Amarin (AMRN -1.20%) gained FDA approval for its drug Vascepa last summer and this lipid-lowering compound is already available to patients in the U.S. However, the company announced today that it has submitted an sNDA, or supplemental new drug application, to expand the drug's approval to a wider patient population. In this video, Fool health-care analyst Max Macaluso explains what this application means, why wider approval could potentially be a boon for this biotech, and long-term risks that investors can't ignore.