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rafus: The fact that you don't receive a response to
your post is that your knowledge of the Biotechnology
Industry is appalling. You came on this Board Jan 2014,
and those of us who've been hear for 4 years and have
contributed because we do have knowledge of the Markets
and the Sector, know the AMRN story cold. Thanks to many
posters who actually put the effort in and contribute to
the collective knowledge of this awful story. Sure the FDA
has been has been a vindictive road block, but MGMT, poisoned
the well, and significantly undermined the Co because of their
greed and lack of expertise in the Industry, let alone running
a promising company. Vascepa IMO, is a great drug that will
help mankind, and be a difference maker in Cardiology. That,
is a fact. DNDN knew in front what the FDA wanted, and twice
ran PH III registrational trials, using PSA as the Primary Endpoint despite FDA telling them that they needed to show
Overall Survival for an approval. Your lack of savvy is obvious
to most on this Board. In your last post you referenced the DNC
raf: Pull up my posts fool. I've been posting
that for 2 years. You Dumb Fuck.
raf: Putting up with your lies is like reading your
inane posts. You're 100% wrong. I have maintained
that AMRN has never received an offer and posted
this many times. It was confirmed to me by JT himself
during a personal conversation. Why don't you ram an
umbrella up your butt, open it and quickly pull it out.
You have no clue as to what is really happening. I
don't know the other poster you named.
biodreck: No one's Perfect, but you are a
Perfect AHole. Your lack of intellect is
in keeping with your lack of any contribution
on this Board. Get lost ! You are pathetic.
raf: They are one in the same. CEO, CFO,COO,CMO,
and the BOD. No one ever alluded to regular
employees./ It's the parlance of the Industry
and Wall Street. Not surprised you aren't more
fluent in the terminology.
raf: I'm talking about Senior MGMT and it's done
quite frequently. Are you a fool ? MGMT has
been pilfering money they clearly don't deserve.
No one does it to other employees for obvious
reasons.
BioBill: No, I'm just talking about Senior MGMT, as
they are the bulk of salaries and bonuses. They've
been feeding at shareholders expense too long. We
need Cash Preservation. Event trials can be quirky,
and we have huge debt obligations and have to survive
until Re-IT is completed. Many do it in the best interest
of Shareholders. For this team, that would be a first.
me33: The precarious situation we are in would dictate to a
concerned MGMT Team that they should suspend salaries to
save whatever precious cash is on hand. This has been done
on multiple occasions in our sector.
HD: I APPLAUD WHAT YOU'RE POSTING AND THE BREATH OF FRESH AIR
YOU BRING TO THIS BOARD. WE HAVE AN HONEST DIFFERENCE OF INTRPETATION, OR POV ON SOME ISSUES. JUST KEEP DOING WHAT YOU'RE
DOING. YOU'RE DOING A BANG UP JOB.
HD: The DSMB can stop a trial but only FDA can approve
the drug. I haven't spoken to Thero in about 10-11
months, and then on only 2 occasions. I seriously doubt
he would take my call now. My friend, I am not going back
through your posts; however , there were several occasions
that you referred to a $20 offer. You are a really bright
guy and a significant poster on this site. That said, let's
both try to be more assiduous in the specifics we post. I
have great respect for you, but there is really no need to
espouse your superior intellect. I actually am one of your
followers, and therefore try to ascertain the accuracy of
your prescient pearls of wisdom.
ladavis23: HD is wrong on more than just one point.
