Big Pharma

Amarin Plunges After Announcing Financing and Plans to Hire Sales Staff

Shares of biotech firm Amarin (AMRN, quote) were crushed in after hours trading on Thursday after the company announced plans to raise $100 million in debt financing and to hire 250-300 sales reps to market its fish-oil drug Vascepa. The stock finished the after hours session down more than 18 percent at $9.75. Shares traded as low as $8.76 in the immediate aftermath of the announcement.