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I agree. And the ironic rub is that the higher the share price goes, the less number of shares that are removed from the float. Regardless, there should be a floor in place now to remove the delisting threat. I believe patience will be key with getting a nice return. I'm holding amrn purchases from 2013 so I can wait another year or 2.
Wow, so amazing that they have discovered a way to reduce the risk of heart attack, stroke or heart-related death by 20% in what’s being called a landmark clinical trial in people with cardiovascular disease!!
Wegovy shown to reduce risk of heart attack, stroke in major cardiovascular trial
The fact that Denner/Sarissa has not increased his ownership is something that's a little concerning. If he thought the stock was "significantly undervalued" when he plopped down 100 million at $4/sh then why the heck isn't he backing the truck up at $1.15? Against my better judgement I have continued to add at these deflated prices to lower my cost basis because I do believe there is a plan to increase stock price. Denner is calling all the shots and his playbook is in motion.
5 of the 8 have the following posted in their bios:
" is well-qualified to serve as a member of the Board due to ............. and mergers and acquisitions expertise."
I think it's clear how this is going to play out.(And how it should have played out 4 years ago) The unknowns at this point are time to get there and price point. One current fact is that the SP is below $2. Double digits would be nice but I'd be happy with $8 - over 300% return from current SP.
Completely agree. I believe KM's fate was sealed the minute Sarissa won. It was made very clear in all the presentations and PR's that he is not a fan. Looking forward to that mistake getting corrected.
Denner has a small portfolio of companies that he invests in. I haven't checked recently but when he first disclosed his stake in AMRN that number was around 10. He seeks out undervalued companies with valuable assets but are mismanaged. That's his MO.(ugh, perhaps a taboo statement here, lol) I don't think that picture could be any clearer with Amarin. His plan is to get board representation and right the mismanagement wrongs as best he can to unlock shareholder value. That aligns with my wishes for this nightmare investment. Vote BLUE! #freeamarin
15K Blue for Sarissa. I hope he cans KM too. That guy has been nothing short of awful.
I submitted my proxy vote as well however I am able to update my selections at anytime until the deadline. You may be able to as well, just try clicking on the link again.
It doesn't sound like the new director choices were Denner's picks. I wonder if this is going to get hostile.
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Prior Authorization is a hassle and could lead to less scripts getting filled but I see it as an easy way to enforce the label and only allow generics the piece the pie they are entitled to. I also know it's not going to happen.
It feels like the writing is on the wall for this small biotech. What a waste.
65000 - When it rains, it pours.
Three bones $3
$1.40 - Just wow. I thought about adding but I just don't have the stomach for it anymore. Wish I never stumbled upon this company. Denner is our last hope.
Current BOD members
LARS G. EKMAN, M.D., PH.D.
JAN VAN HEEK
KARIM MIKHAIL
PATRICK J. O'SULLIVAN
PER WOLD-OLSEN
KRISTINE PETERSON
DAVID STACK
JOSEPH S. ZAKRZEWSKI
Proxy to re-elect
2021- Mr. Patrick O'Sullivan & Mr. David Stack
2020 - Dr. Lars G. Ekman & Mr. Joseph S. Zakrzewski
2019 - Mr. Jan van Heek & Ms. Kristine Peterson
2018 - Mr. John F. Thero & Mr. Patrick J. O’Sullivan
2017 - Dr. Lars Ekman & Mr. David Stack
2016 - Ms. Kristine Peterson & Mr. Joseph S. Zakrzewski
2015 - Jan van Heek & Patrick J. O’Sullivan
2014 - Dr. Lars G. Ekman & Dr. James I. Healy
2013 - Mr. Joseph S. Zakrzewski & Ms. Kristine Peterson
2012 - Dr. Lars Ekman & Dr. Carl Gordon
Looks like Peterson and Heek are in line for re-election unless someone else volunteers. Hopefully they have a seat ready for Dr. Denner.
Denner has stated publicly that when he initiates a position he believes it to be at least a 1-2 year investment. This gives time to get board seats and effect change. He also doesn't invest thinking it will end in a BO however that does occur often and is a way to get good return, but he focuses on how to 'fix' the company to unlock the full value. It is at that point that a company becomes attractive to a BP suitor. I don't think we can expect a BO 7 months after his 13D filing like MDCO. This one may take a little more time but the idea that Denner would be selling now is ridiculous IMHO.
I am also sick of yet another buying opportunity but that's exactly what this is so that's exactly why I added again($2.84). There hasn't been anything material released that would cause the stock price to drop. I hope that Denner has been taking advantage to increase his ownership at these low prices.
My BE is $6 so still very much underwater. Ideally would like to see a BO at $12+ but give me $8 tomorrow and you can have my shares. I'm ready for other stocks to cause my heartburn.
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I agree which is why I added to my position today.
In addition:
Dr. Denner holds 24 million shares at an avg cost of $4.45. The 13D states he believes the shares are significantly undervalued.
