Irish drug developer Amarin Corp. plc, with research and development headquarters in New London, said Thursday its two clinical trials for a heart-disease treatment are moving ahead of schedule.
Amarin also said its approximately $44 million in cash on hand as of March 31 is more than enough to support the trials.
Amarin began enrolling participants in the Phase 3 trials earlier this year and is on pace to announce trial results in 2011, roughly a year ahead of schedule.
The “Anchor” trial is targeting 650 patients at 80 clinical sites in the U.S. The “Marine” trial will enroll up to 240 patients in 50 clinical sites in the U.S., India, Finland, The Netherlands, Russia and South Africa.
Both trials will test Amarin’s AMR101 treatment for reducing high levels of triglycerides, the bloodstream’s fatty chemical linked to clogged and hardened arteries.
Amarin’s interim CEO Dr. Declan Doogan said $5 million of the $8 million the company spent in the first quarter went to support the trials.
