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Amarin Names Chairman Joseph S. Zakrzewski As CEO

From Associated Press (November 10, 2010)

Amarin Corp. said Wednesday that CEO Colin Stewart has resigned to address personal matters, and the biotechnology company has named Chairman Joseph S. Zakrzewski to replace him.

Stewart was named president and CEO in August. Chief Financial Officer John F. Thero will replace him as president.

Zakrzewski was named chairman in January. He has served as chief operating officer for Reliant Pharmaceuticals and CEO of Xcellerex Inc., a private, Massachusetts-based biotechnology company.

Amarin is a clinical-stage company focusing on heart disease treatments. Its lead product, AMR101, is undergoing late-stage testing as a potential treatment for elevated triglyceride levels. Results from one of the two trials are expected before the end of the year.

The company spent about $5.5 million for the clinical trials in the third quarter, and its cash balance was $31.4 million at the end of the quarter. Amarin said its financial resources remain sufficient to finish both trials and submit a new drug application for AMR101.


Posted: November 2010