Amarin’s Late-Stage Cholesterol Drug Meets Study Goals
NEW YORK (AP) — Amarin Corp.'s stock jumped in premarket trading today after the drug developer said its experimental drug reduced triglycerides and "bad" cholesterol in late-stage testing.
Its shares climbed $6.22, or 71 percent, to $14.99 in premarket trading.
Amarin said the study showed the drug, called AMR101, was more effective than a placebo at reducing both triglycerides and LDL cholesterol, or "bad" cholesterol, after 12 weeks. In the trial, the drug was tested on patients who had with high triglyceride levels and at least two lipid disorders with a high risk of heart disease.
All the patients were already being treated with statin drugs like Lipitor, Crestor, and Zocor. They also took 2 milligrams or 4 milligrams of AMR101 per day, or a placebo.
Amarin, based in Dublin, said the study demonstrates that its drug can reduce triglycerides without raising LDL cholesterol. The company said about 40 million people have high triglycerides, most within the ranges of patients in the study.
The company has no products on the market. It plans to file for marketing approval of AMR101 by the end of the third quarter.
The company said patients who took the 2-milligram dose had a 10.1 percent reduction in triglycerides and a 3.6 percent reduction in LDL cholesterol compared with patients who took a placebo. Patients who took the higher dose had 21.5 percent less triglycerides and 6.2 percent lower LDL cholesterol.
Amarin said patients in the trial were at high risk for heart problems despite statin therapy. It said 73 percent of the patients in the trial were diabetic.
In November, Amarin said the drug met its goal in a study involving patients with very high triglyceride levels.
Amarin shares closed at $8.77 Friday and have traded between $1.62 and $9.66 in the last year.