Shares of biotech company Amarin (NASDAQ: AMRN ) , already down more than 70% in the last month, fell another 13% after it announced that the FDA has rescinded its SPA (Special Protocol Assessment) for Vascepa. The fledgling biotech not only faces competition from heavyweights like GlaxoSmithKline (NYSE: GSK ) and AbbVie (NYSE: ABBV ) , but has now also lost the opportunity to gain expanded approval for its drug, limiting its market potential.
For the full scoop on this story, health-care analyst Max Macaluso discusses the details and the outlook for Amarin in the following video.
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