Amarin Corporation plc (ADR): Request for Continued Stay in Court Proceedings Submitted in Amarin First Amendment Litigation
Amarin Corporation plc (ADR) (NASDAQ:AMRN) announced that parties to the Amarin First Amendment litigation have jointly requested a continued stay in court proceedings. Following the August 7, 2015 preliminary relief order granted in favor of Amarin and the physician plaintiffs, the Court was notified that the parties had conferred and agreed to explore the possibility of settlement. As settlement discussions remain ongoing, the parties have requested that further court proceedings be stayed until March 18, 2016. At or before that time, the parties will again file a letter advising the Court of any updates with regard to next steps.
The August 7th declaratory judgment that confirmed Amarin may engage in truthful and non-misleading speech promoting the off-label use of Vascepa remains in effect. (Original Source)
Shares of Amarin Corporation Plc closed yesterday at $1.32, up $0.06 or 4.76%. AMRN has a 1-year high of $3.33 and a 1-year low of $1.17. The stock’s 50-day moving average is $1.52 and its 200-day moving average is $1.94.
On the ratings front, Oppenheimer analyst Akiva Felt assigned a Hold rating on AMRN, in a report issued on December 9. According to TipRanks.com, Felt has a total average return of -2.2%, a 32.5% success rate, and is ranked #2961 out of 3610 analysts.
Amarin Corp PLC is a biopharmaceutical company with expertise in lipid science. The Company is engaged in commercialization and development of therapeutics to improve cardiovascular health.