I've read the conference call transcript several times now and I encourage you to do so as well from the vantage point of JT's conservatism.
JT drops several gems. He said, "[w]hen we come together next quarter, we believe we will have received FDA approval of our expanded indication for Vascepa, and we look forward to sharing even more about the progress we're making to introduce a new era in cardiovascular health." Given JT's conservative nature, you do not make this comment unless you are certain FDA approval is imminent.
This brings me to my second point, I believe FDA approval is going to come sooner than people/Wall Street realize. And this is why they had to raise cash when they did. JT is no dummy. He surely could have waited until closer to the PDUFA date or even after but you don't do so if you have a good indication that approval is coming faster.
There will be no ADCOM and the FDA is not sitting on their hands here. They have had ample time to review this. In fact, I would not be surprised if label discussions have already commenced.
Again reread the transcript there are several gems in it.
As to what to make of the current share price? It is a tremendous buying opportunity for those who still have access to cash.
As for GIA vs buy-out? Let's put it this way: the opportunity for Big Pharma to steal this company has long passed. Those days are gone. We are looking at a de-risked opportunity and if BP wants Amarin they will have to come big. It's not a question I lose a lot of time on because I believe JT & Baker Brothers will not let the company be stolen. GIA and buy-out value will converge as time passes.
Don't let the current share price scare you. Hold on to you shares and reread the conference call transcript.
Just my two cents
