Due to both the FDA and AMRN management. AMRN had the chance to sell the company in 2012 but they got greedy and rolled the dice. Everyone in biotech with a brain knows that the FDA and regulatory risk is always a huge concern. AMRN assumed Anchor was a "slam dunk" and JZ got real cocky and the greed set in. He demanded not a penny under $30. And not a single BP was willing to pay it.
GIA was a terrible horrible decision that set AMRN way back. They took on a dreadful loan instead of diluting at $12 a share.
AMRN had absolutely NO contingency plan post ADCOM. They assumed it was a victory tour and took absolutely on steps to prepare for a negative outcome.
Management has continued to refuse to partner, which could raise much needed cash, expand sales, lower marketing expenses, and allow for further indications to be explored.
Blame the FDA all you want, but AMRN management has done nothing right since 2012. You can't ignore the impact the FDA has. And you also can't ignore the impact management has had. They have both gone hand in hand in destroying things.
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