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Amarin raises additional funds from offering

Amarin Corp. PLC said it issued an additional 1,438,356 American depositary shares as part of its previously announced offering.

The shares, priced at $3.41 apiece, were issued to the offering's underwriter who exercised its so-called overallotment option.

Cantor Fitzgerald & Co. was the sole book-running manager for the offering.

The sale of the ADSs, which closed March 5, increased the size of the offering to an aggregate of about $75.2 million from $70 million previously.

Dublin-based Amarin intends to use the net proceeds from the offering for marketing efforts ahead of the release of the results from the REDUCE-IT study related to heart diseases.

Amarin's clinical development program for Vascepa includes publishing results from the REDUCE-IT study, which enrolled 8,175 patients and commenced in 2011. Top-line results are expected by the end of the third quarter of 2018.