Amarin Corporation plc Message Board

Yes. On OMTH. Idiot.

Sentiment: Strong Buy

Gotta love ISRG swinging back in the PR: "despite the concerted effort" against robotic surgery.

Launch isn't even until "sometime" in 2014. Meh.

"Omthera Pharmaceuticals’ lead-bookrunners Bank of America Merrill Lynch, Barclays and Leerink Swann struggled to attract interest throughout the marketing. On Tuesday morning, the banks communicated that the deal was only half-covered and followed the following morning that pricing was likely to be in the US$8–$9 range, versus a US$12–$14 target.

The process culminated in pricing of 8m shares at US$8, with increased sizing from 5.775m shares used to achieve the targeted proceeds. Sofinnova Capital and New Enterprise Associates, which led pre-IPO investments totaling US$73.4m, had committed to invest up to US$16.7m on the IPO, though it was unclear whether they followed through on the non-binding commitment. Omthera shares broke offering at US$7.40 on the open and traded in mid-afternoon activity at US$7.20, 10% below offer......Even at one-time 2015 revenue, as outlined by one of the underwriting banks’ estimates, the risks seemed too much..."

Full article:
w*w.ifre.c*m/biotechs-look-to-existing-investors-on-ipos/21079392.article

Sentiment: Strong Buy

As recently as yesterday an analyst saw the Q1 number as attainable. His reason? Wholesale stocking which began in earnest the first week of January which you seem to have overlooked. The big 3 have minimums that they've agreed to buy each quarter based on rolling forecasts.

Sentiment: Strong Buy

SPAM. PS your google translator sucks.

AMRN has ads running in trades for cardiologists, pharmacists, primary care physicians, diabetes specialists, and managed care professionals. They also sent out a massive email to pharmacists announcing Tier 2 status with Medco/Express Scripts on March 15th and after. They are ramping up professional and Direct To Consumer (DTC) advertising with a contract for WebMD which went into effect earlier this month. The DTC will undergo a huge ramp, guided by Herb Ehrenthal, as ANCHOR approaches.

Sentiment: Strong Buy

JoeZ feels taking money from a loan shark is alright when you know you're playing with your own marked deck.

Sentiment: Strong Buy

Note: "BIOPHARMA SECURED DEBT FUND II HOLDINGS CAYMAN" = Pharmakon

Sentiment: Strong Buy

It's interesting. Pharmakon was smart to demand a Bill of Sale, etc. No drawn out court battle just in case.
w*w.qpat.c*m/RenderStaticFirstPage?XPN=I2vXSZ5UCOSlcdXUJHzTd8RHIQdPpfyajIQBIFKxQPE=

Sentiment: Strong Buy

Mostly correct. I'd point out that the interest rate is for underpayments only. The amount owed to Pharmakon, were it to be paid off today, is $140M. On Jan 1st it is $150M. They own the rights to Vascepa with a signed Bill of Sale. In case of default they can auction it off but any proceeds over $150M minus legal fees reverts to AMRN or and/it's other creditors. The addition of Pharmakon as patent assignee on all issued and pending patents is, as you say, to protect their interest and the rights were signed over until such time as Pharmakon is made whole.

Sentiment: Strong Buy

Actually, they do have a say in certain matters, for others they must get advance notice. It's all their in black and white in the Agreement and Bill of Sale. And the patent rights have already been transferred. Several patents already have Pharmakon listed as a patent assignee. The interest rate is only for underpayments. Pharmakon transferred $100M to AMRN and immediately was owed $140M ($150M after 12/31/13)

Sentiment: Strong Buy

Also, why blackout the wording that all items that Pharmakon had requested including data, copies of contracts, etc had been provided? Was it to avoid a brouhaha with suppliers, etc who had mandated confidentiality of said data? I expect management to be more transparent than they have been historically with us. If not for KaylaW and others on this board we never have known about the FDA meeting, the internal Novasep Mourenx document, or now the unredacted version of the Pharmakon Purchase Agreement. As grateful as I am, we shouldn't have to search a message board for key info ie interest rates or restrictive convenants.

Sentiment: Strong Buy

I think the most interesting items to most are the items and terms AMRN wanted to keep secret and filed a CT order to obscure. If its not a big deal why did they have the 10% of Net Sales provision blacked out on the version provided to shareholders through the SEC? Why black out the information on NCE? Why is Pharmakon allowed advance notice on enforcement action AMRN pursues? Why the language on abandonment of patents unless they intend to keep open an option to pursue a strategy that was mentioned on an FDA Law blog of abandoning certain patents to foil generic challenges? And they signed over a lot more than just the patent rights. If you read the entire text of the documents (both of them), they signed over EVERYTHING related to Vascepa. They gave up Patent Rights and Product Rights including trade secrets, databases, samples etc and provided a signed Bill of Sale. Regardless of whether there's little chance of AMRN defaulting, was ALL of that really necessary? Don't get me wrong, I fully agree with KaylaW that there's a BO or big partnership coming and that money was needed in December to launch but these are interesting questions and part of sound investing is to look at a situation from many angles.

Sentiment: Strong Buy

If the OB for February is In the OB now it will say February. And oh, look, it DOES. March isn't over yet and March will go in during the 2nd full week of April. But thanks. Your copy n paste just confirmed the OB was updated today.

Sentiment: Strong Buy

Yesterday, it said updated through January. Today it clicked over to "through February". What does that tell you?

Sentiment: Strong Buy

SR has officially lost all touch with reality. It HAS been updated.

Sentiment: Strong Buy