Hi smw397. I have been a shareholder for about 5 years now, and I'm very nervous about these earnings, especially with the recent price drop. I've often found that drastic price drops such as the one yesterday generally mean that there is bad news looming that someone got wind of.
This post of yours is very uplifting and has given me a more positive outlook on the earnings. I wanted to do some more research on it myself though. Where would I find more information about this? Sorry, I've done the general google search, but it hasn't turned anything up.
Thanks a lot!
I have to say, though I disagree with your sentiment, it's a breath of fresh air to hear someones honest, non-bashing, opinion. I appreciate your response and the fact that you are invested in a product that you believe in. :)
A shoe in? How is an overwhelmingly negative vote by experts that the FDA asked for their opinions on a shoe in?
I agree, they definitely were dazed and confused, but that's because the FDA was pushing them in the direction of a "No" vote, while the question really was asking to be answered "yes". Unfortunately, the FDA wants this to be a "no", and that's the way it's going to be.
Disclaimer - These are the opinions of a bitter bitter long and I apologize for my grumpy attitude. I wish I had your same optimistic attitude, but I don't want to see anyone else get burned on something that seems fixed from the start.
Can you honestly explain why the buyout possibility is high now? I'm sorry, why is it "very high"? Seriously....Why would someone wait for the worst news in the history of the company, and then offer more than triple the price of the stock? Honestly, I would really like to hear this.
Good question. I can only come up with educated guesses at this point. Tomorrows trading should be interesting. I bet it will open very low...Drop even lower, and then end up higher than it opens.
7:00 PM Eastern Time....I believe that's 6:00PM CT...Google it to be sure...
You can listen to it live on the investor relations part of the Amarin website.
Ughh...You read the meeting the same exact way I did. They kicked AMRN down, but got them sympathy cards with puppies to make them feel better.
I'm not sure why they were doing it. I do understand social situations and basic human psychology. I know what I saw in that meeting and the FDA led the panel to a "NO" vote in every possible situation. I was skeptical until I actually heard the FDA propose to actually change the wording of the question to get one of the panel members to vote "NO". This was the same question that was agreed upon when it was released Friday. You can't just change the question on a whim, so nilly willy. It was at this point that I knew for sure that they wanted a "NO" vote. I can only guess as to why though.
Regardless, it's a shame on the outcome and I'm definitely bummed out about the decision. I don't care how anyone spins it...This is a very bad day for Amarin.
My opinion is that the FDA wanted a no vote today. The whole meeting today was definitely negative, but even when there was some sort of positive, pro-Vascepa, conversation that crept up, they immediately put in a "yeah but"...
The proof is in the fact that they were willing to change the wording of the one question. Dr. Seely was asking about the wording of the question, saying that she would approve the drug if it says that it lowers triglycerides, but would not approve it if the label was for reducing CVD. She made it very obvious that the wording was the former, and that her vote would be "YES" based on the wording. At that moment, the FDA said that they would change the wording of the question!!!??? Why would they do that unless they were trying to get one specific answer? Then about 5 minutes later, a different FDA member corrected that statement saying that they can't change the question...
Either way, it's unfortunate, because even the panel members felt bad voting "NO". They said that Amarin did everything that was asked of them, and that they need more companies like Amarin to put out good drugs. They know it's a good drug, but since the FDA clearly led them down one specific path, they had no choice but to vote "NO".
My response to the FDA - Don't ask a question if you are looking for a specific answer.
It doesn't have to go under 5.50 for him to make money on it, right?
Granted, the volume of the 5.50 puts is not up at 10,000, so odds are he didn't sell them yet.
Also, I'm not implying he has anything to do with it...I just think it's unfortunate that the article was titled the way it was.
His article was titled nicely for people to jump on, wasn't it?
I think that's why the stock jumped because they simply saw "AMRN will receive a positive vote by the advisory committee". Unfortunately, I think that's why the price jumped and no other reason.
I'm still a buy.
Many biotechs are seeing the same decline...I wonder if it has to do with the federal government and the funding towards biotechs/FDA approvals, etc.
If you read his other posts, he's actually pro-Amarin. It was also a good call to say 7.23 was going to be the high of the day...It might not be, but he definitely called the temporary dip.