Amarin shares fall 79% as Miraxion fails at Ph III

London, UK-headquartered neuroscience specialist Amarin's potential Huntington's disease drug Miraxion (eicosapentaenoic acid) failed to meet both primary and secondary endpoints in two Phase III trials. The news caused the firm's share price to nose-dive 79.2% to $0.79 in morning trading on the Nasdaq on April 24.

The company conducted two Phase III double-blind, placebo-controlled trials in which HD patients were randomized to receive either placebo or 1g twice daily of Miraxion for six months. Study data showed no statistically significant difference between Miraxion and placebo with regard to the primary enpoint - change in the Total Motor Score 4 versus the Unified Huntington's Disease Rating Scale - nor the secondary endpoints, which included cognition and Total Functional Capacity outcomes. Amarin said it is still analyzing the findings and will also evaluate Miraxion's potential in other central nervous system disorders.