Pharmaceutical company Amarin has reported a net loss of $8.8m for the first quarter of 2007, compared with a $9m loss a year earlier.
The company's share price tumbled last month after trials of its Miraxion treatment for Huntington's disease failed to show any significant benefits.
Amarin has said that while Miraxion may have potential in other areas, it will write off the estimated $9.5m value of the asset in this year's second quarter results.
The company's spending on research and development in Q1 was $4.4m, up from $1.6m, because of the Miraxion trials.
In its annual report, the company warned that its listing on the New York Nasdaq market may be at risk as its share price has recently fallen below the minimum $1 level. Amarin said it had $29m in cash reserves at the end of March 2007, enough to fund its business for at least the next 12 months.
