Amarin Corp Plc (AMRN)

[Mogwai]

Um...no.

I was talking about buyout offers NOW. Not after REDUCE-IT. The discussion revolved around why there haven't been offers before REDUCE-IT.

Many if you are ignoring the risk of REDUCE-IT failure. As of now we don't know how REDUCE-IT will end up. It could be a total failure, in which case the company will go BK. So in order to hedge this major risk, you take a slightly lower price than you would upon a successful trial. That is called RISK MANAGEMENT.

Also, there are other mechanisms that can be used, such as CVRs. In that case, we could lock in major gains now, and still there would be more big gains if REDUCE-IT is successful. This is the best option, IMO. It hedges out REDUCE-IT risks, locks in gains, and still provides REDUCE-IT upside.

Instead, 100% of the company relies on REDUCE-IT. Huge risk involved, which is a factor in current $1.55 a share price.

Also, you are ignoring the change in number of shares since 2012. Millions and millions of shares have been added at really low prices via dilutions, so $10 a share now is similar to $15-$20 a share in 2012 in valuation.