SVB Leerink analyst Eason Lee last night raised his price target for Amarin to $29 from $26 saying he's "incrementally more positive" on the shares following Thursday's FDA panel discussion and the 16-0 vote in favor of approval for a cardiovascular risk reduction indication. While a vote in favor of approval was likely expected, the panel came across open minded about an indication for use in primary prevention, Lee wrote in a note to investors. The analyst believes Amarin "will be in for a robust discussion" with the FDA on just how the indication could read. He raised his probability of success on Vascepa's expanded label opportunity to 85% from 75% and kept an Outperform rating on the shares. The stock in afternoon trading is up 11.5%, or $2.48, to $23.97.

Amarin Corporation announced shareholder approval of all proposed resolutions specified at its 2024 Annual General Meeting. Importantly, shareholders approved each of the two proposals required for the Company to proceed with its previously announced intent to pursue a share repurchase program of up to $50 million. This permits the Company to request U.K. High Court approval, as required under U.K. company law, and if approved by the U.K. High Court, commence the share repurchase program by the end of the second quarter of 2024. As part of the Annual General Meeting, shareholders also approved the following resolutions: Re-elected Mr. Patrick Holt, Mr. Louis Sterling III and Ms. Patrice Bonfiglio as directors of the Company; Approved the compensation of the Company's "named executive officers" as described in full in the "Executive Compensation Discussion and Analysis" section of the Company's definitive proxy statement; Approved the appointment of Ernst & Young LLP as auditors of the Company until the conclusion of the next general meeting; Approved the proposed amendment to the Company's 2020 Stock Incentive Plan; Authorized and approved the amended and restated articles of association to require all directors to retire and seek re-election at each annual general meeting of the Company.