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So what: The company will sell 12 million American depositary shares at $7.60 per share and is expecting to net $87.1 million after expenses. The company will use the money for the commercialization of AMR101, working capital, and general purposes.
Now what: The market was worried about this offering yesterday, pushing shares lower, but the pricing has given investors renewed confidence today. After an upgrade from Wedbush analysts over the weekend, I think shares have room to run in 2011. The stock has been on a hot streak for nearly a year, but with the new cash Amarin will keep chugging in the new year.
Interested in more info on Amarin? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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