I have spoken to Thero, and he has maintained in two
conversations that AMRN has never had a term sheet
submitted to the BOD. Upon further questioning he
denies that AMRN has never had an offer going back
JZ's reign. The simple solution for a bright guy
like HD is to simply call Thero and ask him
straight out. Not exactly rocket science!
ladavis23: Unfortunately I agree with your post
with one exception. I believe a MGMT change is
no longer possible. How does AMRN, a publically
traded Co , attract a credible MGMT Team when
the stock is in a classic "Death Spiral", a full
fledged war with FDA, and running out of cash,
all in real time ??? We don't give the current
team enough credit for being smart enough to
stay the course and get their pay checks for as
long as possible
HD: You miss all my points. I have a sense that if
I entered a revolving door in front of you, somehow
you would exit first. Who do you think the DSMB is
appointed by ?
zip: Sorry but your definition needs updating. Any stock
that goes from $19 to $1.16 IS IN A DEATH SPIRAL.
lad&HD: What a conundrum. You both present cogent
positions, and present your opinions in a well written,
erudite fashion. Some of my takes are as follows: I have
been a big proponent of a MGMT change for the last 3 years
and have been quite opinionated about my feelings. Guy's
I've come to the conclusion that a MGMT change is no longer a
viable option. As lad has espoused and HD has argued against,
the PPS is a killer. What credible CEO and equally credible
team would want to come on board and help rearrange the deck
chairs of this Titanic mismanaged Co.? The stock is in a
classic "Death Spiral" and the bottom line is that I can't
recall a Biotech that has ever survived a Death Spiral in my
22 years in the business. That said, I'd like to propose a
scenario that may make me eat those words. My assumption is
that JL knows Lipidology , though has no clue about stocks
or marketing. Let's assume that when an interim look is taken
at 60% events, their is an overwhelming trend toward efficacy,
with more dramatic results than all of us V fans thought possible.
Let's also assume that since Red-it is not fully enrolled, and
powered at 90%, achieving a statistically significant end point
is damm near impossible. I further assume that FDA (Who never gives away Ice in the wintertime), doesn't allow DSMB ( correct term) Data Safety Monitoring Board to stop the trial. I believe that the assurance of a very positive Red-it outcomes trial lifts the stock to $3/sh. Recall that AMRN has already filed a Shelf Registration. Some smart Bankers could literally do an overnight raise and lift the cash overhang. The stock strengthens, and all of a sudden I experience my first ever recovery from a Death Spiral. Let's munch on something both possible and doable.
Zum: You're right as always, tough Sam Waksal
did 7 years at an out of town Federal college.
Btw, Sam and Imclone got in trouble for believing
their Electronic NDA filing was a slam dunk. The
FDA was pissed at him too for similar bad behavior,
and caused chaos by turning down Erbitux, for bogus
reasons pertaining to the Electronic Filing. It turned
out to be and still is a very important drug for
Colorectal Carcinoma. Like I said,the FDA never forgets.
Sam sold his stock in a prearranged deal to help him pay
his huge attorneys fees during his trial on Insider trading.
.. Not exactly apples to apples.
bidmark: You are a perfect A..hole, and nobody's
perfect.
funnygi2: With all due respect, he sold $5+M
of stock .It was unprecedented in Industry
history, Unfortunately you just don't understand
the rules that apply to Industry, that if breeched
do more than piss off FDA. They are not my rules,
but never the less , all Industry knows and follows
them. Pumping your stock by stating delusional bogus
offers, and never having one, certainly qualifies as
Pumping ones stock. Similar rules about marketing
your product for an unapproved indication. The FDA
has never been warm and or fuzzy. They are adversarial
by nature.
Invest: I see your point, but your talking about
apples and oranges. There actually is insider
trading by Congressmen and Senators, and it's
legal. Whatever their net worth is has zero to do
with the plight of AMRN.
ladavis23: Amen !
raf: The BOD is just as guilty as MGMT, if not
more so. Their job is to oversee what MGMT does,
and be advocates for Share holders. They didn't
and to put an exclamation point to that, they
also sold into the FDA approval of the Marine
Indication. They also still have JZ on the BOD.
Something that has infuriated FDA.