"I mean, we’re investing in a company because there’s some value there." - Dr. Denner
It used to be that science would always win out in the end. It appears AMRN may be the exception to that rule.....unfortunately.
I notice a lot of complaints that management isn't interested in a BP buyout due to collecting free shares however the free shares would all immediately vest in the event of change of control so wouldn't they instead welcome it?
This is from the latest Form 4 filed 4/14 for KM.
Remarks:
In the case of a Change of Control (as defined in the Issuer's stock incentive plan), the grants described in this Form 4 vest in full. As of the date of this Form 4, the Reporting Person owns or holds the right to acquire an aggregate of 3,201,699 Ordinary Shares of the Issuer in the form of Ordinary Shares, stock options and RSUs outstanding under the Issuer's stock incentive plans, including but not limited to certain performance-based RSUs that are earned only if certain pre-defined operational milestones are achieved and, in certain cases, then vest only if the recipient remains with the company for an extended period of time.
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good points. It is the best drug since statins in the CV space so still surprising that 1. more doctors don't know/prescribe and 2. hasn't been scooped up by BP.
It is good to hear that pharmacies are removing the generic. I'm not sure of the reasons behind this but I suspect either they are failing quality control or fear of patent infringement suits.
It's surprising that the uptake on this miracle drug is so sluggish given the scientific outcomes. I know the reasons have been hashed out ad nauseum. My insurance uses CVS Caremark and I am able to view prescription costs online.(I am not on V nor do I qualify) My high deductible plan shows that Icosapent Ethyl is not available. A 30 day supply of V costs $342.85 of which I would pay $283.34. I know there are coupons available that potentially reduce this amount(I heard $9) but I have a hard time believing that people would pay close to $300 a month. Is the hope that most patients would have better insurance that would absorb the majority of the cost?
HLS on March 17th:
"Regarding public market access for Vascepa, we are pleased to report that we are in the final stages of the process for the reimbursement of Vascepa. We can't comment on the outcome today but look forward to providing a more detailed communication and next steps when the outcome becomes public, likely within weeks."
We are now 3 weeks from when this statement was issued. I am expecting an announcement any day now.
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1% of outstanding shares - so approx 4 million.
When Sarissa/Dr. Denner increase or decrease beneficial ownership by 1% or more I believe he has 48 hours to file a 13D/A. After the number of shares traded yesterday I'd love to see one filed either today or tomorrow.
He has stated that the shares are significantly undervalued and the cost basis for his 24 million shares is 4.455. Current prices hovering around $3 give an additional 50% discount to these significantly undervalued shares.
It's my opinion that he will definitely want a board seat so he has a voice. I hope that he attempts to get multiple seats. The same old current crew is not getting it done. He has a plan on how to unlock value in this company from the inside. I expect Denner to release his intentions before the next annual meeting. At this time we will know if Amarin wants to embrace the good doctor or will resist him(by attempting to get board members re-elected) and then we may have a proxy fight on our hands.
Denner's involvement is keeping me in this investment and if he jumps ship I will follow. In the meantime I will be patient to see if he is able to work his magic as he has been able to do many times with previous companies.
Thank you for sharing. Very insightful analysis.
Same. My reason is it's too cheap not too.
Great find! I really enjoyed this podcast and I'm so happy to have Dr. Denner on our team! Thanks for sharing!
1% equates to roughly 4 million shares. If he adds 200k shares a day it would take 20 trading days so there is the possibility that he has been adding perhaps just not as quickly as we would like. I have been also accumulating (sucker for punishment) at these depressed levels so I can potentially enjoy the same rewards/returns as Denner in the event of an eventual sale.(hopefully Denner's end game) I will give him at least a year to see what his vision is and to see if he is able to exact any beneficial change.
See below.
Amendment Requirements for 13D Filers
Rule 13d-2 of the Securities Exchange Act of 1934 (the "Act") requires you to promptly, within two business days, amend Schedule 13D whenever material changes in the information disclosed on a Schedule 13D occur. A material change includes any material increase or decrease in the percentage of the class of securities you are deemed to "beneficially own." For instance, if you manage more than 5% in the shares of an issuer and the percentage managed increases or decrease by more than 1% (whether through a transaction or other event), you must amend your 13D filing.
You must continue to make appropriate amendments so long as you continue to manage more than 5% of any class of an issuer's voting shares. If you fall below the 5% threshold, you must make one (final) amendment notifying the SEC of this.
We know he hasn't added more than 1% yet as that would trigger an amendment 13D/A. I do think it will occur at some point though.
A 300% return from where the stock currently sits doesn't sound too bad anymore. He would have my vote. Great product laid to waste by bad management. Put us out of our misery.
Do you know what the timeline is for that to happen? Aren't they currently in month 23 or 24 of 24 month negotiation timeline?
73825
BVF getting very close to that 5% ownership mark. Wonder if they will file a 13D....