4 Biotech Stocks on the Move
The week before Christmas has certainly been an unusually active one in the world of biotechnology. Several stocks have surged on extremely favorable developments: Amarin Corp. (NASDAQ:AMRN), Ariad Pharmaceuticals (NASDAQ:ARIA), Gentium S.p.A. (NASDAQ:GENT), and Jazz Pharmaceuticals (NASDAQ:JAZZ).
Amarin Corp. is a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health. Shares of the company surged Friday morning by more than 25 percent on news that the Food and Drug Administration is considering reinstating a special protocol assessment for Amarin’s fish oil pill called Vascepa. Vascepa is Amarin’s only approved product in the U.S. and is used for patients with unusually high triglyceride levels.
If the FDA reinstates the SPA agreement, Amarin would have a much easier time trying to achieve broader use for its pill. Last year, a panel that reviewed the drug said that while Vascepa has shown the ability to decrease fat levels, it wasn’t clear whether that would result in fewer heart attacks.