Irish biopharma Amarin Corp. PLC, whose research operations are in Stonington, narrowed its second-quarter loss entering the home-stretch in delivering a synthetic fish-oil pill to combat heart disease.
For three months ended June 30, Amarin lost a net $53.9 million, or 38 cents a diluted share, down from its net loss of $202.1 million, or $1.58 a share, the same period last year.
Amarin posted no revenues in either quarter.
At June 30, Amarin had $250.3 million in cash and equivalents available to fund operations until its first product hits the market, more than double the $116.6 million on hand the same time last year.
But it was the company’s drug R&D milestones achieved in the latest period that were the key topics in Amarin’s earnings report Thursday.
In the quarter, U.S. drug regulators approved its Vascepa omega-three fatty acid capsule as a dietary supplement to reduce triglyceride levels in the bloodstream that are harmful to the heart.
Vascepa also is undergoing several third-party efficacy trials involving the National Lipid Association and the American Diabetes Association.
Amarin also was issued the first of some two dozen patents filed in the U.S. and abroad for its various treatment candidates.