Why Matinas BioPharma Tumbled 13.4% Today

Matinas BioPharma's (NYSEMKT: MTNB) shares slipped 13.4% on Monday. This came after Amarin Corp. (NASDAQ: AMRN) secured approval from the Food and Drug Administration to include a cardiovascular outcomes benefit on the prescription label for Amarin's purified omega-3 drug, Vascepa.

Amarin's Vascepa has been FDA-approved since 2012 for use in patients with extraordinarily high levels of triglycerides (fat in the bloodstream). However, its use has been limited by the absence of data proving that lowering triglycerides reduces the risk of major cardiovascular events, including heart attack and stroke.

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Source Fool.com