Lower research costs narrow Amarin loss

Tuesday 20 May 2008 08.31
Lower research costs narrow Amarin loss

Pharmaceutical company Amarin has reported a net loss of $8.2m for the first three months of 2008, slightly narrower than the $8.8m in the same period last year.

The company said the smaller loss was mainly due to lower spending on research and development. This was due to the completion of Amarin's third-phase trials for AMR101 in Huntington's disease.

Earlier this month, Amarin announced plans to raise up to $60m (€39m) through a placing of its US shares. It says it now expects to have enough cash to fund operations for at least the next 12 months.

Amarin is listed on the Nasdaq market in New York and on Dublin's IEX market.