Did you people not see the proxy file from last night in which they want approval to borrow MORE money?
This is a nightmare situation for longs. Huge cash burns, out of money by year's end, huge Reduce-It expenses, tremendous debt, etc.
This company REALLY needs to be sold. Like.....5 months ago. SELL THE FREAKING COMPANY ALREADY. NO ONE WILL COMPLAIN WITH $15 A SHARE. instead management is going to bleed away all our money and value. Bullheadedness is KILLING shareholders.
Amarin (Nasdaq: AMRN) shares are marching lower once again Tuesday, following a regulatory filing made Monday afternoon.
The biopharma filed a Preliminary Proxy for its Annual General Meeting. Below are two sections of business Amarin plans to conduct at the event. Notably, Amarin will be seeking shareholder approval to increase its borrowing capacity, no doubt connected to its Vascepa launch.
so how is Andy, Opey, Aunt B and Mayberry has it seen any growth. When i was very young my grandfather was county sheriff Panola County in East Texas and he lived at the Sheriffs quarters, it was like Mayberry, he knew all the people in jail would sit and play his guitar for em and bring em burgers/fries etc.....sept i dont recall there being an Ottis, but there probably was...i played in the judges chair at night and we ran around the court house...good times.......
yes I did, this along with the basher articles is what took amrn down today.....i know u say sell the company and I think JZ had every intention of doing so when he made the next 90 days statement back in July/August but NCE has been delayed again and again. we now know that the new policy regarding salts etc. takes effect in May which could have some bering on a NCE decision for AMRN, plus i think early May amrn get its PDUFA date for Anchor....May could be shaping up nicely assuming jz doesnt put out a 200-300M shelf etc.
Out of money in well less than a year. Which means steps need to be taken WAY before then to secure more financing. The proxy with approval to borrow more money is one step. Don't be suprised at a shelf either any day now. I would think by 3rd quarter at the latest they would need to either do the dilution or borrow more money. Waiting longer than that is too risky.
Terrible situation. Think about how much money DNDN blew in marketing. Just an incredible, unfathomable amount. This is money being wasted as well, instead the company could have been sold and the product integrated into an already established sales force. GIA is just awful awful awful. And it is destroying shareholder value.