Amarin Corp Plc (AMRN)

[Lrich]

JT is a good finance guy. We don't need that now.

He was put on as CEO in 2014 due to that. JT is a good finance guy, whether or not I agree with him on literally anything else, I will give him credit for having Amarin come out the other end of Reduce-It in a great financial position: minimal debt, big good loss carryforward, minimal partnerships/joint ventures that would restrict their income.

The problem is, his leadership and public speaking skills are, generously speaking, terrible. His insistence on a serial progression (FDA first, only then EMA, but because of the appeal, delay the EMA) has severely hampered the company. Even ignoring the entirety of the appeal loss, we should have had the EMA submission sent in and progressing to have targeted a mid 2020 approval.

The reason a mid 2020 approval would have been smarter (ideal even) is that (pre covid, note that all of this submission would have also been pre covid) H2 was when we'd have DTC ads with branding. When we expected sales to really take off. So an EMA approval in Q3-2020 would have coincided perfectly with the USA sales jump, allowing for the European marketing to be bankrolled by the ever increasing USA sales.