Shares of biotech company Amarin (AMRN -0.88%), already down more than 70% in the last month, fell another 13% after it announced that the FDA has rescinded its SPA (Special Protocol Assessment) for Vascepa.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 (GSK 0.89%) and AbbVie (ABBV 0.02%), 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.
