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09.08.2019 19:48:47

Why Amarin Stock Is Tanking Today

Shares of Amarin (NASDAQ: AMRN) are down by a whopping 16.7% as of 12:03 p.m. EDT on Friday. The drugmaker's stock is getting pummeled in response to the news that the Food and Drug Administration (FDA) has indeed decided to convene an advisory committee meeting to discuss the company's proposed label expansion for the prescription omega-3 pill Vascepa. Image source: Getty Images.Last week, Amarin's management noted that an advisory committee meeting was no longer likely in its view, given that the drug's Prescription Drug User Fee Act (PDUFA) goal date of Sept. 28 was less than two months away. So it's not entirely surprising that some investors are heading for the exits in the wake of this unexpected regulatory update.     Continue reading
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