End of story.
rafun: Thank you for your response. The FDA is the
culprit to most retail investors. I'm not a conspiracy
theory person, but if one assumes that nothing happens
for nothing, you have to go back to the serious miscalculations
of MGMT. They committed acts that FDA has been strongly opposed
to for many years. ie: Pump and Dump, which the CEO (JZ) did
and handsomely profited by so doing. Selling $M's of stock
the day of Vascepa's approval in the Marine indication. This
is unprecedented in the Biotechnology Industry. This enraged
FDA and they wouldn't allow JZ to attend ADCOM. That speaks
volumes as to why FDA has been AMRN'S nemesis. They have a
long history of doing this with other Co's who acted in an
inappropriate and non Professional way. I hope you get it.
You and all the shareholders who have been seriously harmed
by MGMT, should exorcise your rights and put your efforts into
voting these Bums out.
rafun: Probably to educate a poorly informed
poster who is new to the site and doesn't know
the real story, or even has the ability to evaluate
the execution skills of MGMT. You ought to take it
more seriously so that just maybe you will recognize
a death spiral when you see it. The key responsibility
of any MGMT team is to execute, make good decisions and
most importantly Build Shareholder Value. What has this
MGMT done for shareholders in the last 3 years , other
than lose them money, JMO !
zum: I think you hit it on the head. AMRN has to
boldly start marketing Anchor and then have FDA
thwart the marketing prior to going the Federal
litigation route. I personally would be in favor
of mending fences with FDA, Wall Street, and
Industry. Sometimes making nice helps. Btw, nothing
material is going to occur before Red-it anyway.
Mending fences is the approach that makes the most
sense to me. Throwing out precious money on litigation
was never something I felt was prudent. If the litigation
route is taken , IMO, it may put Red-it in harms way.
FDA is like Horton the Elephant, they never forget.
Taking a position to assuage JZ's bad decisions is a good
place to start. It would be refreshing to see this MGMT
Team make a correct decision.
biodreck: BioBill at times may appear over the top,
but he has been a valuable contributor for at least
3+ years. I've not seen you post anything but stupid
fucking questions that are none of your fu.....g
business. Why don't you tell us WTF you are and what
your agenda is ?
biodreck: None of your amateurish business.
biodreck: I didn't have any idea prior to ADCOM
which was in October. I found out about the MLK
weekend from multiple sources. Prior to ADCOM ,
I like every one else thought Anchor was a slam dunk.
In the sake of transparency I had already explained
why I sold my large AMRN position prior to ADCOM.
Kiwi: You are absolutely correct. Check the referenced
1997 Hatch/Waxman reform legislation. Btw, the reason
for this Bill as I understand it was to level the playing
field for the then immature Biotech Industry re: Pharma.
mrmain: Is the Pope Catholic. Of course it happened,
as the meeting choreographed by Waxman's assistance
was publically announced and many on this site followed
the three day fiasco preceding the MLK weekend. What is
Thero going to say, "I fucked up", of course not. The
litigation it would precipitate would be totally destructive.
The CMO Ketchum, according to my sources, tried to get Thero
to accept the FDA's request to revise the original SPA, only
to be turned down. IMO, I believe Thero didn't realize on that
fateful Friday that the FDA usually limits the negotiations
to three days. ( With all Sponsors) He clearly erred by not
being fluent in FDA speak. I am puzzled to this day why AMRN's
Legal Team didn't give him that information. I have no clues as
to the future, as quite frankly I haven't been following AMRN
very closely since that Tuesday. (following MLK weekend)
rafun: You are totally wrong. Your ignorance of what
I stated is the only tool left to long shareholders
to try to breathe fresh life into AMRN .It would be
a giant step forward toward mending faces with FDA,
Wall Street, Institutional Investors as well as BP.
What's wrong with that Pal ? It sure beats the death
spiral from 19 down. What I said about the MLK meeting
is also known by other Portfolio Managers like myself.
