Amarin Shares Surge 34% On European Licensing Deal With Recordati

(RTTNews) - Amarin Corporation plc (AMRN) is trading at $16.84, up 33.72 percent, or $4.24 on Tuesday, after announcing a major licensing and supply agreement with Recordati to commercialize Vazkepa across 59 countries, primarily in Europe.

The stock opened at $13.80 and has traded between $13.80 and $17.11 so far today on the Nasdaq. Current volume stands at 914,657, well above the average of 97,474. Amarin's 52-week trading range is $7.00 to $17.11.

Recordati will pay Amarin $25 million upfront, with potential commercial milestones of up to $150 million tied to future sales thresholds, alongside royalties for product supply.