Amarin completes public offering at $7.60 per ADS

Jan 11 2011

Amarin Corporation plc, a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today announced that it has completed its previously announced underwritten public offering of American Depositary Shares ("ADSs") at a price to the public of $7.60 per ADS.

Due to the exercise in full of the underwriters' over-allotment option, the company sold a total of 13,800,000 ADSs in the offering for an aggregate public offering amount of approximately $104.9 million, and received approximately $100.2 million of net proceeds from the offering, after deducting the underwriting discount and estimated expenses of the offering payable by the company.

Amarin anticipates using the net proceeds from the offering to prepare for the commercialization of AMR101, file a New Drug Application and for working capital and general corporate purposes.

SOURCE Amarin Corporation plc