That is what happens when you put all eggs into one basket. They want "the pie" 100% for themselves, and have refused to partner up, which could provide much needed cash and they could be running trials in other indications such as dry eye. Instead they went 100% in on this one single drug trial, instead of diversifying trials and firing multiple darts.
That is what greed does. AMRN is a great case study in how to NOT run a drug company and how management greed and bullheadedness can destroy a potentially good situation. $15-$20 wasn't good enough back in 2012. Are there any long investors besides JL and HD who wouldn't wish they had gotten $15-$20 4 years ago? It is highly unlikely AMRN will ever see $15 again. Even with 15% RRR it sure isn't gonna approach a $5b valuation. The "out of the ballpark" results are already out of the question since it wasn't stopped at interim.
Management screwed this up, and they cost all you bag holders and long time holders A LOT of money and opportunity cost by not selling out in 2012 or partnering. They still refused to get serious about marketing. In BP hands this is doing $100m a quarter right now, maybe more. Instead we get $30m and dilution after dilution. And dilution is far from over. Even now they refuse to partner because they don't want to "give up" all the future riches they think they are going to have. But continuing to dilute is much worse than if they would have partnered a long time ago, where in that case at elast sales would be way way higher than they are now. And it could have staved off some of the continual dilution. Dumb dumb people at the helm here.
