Wedbush Comments on Amarin's (AMRN) Latest MARINE Family Notice of Allowance
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Price: $14.07 -0.57%
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush commented on Amarin Corporation (NASDAQ: AMRN) Monday afternoon in light of another Notice of Allowance to MARINE-family applications.
The firm notes today's '247 application is part of the MARINE methods-of-use family and claims the use of Vascepa without specifying use of other lipid lowering agents, such as statins. The '247 application appears to be closely related to the ‘775 application (13/608,775) for which Amarin announced a Notice of Allowance one week ago, they note. The '247 and '775 applications are part of a group of 5 applications filed very recently in mid-September 2012, and are not yet posted to the USPTO's PAIR website which we use to track patent applications, the firm also notes. "It appears that the key differences between the '247 and '775 applications are: (1) '247 possesses claims gauging Vascepa's effects against a patient's own baseline whereas '775 possesses claims gauging Vascepa's effects against a placebo control, and (2) the ‘247 application posses an additional independent claim regarding Vascepa's effects on a patient population basis," analyst Akiva Felt notes.
Felt expect up to 3 more Notices of Allowance for related MARINE applications in the near-term, along with issuance of an additional MARINE patent tomorrow.
The analyst said while progress in MARINE-family IP should be priced in, a potential upcoming issuance of the first Notice of Allowance for ANCHOR-family patent application represents modest catalyst potential over the next 1-2 months. This being said, they continue to believe that newsflow related to strategic discussions and NCE will mostly outweigh patent-related news over the broader-term.
The firm reiterated their Neutral rating and price target of $15.00
For an analyst ratings summary and ratings history on Amarin Corporation click here. For more ratings news on Amarin Corporation click here.
Shares of Amarin Corporation closed at $11.21 yesterday.
The firm notes today's '247 application is part of the MARINE methods-of-use family and claims the use of Vascepa without specifying use of other lipid lowering agents, such as statins. The '247 application appears to be closely related to the ‘775 application (13/608,775) for which Amarin announced a Notice of Allowance one week ago, they note. The '247 and '775 applications are part of a group of 5 applications filed very recently in mid-September 2012, and are not yet posted to the USPTO's PAIR website which we use to track patent applications, the firm also notes. "It appears that the key differences between the '247 and '775 applications are: (1) '247 possesses claims gauging Vascepa's effects against a patient's own baseline whereas '775 possesses claims gauging Vascepa's effects against a placebo control, and (2) the ‘247 application posses an additional independent claim regarding Vascepa's effects on a patient population basis," analyst Akiva Felt notes.
Felt expect up to 3 more Notices of Allowance for related MARINE applications in the near-term, along with issuance of an additional MARINE patent tomorrow.
The analyst said while progress in MARINE-family IP should be priced in, a potential upcoming issuance of the first Notice of Allowance for ANCHOR-family patent application represents modest catalyst potential over the next 1-2 months. This being said, they continue to believe that newsflow related to strategic discussions and NCE will mostly outweigh patent-related news over the broader-term.
The firm reiterated their Neutral rating and price target of $15.00
For an analyst ratings summary and ratings history on Amarin Corporation click here. For more ratings news on Amarin Corporation click here.
Shares of Amarin Corporation closed at $11.21 yesterday.
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