Replies to post #434082 on Amarin Corp Plc (AMRN)

[Tatsumaki]

Sarissa could pick up additional shares as well.

Not without breaking 10% ownership and a whole new set of rules and restrictions on what Denner can do. The fact he hasn't backstopped this slide AT ALL tells me it's far more important to him to be able to trade this in the dark between 13F's and not be subject to immediate Form 4's for every single move he makes.

[seve333]

Somebody is actually calling out denner the great?

[Birdbrain Ideas]

I think the CVS dropout last July, which Amarin probably learned about while they were trying to get approval for the share buyback, spoiled the plans for a buyback. The company probably has to worry that one of the other pillars of its exclusive sales deals in the U.S. could vanish just as quickly as CVS did. If so, the "nearly $300 million" in its cash pile could start shrinking at a rapid rate. So I think the company acted sensibly in keeping its cash and doing the reverse stock split, as much as I hate that my 50,000 shares will now be about 1,500. The 1-for-20 split also seems consistent with what other companies do. If the goal is to keep the share price above $5, a 1-for-10 split would be cutting it too close.