June 1st. Both of these investor presentations will be webcast and we urge you to listen in. More information about the specifics of the webcasts will be issued in advance of each conference. Your continued support is greatly appreciated. We will continue to keep you apprised of the Company's progress. Best regards, Anne Marie |
Posted at 30/4/2007 08:29 by lbo patrick, I think the company is doing a good enough job on its own "to scare out" investors!With its cash burn it barely has enough cash to last the year and from your own article all it has left is "a handful of highly-speculative, early-stage drug targets that could take many years to deliver a return" |
Posted at 28/4/2007 12:10 by lbo All confidence by investors and the brokers is now gone in the guys who were involved in Elan and now Amarin IMHO. "There were also some bitter pills to be swallowed by followers of the pharma sector. Elan lost 5pc to 10.28 as a disappointing uptake of the group's multiple sclerosis treatment Tysabri, which was relaunched last year, led to the company posting a wider-than-expected first quarter loss of $93m. But Elan's woes pale in comparison to Amarin's 80pc share price collapse after it said that its pipeline Huntington's disease drug Miraxion had failed in two late stage trials. The news was all the more shocking following a decent run by the stock, particularly in light of broker upgrades from Davy Stockbrokers and Goodbody Stockbrokers in recent weeks amid high hopes for the drug" |
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