True, about as bad as it could have turned out. Dilution will mean a wipe-out for current shareholders. Hope I'm not repeating myself but the only available option for existing shareholders is to terminate reduce-It immediately. Once that's done, the company is worth a multiple of expected Vascepa sales. Until then AMRN has no value and, given management's expertise in fund raising, my guess is they'll dilute when the pps as around 25c. Every day they wait, it becomes more expensive.
that this stock is worthless unless Reduce-It is stopped.
Stopping Reduce-It would likely put the company at the value of the current indication which is around the $2.50.
Continuing Reduce-It , which means wiping out current shareholders to get the funds needed, means the share has no value. It's worth exactly zero and we're not that far from there now.
To be honest, there's no other way to fund Reduce-It.
Current shareholders can survive or Reduce-It can survive
But, given the financial state of Amarin, there's absolutely no possibility of both surviving.
The only logical thing for current shareholders - kill Reduce-It now.
un 21, 2011 Maxim Group Initiated Hold
Apr 19, 2011 William Blair Initiated Mkt Perform
Mar 17, 2011 Oppenheimer Initiated Perform
Dec 6, 2010 Deutsche Bank Initiated Buy
Are these guys still covering PACB?
I'd expect upgrades from all if they heard the cc.
I have to admit I'm impressed with the pig-headedness of the shorts. PACB is guiding for a 300% plus increase in sales this qtr and the shorts refure to throw in the towel. I'm reminded of the brave knight guarding the bridge in the infamous Monty Python and the Holy Grail scene! I wonder id the shorts will suffer a similar fate!
I suspect shares short increased into results but on Sept 30th, the number was 8.56M on a float of 46.44M: There could well be 25% of float short this morning.
Avg Vol (3 month)3: 591,194
Avg Vol (10 day)3: 658,212
Shares Outstanding5: 70.63M
% Held by Insiders1: 18.97%
% Held by Institutions1: 54.30%
Shares Short (as of Sep 30, 2014)3: 8.56M
Short Ratio (as of Sep 30, 2014)3: 15.50
Short % of Float (as of Sep 30, 2014)3: 16.70%
Shares Short (prior month)3: 8.21M
We shall see what the shorts are made of!
Agreed. Does the consumable revenue appear a wee bit on the low side compared to the selling price on the RS II. I wonder if PACB will start in increase prices for consumable as the installed base expands?
Planning on installing up to 20 new devises versus 6 in Q3. 20/6 is 333%. Explosive growth. I wonder what happens for Q1 next year.
Not the kind of stock you's want to be holding a short position in, that's for sure.
My condolences on your short position,
The key fact here is:- " The Company also reported booking orders for 16 PacBio RS II instruments during the period, ending the quarter with 20 instruments in backlog."
It would appear their demand for the RS II just doubled quarter over quarter and was 60% above what many of hoped for. Another few quarters with that sort of growth and we might be chasing ILMN!
Unfortunately it will take the whole company, and then some, to raise the money needed. Nobody will agree to come in behind the existing debt holders and assume the risk here. There's an intrinsic oxymoron there. If anyone was that stupid, how could they possibly be in possession of the funds needed?
Do you see the problem yet?
'factual basis'? Can you not take a peek at projected cash flows and confirm for yourself that there are no funds available for 2016 or 2017 to carry on the Reduce-It trial, even assuming Vascepa sales pick up.
Why can't we discuss the problem? What the heck is wrong with everyone?
'factual basis', that's the whole problem for petesake, factually, there's no money to complete the trial. That's the 'basis' of the reality that current shareholders will be wiped out. Is everyone here dense or what?