As at December 31, 2007, the Company had cash balances of $18.3 million. As previously reported, on May 14, 2008, Amarin announced a private placement of ordinary shares for up to $60 million to be funded in two equal tranches. Amarin expects to announce the closing of the first tranche shortly. The investors in this funding have an option to fund up to $30 million in the second tranche, upon completion of certain business milestones by the Company. Amarin now forecasts having sufficient cash to fund operations for at least the next 12 months.
Amarin is a biopharmaceutical company focused on improving the lives of
patients suffering from cardiovascular and central nervous system (CNS)
diseases. Amarin's cardiovascular programs capitalize on the known
therapeutic benefits of essential fatty acids in cardiovascular disease.
Amarin's CNS development pipeline includes programs in myasthenia gravis,
Huntington's disease, Parkinson's disease, epilepsy and memory. Amarin also
has two proprietary technology platforms: a lipid-based technology platform
for the targeted transport of molecules through the liver and/or to the
brain, and a unique mRNA technology based on cholinergic neuromo
|SOURCE Amarin Corporation Plc|
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