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OT ILT: caveat emptor, Kodak claimed to be a blockchain/cryto company 2 yrs ago when cryto currencies were all the vogue. Research their history, lol
The small investors will get bagged up while management backdoors them with their private sales.
Montana, what's ROW, GIA=go it alone.
Postes, yes it's all so crazy. Just the wording of JT's email is scattered incoherent and ambiguous. I honestly fear that if JT doesn't step aside vascepa with become just another generic, the docs will prescribe freely off label. Short story my cardio doc eye's lite up when I mentioned that Amarin lost patents. His first words were is it now a generic, then I stated that the company is appealing, his smile disappeared. My pharmacist said by law they must fill scripts with generic if available or script specifies brand name.
It's all so depressing. It would be a long term epic shareholder derivative class action, in the end no one wins. I'm assuming the worst case and Amarin loses appeal. Forget EU rights, JT will try to GIA thinking he'll retain any value that remains for a fire sale.
He must go away!
Kiwi..lol some levity is always good in grim times.
Raf, Yes agree AF is as bad if not worse than MRC. He's got an ax to grind with AMRN. Don't know why....
No doubt JT was confident at last Annual meeting that they have bulletproof patents. What he wasn't counting on is the fact that Amarin vs Hikma litigation would be assigned to a flaming liberal bias District Court judge.
Marjac...how can the shareholders assist in removing JT before EU decision?
For what it's worth, I happen to agree with your analysis of JT's idea GIA in the largest EU countries. But it hinges on winning the appeal. I dread the thought of another shelf registration to finance the ridiculous decision to GIA in the EU. I pray JT realizes he's out of his league and steps aside so a new qualified CEO can fill that position. It's OK for him to remain as Chairman of the board, where's the BOD in this company. They get rewarded with free options then contribute absolutely nothing to the company.
Not cynical, it's the truth! Casino lobbyists just like BP have offices next to their favorite supporters.
Perhaps Du won't recuse herself because of her ego/arrogance. Heaven forbid she shows humility, sociopaths think they are above the law. Surprisingly the SC ruled against NV churches opening fully, yet the casinos are open to the public, gaming permitted but not worship to the lord. Total disregard of the first amendment.
Zip, the Boehringer divestiture that took place june 23 was in the agreement when they sold Roxane to Hikma back 2016ish. But as BB pointed out in one of his post, Boehringer was a 10% holder while the trial was taking place and are mentioned in court docs, but in the most recent patent issue filed with the court in NV early July they no longer had ownership.
So the question here does Boehringer still have any liability if Hikma launches at risk?
Thanks Raf, good insight.
FFS...Thanks
Bill, thanks for posting this story. It begs the question, why are the Chinese so reluctant to disclose the facts rather than hiding under the guise of releasing a definitive conclusion is a conflict of interest??
just caught tail end of interview.
Good grief why isn't amrn talking about up vacsepa????
FFS, please clarify your chart read. The fist & second para providing dates and anticipated price action don't correlate with current price action.
Thanks for your reply and appreciate your analysis.
NASH trial update, less competition but Gilead is still in the running, several companies drop out. Does anyone have an update pertaining to the vascepa/Gilead study?
For biotech companies, the NASH boom is threatening to turn into a NASH bust.
Drug companies have been rushing to develop treatments for nonalcoholic steatohepatitis, better known as NASH, a little-known, newly defined disease that affects millions of people in Western countries. But a series of setbacks has dealt a blow to the field, including an announcement in late June by Intercept Pharmaceuticals(ICPT) that the Food and Drug Administration had said that the benefit of its proposed NASH treatment didn't outweigh the potential risks.
Now, the French biotech Genfit(GNFT) , which had been expected to bring one of the first NASH drugs to the market, said it is getting out of the race altogether. In a statement Wednesday evening, Genfit(GNFT) said it was ending a Phase 3 clinical trial of its drug elafibranor in NASH patients. In May, the company had said that an interim analysis had found that the study had failed to meet its primary endpoint.
Genfit (GNFT) went beyond ending the Phase 3 trial of elafibranor in NASH patients. The company said it would now embrace a new corporate strategy, details of which will be announced in September, that will focus on developing elafibranor in another disease, called primary biliary cholangitis, or PBC, and on its NASH diagnostic test.
"We believe the early termination of RESOLVE-IT is the appropriate decision from an ethical and clinical perspective, and this decision will contribute to accelerating cost savings and to focusing our efforts on our two top priorities," CEO Pascal Prigent said in a statement.
