Equity Briefing : Encouraged by Patent Win; Roth Reiterates Buy Rating and Amarin's $21 price target

Encouraged by AMARIN's (NASDAQ:AMRN) additional patent win, the equity research team Roth Capital is confirming their belief that Amarin's patent drama is continuing to work itself out and has reiterate our Buy rating and $21 price target. In a flash note to clients, Joseph Pantginis, Ph...

Encouraged by AMARIN's (NASDAQ:AMRN) additional patent win, the equity research team Roth Capital is confirming their belief that Amarin's patent drama is continuing to work itself out and has reiterate our Buy rating and $21 price target.

In a flash note to clients, Joseph Pantginis, Ph.D, analyst at ROTH Capital, states that the cost-effectiveness of MDGN's products indicates significant future shares in sizeable markets; noting:

"We are encouraged by the allowance of an additional patent covering AMR101 formulation, and believe that the company is on the right track towards a strong IP position to offer AMR101 exclusivity through 2030.

"The FDA is undergoing an active review of AMR101, with a PDUFA date of July 26, and Amarin expects a potential launch for AMR101 in 1Q13. The question remains which of the 3 possible commercialization routes for AMR101 will be taken by the company: 1) AMRN acquisition 2) partnership or 3) going it alone. While management discussions in 2011 around partnering/acquisition were prominent, we note that 2012 language on the topic has become more conservative. This is to temper expectations, in our view; however, we still believe a partnership is a feasible scenario."

Amarin Corporation is a clinical-stage biopharmaceutical company focused on improving the treatment of cardiovascular disease. Amarin's lead candidate, AMR101, is currently being studied in two concurrently run pivotal Phase 3 trials.

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