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Amarin Corporation plc Message Board

  • pinewood44 pinewood44 Nov 12, 2000 10:06 AM Flag

    AMARIN earnings: 12 cents/share

    Amarin earned approximately 12 cents per average
    outstanding share in the quarter (less than 6 million); each
    "American" share is equivalent to 10 "English" shares.
    That's why the stock went up so fast.

    To me, the
    unknowns here are:

    - how many shares there are, on
    fully diluted basis? I reckon at least 10 million
    (American).

    - how much did they sell? I mean, this is
    the first quarter with the new products; were they
    filling the channels, or did they indeed sell the
    products?

    - what is the value of Amarin's existing research
    organization in Sweeden?

    If indeed the sales booked in
    this quarter will remain at this level, or even
    increase, next quarter, and the dilution process (Elan's
    convertible) is slow, we might indeed have a bargain here. I
    would like to take a look at the balance sheet, but
    that's almost impossible with these guys (where to find
    their filings?).

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    • Dear Pine,

      Bapchaman and others
      occasionally drop by this board from the ELN board, given the
      strong interest ELN has in AMRN. I have found AMRN
      documents on their Web site Amarincorp.com

      I think
      they have somewhere around 56M shares or 5.6M ADR's.
      As listed in their Q3 release.

      I was pretty
      impressed with the Q3 results. I understand that the sales
      were "real" sales as there was was limited loading
      opportunities because these products were acquired and already
      on the market, not launched products. Sweden is
      still hanging around, and they need to make it
      profitable so it isn't a drag on the US.

      Management,
      virtually all Ex-Elan executives, have said they will
      aquire a marketed or late stage product before the end
      of the year. Let's see if they
      deliver.

      Overall, I agree that it may be a bargain, I'd also like
      to see more liquidity.

      Good luck,

      Tart

      • 1 Reply to tartwiththecart
      • Dear Tart,

        Thanks for your
        comments.

        As I mentioned in my post, I believe Elan also owns
        convertible notes, that's why I'm not sure how many shares
        there are fully diluted (the company specifically
        mentioned "undiluted" shares in the earnings
        release).

        Can you elaborate more on the Sweedish operations? Is
        this the old drug delivery business of Ethical
        Holdings, or are they working on other
        areas?

        Incidentally, a stock that resembles a bit Amarin is tiny
        Bradley, BPRX.

        Best of luck,

        Pine

 
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