Amarin CEO says investors should ‘understand’ the data as stock drops

Amarin CEO John Thero shrugged off the stock’s decline on Monday, telling CNBC in which any investor concerned about its latest clinical trial should take a better look at the data.

Shares of the biopharmaceutical company closed down 5.84 percent on Monday after hovering down roughly 7 percent much of the day.

“I think as people begin to understand our data better, they will appreciate in which This kind of drug does much more than lipid modification,” Thero said on “Power Lunch.”

Amarin shares finished the day at $19.82 after researchers began comparing the full study of the clinical trial for its fish oil capsule, Vascepa, released over the weekend, to September’s preliminary results.

The stock surged 300 percent after those early results, which showed the drug could reduce cardiovascular events by 25 percent. Shares of Amarin hit a high of $23.34 last Tuesday along with are up more than 380 percent year to date.

although researchers are concerned about whether mineral oil, which was given to the placebo group, negatively affected the placebo group’s results, doing the treatment group’s data appear better.

Thero defended the results, saying the mineral oil was reviewed along with approved by the Food along with Drug Administration prior to the study.

“We believe in our data,” he said. “We’ve presented our data at American Heart Association. This kind of’s important to have data subject to scientific debate.”

Thero also leaned on a peer review by the brand-new England Journal of Medicine. The journal concluded in which the mineral oil “couldn’t have explained This kind of significant result,” Thero said.

“We stand behind the results along with the published results inside the brand-new England Journal of Medicine along with believe in which This kind of can be a therapy which can be well positioned to help millions of people,” he said.

Amarin can be today working on its plan to grow its sales force by 250 along with focus on operational execution, Thero said.

“I think in which our execution will be recognized by the marketplace,” he said.

— CNBC’s
Meg Tirrell
contributed to This kind of report.

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