Shares of Genfit(GNFT) rose 3.9% Thursday morning to $5.63 as the S&P 500 slipped 0.1%. The stock fell 74.5% between May 1 and the close of trading on Wednesday, following news of the failure of the Phase 3 trial. Genfit(GNFT) shares are down 69.7% this year, compared with a 5.8% drop for the Dow Jones Industrial Average.
Analysts praised the news of the termination of the Phase 3 trial, and the new focus for the company. Stifel analyst Derek Archila upgraded the stock to Buy from Hold on the news.
"In light of the negative interim results for elafibranor in NASH patients with fibrosis, we think it is prudent for GNFT to be terminating [the NASH trial] to refocus on PBC, an opportunity underappreciated by the Street," Archila wrote.
Barron's urged skepticism of the NASH race in a magazine feature in December. Since then, key players have stumbled. Intercept shares (ICPT) are down 63.1% this year.
Other companies, though, have reported some promising results. The small biotech Akero Therapeutics(AKRO) announced positive data from a Phase 2 study of its drug efruxifermin in NASH patients in late June. The stock is up 57.6% this year.
Other drugmakers developing NASH drugs include Alnylam (ALNY) and Gilead Sciences(GILD) .
Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com
Triple88, thanks for the link re oxidation issue with fish oil. Just imagine if Hikma attempts to market GV, they can easily screw up the oxidation issue or include strange particles in ingredients. Please see FDA link below it's regarding the recall of Hikma's Toradol. The recall started a couple of years ago and continues as of June 2020.
https://www.fda.gov/safety/recalls-market-withdrawals
Personally speaking, I have the utmost respect for Mark Levin.
when did the 2million sh trade occur?
Interesting article, re omega 3 markets I don't recall if anyone posted same.
https://www.pharmamanufacturing.com/articles/2020/beyond-the-surface/
Below is Elisabeth's reply to my email. Please see last sentence...
Hi - I really appreciate you checking to ensure this was a real email.
Yes, John did write this email.
I think a lot of people have wrong assumptions about what kind of settlement offers we may have received.
Elisabeth
Elisabeth Schwartz, Sr. Director of Investor Relations, Amarin Corporation plc
440 Route 22, Bridgewater, NJ 08807
Direct Number 908.326.2569
Email: elisabeth.schwartz@amarincorp.com
JL, thank you. I admire your detailed knowledge of history and words of wisdom.
Postes, I'm with you on this subject, business is business. We need an experienced CEO with a background in running with the big guys.
BRAVO!
Raf, I did contact IR, I'll post her reply. Elisabeth should have proofed JT's email prior to hitting the send button. Just sayin
BB, it wasn't your post. It came from a post out of nowhere. so question is...who is the poster????
JT's first sentence is a double negative, read each word. The sentence doesn't make any sense!
Your first judgment assumes that a settlement was available on terms that you would not have been similarly disappointing.
Are you positive this email was written with the consent of JT???
Just saying...
Mantoloking as well, recently downsized to Bay Point Harbour across from BHYC! Small world.
246 Industrial Way, Eatontown, off of hwy#35. I called customer service to ask about GV and when it'll be available, as expected the rep had no idea what I was talking about. Then a light bulb went off in his head and said that he was excited about the new drug, so excited he is going to take when it's available. I'll call back in a month for an update. I'll alert Amarin directly if I find additional launch info.
sts66
where was this statement posted, it's ridiculous.
still can't believe JT admitted "investors" dictated what was acceptable settlement terms with Hikma.
Raf, Thanks for posting, we should see a steady increase as the country reopens. Fingers crossed
Did you notice in the docs on bottom of pages it's Purdue vs Boehringer, maybe Boehringer knows there's something amiss and that's why in June they divested their investment in Hikma??
Trust me, Hikma is holding Amarin hostage. Slime. FYI, the Hikma office in Eatontown, NJ is a hole in the wall. It's a fact as my cardiologist is right down the street from Hikma's office.
http://www.pharmatimes.com/news/boehringer_to_sell_stake_in_hikma_1342700
What's their motivation for pulling the plug on the entire investment in Hikma.
I'm sure there's a good reason for this move. Plus Hikma had to issue debt to buy remaining shares from Boehringer.
an old article from 2018
https://www.bbc.com/news/topics/c340rzp8p08t/hikma-pharmaceuticals
Marjac, you are correct the latest filings are meaningless.
I called Elisabeth to ask about the post on Ihub mentioning the lawsuit. Then I emailed since no one answered the phone went into voice mail. I emailed her asking if a real person is in the office and asked about a lawsuit but no reply yet. Does anyone live near the Bridgewater location? It would be great if someone from this board stopped in their office to see what's going on.
I've noticed that the recent emails from Elisabeth have a statement on the bottom stating that emails were not sent from a secure VPN. I assume it's because of the virus and people working remotely.