Amarin Up 7% After FDA Announces it Will Not Convene FDA Panel for AMR101

Shares of Amarin

are up nearly 7% after the company announced that it would not convene an FDA panel to study its AMR101 drug. The company announced today that it was informed by the U.S. Food and Drug Administration that no advisory committee meeting will be scheduled in connection with the FDA's review of the New Drug Application seeking approval for the use AMR101 in the treatment of patients with very high triglycerides, the company's lead product candidate. The FDA has previously assigned a Prescription Drug User Fee Act date of July 26, 2012 for completion of its review of the AMR101 NDA.