Amarin Regains Compliance With Nasdaq Listing Requirements
February 11 2008 - 6:00AM
PR Newswire (US)
LONDON, February 11 /PRNewswire-FirstCall/ -- Amarin Corporation
plc (NASDAQ:AMRND) today announced that it has received
notification from The Nasdaq Stock Market that the Company has
regained compliance with the $1.00 per share minimum bid price
requirement for continued listing on the Nasdaq Capital Market,
pursuant to Nasdaq Marketplace Rule 4320(e)(2)(E)(ii). In the
notification, Nasdaq advised that the Company has regained
compliance with all continued listing requirements and that this
matter is now closed. Thomas Lynch, Chairman and Chief Executive
Officer, commented "We are pleased to receive this notification, as
continued listing on Nasdaq is an integral part of our plans to
build shareholder value, having recently expanded our pipeline and
strengthened our management team." About Amarin Amarin is committed
to improving the lives of patients suffering from central nervous
system (CNS) and cardiovascular diseases. Our goal is to be a
leader in the research, development and commercialization of novel
drugs that address unmet patient needs. Amarin's CNS development
pipeline includes the recently acquired myasthenia gravis clinical
program and preclinical programs in neuromuscular, neuronal
degenerative and inflammatory diseases; Miraxion for Huntington's
disease; two programs in Parkinson's disease; one in epilepsy; and
one in memory. Amarin is initiating a series of cardiovascular
preclinical and clinical programs to capitalize on the known
therapeutic benefits of essential fatty acids in cardiovascular
disease. 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 neuromodulation. Amarin has its
primary stock market listing in the U.S. on the NASDAQ Capital
Market ("AMRN") and secondary listings in the U.K. and Ireland on
AIM ("AMRN") and IEX ("H2E"), respectively. In accordance with
customary Nasdaq practice, following Amarin's reverse stock split,
which took effect from January 18, 2008, a "D" will be appended to
Amarin's Nasdaq ticker symbol for a period of 20 trading days and
during that period Amarin's Nasdaq ticker symbol will appear as
"AMRND". The ticker symbol will return to "AMRN" on February 19,
2008. DATASOURCE: Amarin Corporation Plc CONTACT: Contacts: Amarin
+353(0)1-669-9020, Thomas Lynch, Chairman and Chief Executive
Officer, Alan Cooke, President and Chief Operating Officer, Darren
Cunningham, EVP Strategic Development and Investor Relations, ;
Investors: Lippert/Heilshorn & Associates, Inc., Anne Marie
Fields +1-212-838-3777, Bruce Voss +1-310-691-7100; Media:
Powerscourt +44(0)207-250-1446, Rory Godson, Paul Durman, Sarah
Daly
Copyright