Irish drug developer Amarin Corp. plc, with R&D operations in New London, widened its loss in 2010 but says it remains on course toward approval for its preventative treatment against heart disease other metabolic disorders.
Amarin lost $249.6 million, or $2.49 a share, in the 12 months ended Dec. 31, up from a loss of $30.6 million, or 72 cents a share, the same period in 2009.
The bulk of the 2010 loss was due to a change in the fair value of an unspecified derivative liability, Amarin said.
Its 2010 operating loss was $45.1 million vs. a loss of $34 million in 2009.
Amarin is in clinical-stage development of AMR101 to treat elevated triglyceride levels tied to high risk of heart disease and other metabolic disorders, such as diabetes and obesity.
