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Finance Watch: Amarin Raises Cash To Boost Vascepa Marketing Under Soon-To-Be Expanded Label

 
• By Mandy Jackson

Public Company Edition: Two months before the deadline for the company's sNDA, the US FDA has not indicated it will hold an advisory committee meeting for the triglyceride-lowering drug. Also, Seattle Genetics raises $575m, Atara and Ra bring in $150m each and Cara completes $145.5m offering.

Finance Watch

Aside from disappointment for some investors that an acquirer hasn't surfaced to buy Amarin Corp. PLC – developer and marketer of the prescription-grade purified fish oil pill Vascepa (icosapent ethyl) – the company has been making steady progress as promised over the last several months. Now, it has raised $460m to continue with plans to double the size of its Vascepa sales team and increase advertising for its triglyceride-lowering drug in anticipation of an expanded label in the US.

Dublin-based Amarin sold 25.56m American depository shares (ADSs) at $18 each to gross $460m in a follow-on public offering (FOPO) that closed on 29 July. The company's stock rose 0.8%,...

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