Because at this point NCE isn't a very big deal. Joe Z said it himself...much ado about nothing. There are much more important issues than NCE going forward. Sales growth it so bad that that is front and center right now. At this growth rate it will take several years to get to break even. So they can barely sell it WITH exclusivity, so more exclusivity doesn't change the equation. They need faster growth for NCE to really matter.
You asked why the stock isn't higher. Ridiculously slow sales growth isn't a factor in your mind?
Zevalin will do $100-$300m a year within the next 2-3 years.
You and wedge appear to be the only people left in the room. Don't forget to turn out the lights on your way out.
This is supposed to be what was to happen to PKT. Stock was at $8 on May 22. First offer comes in at $17. Now that offer has been beat and $20 offered by someone else. $8 to $20, two offers. PKT decides $9.50 to $11.50 is "compelling value to shareholders". And no further offers received.
50% was never an issue. Wedge wrong AGAIN.
That's the point and why FDA is being overly cautious. The fact that those drugs sold so much and were later shown to be dangerous makes them weary of approving Vascepa. Why is this hard to understand?
Look like $4s soon. Still healthy at 0.70x revenue, especially in comparison to the valuation PKT was getting. ALLT is still rich in comparison. High $4s likely bottom.
He's not with PKT any longer. Very successful pump job CEO resulting in millions and millions of personal $$$$. Milked it for all it was worth. Reality did not matter to him; only the pumping and insider sales he could muster. I love this country!
Absolutely appalling. The man responsible for destroying this company continues to milk the cow. "not a penny under $30!" was one of the greatest mistakes in biotech history. He made MILLIONS off of his lying pumps. And he is STILL getting free shares! And people wonder why this company is a joke.
What about the management greed that cost shareholders? This company could have been sold for $15-$20 well before the ADCOM. Yet Joe Z wanted no less than $30. Joe Z burned so many bridges it wouldn't surprise me if all the FDA hostility is due completely to HIM. Furthermore, management has proceeded to make many many horrible decisions. Refusing to partner with anyone, refusing to sign a Euro deal, not diluting at $12 and instead taking a horrible horrible loan, etc. The list could go on. Regardless of the FDA stance, AMRN management has done NOTHING right over the last 3 years. NOTHING. And now we are 3 year past approval and scripts are pathetic. And every day that passes is just one day close to eventual patent expiration, ie the value of Vascepa is going down every day because it has less and less time of patent protection. Even if Reduce-It is positive, approval won't be for a couple of years, even then, no guarantee the FDA doesn't block that either and use another excuse.
Joe Z's failure to sell the company in 2012 is the MAIN problem. He could have de-risked everything for shareholders and made this someone else's problem. Instead, he had hubris and greed, and karma caught up with him. Unfortunately shareholders are collateral damage to a deadly sin.
Yep, agree. It's tough when you have white collar criminals like Joe Z lying to your face telling you about the exciting days ahead and more interested companies than employees. Hard enough on wall street, let alone trying to navigate lying, criminal CEOs.
Even if Reduce-it is successful, approval probably isn't gonna happen until late 2018 or 2019. Which is like 1-2 years away from when generics can enter. Not much value in 1-2 years of an indication.