We do respect the confidentiality of our sources. It's
only a secret to retail investors like you. I'm
really trying to help snatch victory out of the jaws
of defeat for the longs. I am still convinced Vascepa
is an important Cardiology drug which should be available
to patients that need it. I had a very large position in
my fund ,which because of my charter stating we "don't
participate in binary events" did I cash out just prior
to ADCOM. at a significantly higher price. You have no
chance to succeed with your do nothing strategy.
zman: You are correct about only being able
to speculate. I would assume that whatever
the reasons, they will be the very same that will
used in court. They will most likely hide behind
the ACC/AHA guidelines which only include LDL
as an accepted metric. Trigs are not mentioned
once in the complete guideline review. Therefore
Vascepa is not considered a Non Lipid Lowering
agent acceptable for approval until Red-it results
are in. Not very complicated.
sts66: Kowa is doing a lousy job. The West LA Rep
who details many Cardiologist friends of mine for
Livalo, told me they never heard one word about
Vascepa.
Continued" GIA to market Vascepa. JZ was persona non grata at
FDA ADCOM. Following all these strategic blunders that FDA hates to see, as it seriously affects shareholders. JZ who was FIRED
is still on the BOD. One poster still feels MGMT is still executing well ( Hard to believe) I don't even want to go into
the MLK weekend fiasco where a CPA, who also is CEO fu...d up
the negotiations of the rescinded SPA, after considerable effort
to have it put back on the table. MGMT should be fired. The
problem is that only the BOD can do that and they are complicit.
Soooo.. You are 100% correct on wanting to get rid of MGMT.
The last resort would be a shareholder revolt. Long overdo.
ladavis23: Just stopped by for a minute and want
to underscore your awareness and desire to remove
management. They are without discussion the worst
MGMT IN THE ENTIRE SECTOR. . The way one objectively
looks at management is on how they execute. The FDA
has been a huge negative for AMRN. The Co poisoned
the well with FDA after Their CEO JZ pumped the stock
by giving the Street reason to believe that a BO was
imminent. He drove the stock up to $19 and then sold
$M of his own stock as did a few members of the BOD.
The next stroke of genius was JZ selling $M's of his
stock into the day Vascepa was approved by FDA. Btw,
so did the two largest shareholders of AMRN stock who
were also on the BOD. Their next act was to decide on
zum: With a big caveat. "Overdone" only if
you're the Investment Bankers; Brutal if
you're a shareholder.
ladavis23: You are absolutely correct. No
company that I can recall that pisses off
FDA, ever survives. That said, AMRN MGMT
never gave shareholders a sliver of a chance.
JT, reminds me of the story of the Mouse
that was screwing an Elephant. A coconut
fell off a tree and hit the Elephant on the
head making her lurch. The Mouse looked from
behind and asked the Elephant, "Did I hurt
you darling" ? That sums up Thero's future
litigation with FDA. If FDA thought they
could lose, they never would have taken the
action they did today. Thero can't touch them
ladavis: You are absolutely correct. Though FDA
had an agenda, made errors, and backed up the
ACA/AHA guideline, a competent MGMT Team would
never have dug such a huge hole for themselves,
and as crazy as it sounds, kept digging. JZ
poisoned the well with FDA by his Pump and Dump
play "more offers than employees", drove the
stock to $19 and sold millions of shares. Because
of this FDA made him persona non grata at ADCOM.
GIA, an accountant, JT taking over as CEO ad -
nauseum ! I've been posting for several years
that CEO'S get paid for executing. Btw, JZ is
still a Director etc, etc. Had a real management
team been in place, so much of this could have been
avoided. I am heartbroken for the loyal longs, who
posted daily and continued to be upbeat. You guys
are the best. As I posted both before and after
MLK weekend, unless the shareholders revolt and
kick out MGMT, there will be no light at the end
of the tunnel.
1bill: Just watch, they're the sleeper in
the NFC. Their only problem could be at
safety.
mrmainstreet: That's the first thing you've posted that
I can unequivocally agree to.
BioBill: Being from Wisconsin doesn't make you
prejudice, does it ? My take is that the Bears
will win the North Division. Their offensive
weapons are awesome. No disrespect to your QB,
but he's not surrounded by so many weapons.
On the other side of the ball you lost your
run stuffer and Peppers is on his last legs.