Investment in AMRN has been dead money for most everybody except swing traders on small moves. I would imagine that the majority of iHub commenters have an un-booked loss on their AMRN stock holdings. I have a loss and I have been invested for over a decade.
Do I think the stock is a dog? It's tough so say that it is not when compared against the general moves of the overall market. AMRN is just treading water and able to keep its head above water for now. How long can it hold out and be able to make it to the promised land?
The company has overcome multiple hurdles while JT was at the helm. Did he personally make the positive decisions that caused us to leap those hurdles? I really don't know. Looking back on it, the secondary offering appears to be a fortuitous decision. I believe that occurred when the stock was trading in the upper teens. Do you think AMRN would be able to float an offering today to garner the same amount of cash? I doubt it.
Vascepa? Great drug. AMRN? Bad luck. Judge Du's patent decision, even if overturned, has set this company back by a minimum of 2 years and the patent clock is still ticking.
I am still holding stock because I believe in the drug. Unfortunately, you can lead a horse to water, but you can't make him drink. Sales have been lackluster. Maybe a good portion of it is attributable to Covid. Insurance coverage still seems to be problematic. Entry by generics is a crushing blow.
I will not be adding to my current position even at today's depressed pricing. If anything, with AMRN, I have learned not to invest in a company that only has one product. It's do or die, depending on the ability of that product to penetrate the marketplace. So far, AMRN with Vascepa has been deficient on that metric.
I hope our new CEO has fire in his belly to shake things up and uses his European expertise in cardio drugs to push Vazkepa to the masses.
As always with AMRN, it is wait, wait, wait, until the next big pivot point, whether it be clinical trials, AdCom, ICER, FDA vote, patent case, patent appeal, Rule-60, Teva ruling, Covid test results, ad infinitum. It certainly tries one's patience. Somehow I see a horse pulling a wagon with a carrot suspended in front of his nose...that's AMRN.
As commenters have recently posted..."Hope is not an investment strategy". How true. We need our new CEO to get the ball rolling in the right direction. I have nothing but respect for JT and wish him well in his retirement. I do think it was time for a change to bring fresh blood in because whatever plan is currently in place, obviously was not impressing Wall Street.
Sorry for my long-winded take. I have to pose one question though. If any of the BPs were actually interested in AMRN, do you think the CEOs are breathing a sigh of relief that they did not offer BO in the range of $30+ per share 2 years ago? I think they must be saying to themselves..."I dodged a bullet".
Going to bury my head in the sand until more prominent events take place.
Cheers!
Flubber
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