Amarin Corporation PLC (AMRN)

https://www.facebook.com/share/p/17nnHnr7cj/?mibextid=wwXIfr

Compassionate use? I didn't think it was approved yet. Rumors and speculation that the CIC got it.

Since we are all bored to death here. Anyone taking Retatrutide? I’m hearing good things overall.

Not much to talk about right now

Test

At some point, investors have to step back and ask a simple question: Why hasn't the only drug with proven cardiovascular event reduction from triglyceride lowering, on top of statin therapy, become an instant blockbuster?

The science has been there for years. If a product with this level of clinical evidence fails to achieve its commercial potential, the problem is not necessarily the drug—it is often the execution.

Thero came first. In my opinion, the opportunity was significantly damaged by years of inadequate commercial execution, allowing momentum to be lost despite a differentiated product.

Then Denner arrived. Shareholders expected a turnaround, but enough time has now passed that investors are justified in asking why the commercial performance has not materially improved.

Perhaps the greatest concern is that this opportunity will not last forever. Today, Vascepa remains the only triglyceride-lowering therapy with proven cardiovascular outcomes. However, competitors are rapidly advancing.

Arrowhead's plozasiran has already entered the Phase 3 CAPITAN cardiovascular outcomes trial, which is specifically designed to determine whether the dramatic triglyceride reductions produced by plozasiran also translate into fewer heart attacks, strokes, and cardiovascular deaths.

Ionis' olezarsen has demonstrated impressive triglyceride lowering in the ESSENCE-TIMI 73B program, and additional cardiovascular outcomes studies are anticipated to determine whether it can match or exceed Vascepa's proven cardiovascular benefits.

If either of these next-generation therapies ultimately demonstrates cardiovascular outcome benefits comparable to—or greater than—Vascepa, Amarin's unique competitive advantage could disappear. That would not be because the science failed, but because management failed to capitalize on the years in which Vascepa stood alone.

At some point, leadership must be judged by results, not promises. A great drug cannot compensate indefinitely for poor execution. Repeating the same strategy while expecting a different outcome is not a business plan—it is a recipe for continued disappointment.

In my opinion, Thero's leadership was deeply disappointing and cost shareholders the opportunity to realize the full value of Vascepa during its years of exclusivity. Investors deserved better execution.

I believe this company will ultimately become a business school case study demonstrating that even the best product in the world cannot overcome poor execution. A company may possess a groundbreaking therapy, but without exceptional leadership to commercialize it, the opportunity can be squandered and shareholders may never realize its true value. Science alone does not build great companies—leadership does.

ITS BOOMING! Gazillionaires galore !!

This is an example of why I hate most reporting............ they publish a very good article on the study of the effects of high dose DHA on the brain

Fish oil, DHA may not help improve your memory or cognition, study finds

And they show a nice picture of Vascepa without any explanation saying this is not DHA and has nothing to do with the study. Such laziness and misinformation.

Hard to know. Important to note that this study only used non-demented adults.  

This is interesting. From everything I have read and understand, DHA is very important for infants, children, pregnant women, etc. It is critical for brain development. But once brains are fully developed (ie. adulthood), replenishing DHA is of less importance.

EPA, as we know, works on a very different pathway in the brain. I hope we can continue to see more studies on EPA for brain health. I still feel that the BRAVE study was not long enough, and would have produced some better results with a longer study.

https://www.thelancet.com/action/showPdf?pii=S2352-3964%2826%2900198-2


https://fox17.com/news/local/fish-oil-high-dose-dha-omega-3-supplement-reached-brain-did-not-improve-memory-cognition-dementia-risk-study

Keep paying attention to the narrative builders and always assume that SEC rule 10b5 violations exist. When is new short data due? 13F’s get filed by August 15th I believe. 
Ownership Imbalance, Governance Friction, Quiet Institutional Buying & Tactical Shorting
Current snapshot (June 23, 2026 close):
•  52-Week Range: $12.96 – $20.90
•  Market Cap ~$335M
•  Cash ~$308M (debt-free) ? trading near net cash
•  Shares Outstanding 20.97M (up modestly from ~20.8M immediately post 20:1 reverse split in April 2025 due to routine equity compensation) | Float ~18.51M
•  Retail ~75.11% | Institutional 22.91% (includes Sarissa ~8%) | Insider 1.98%
•  Short Interest (5/29/26): 624k shares (~3.03% of float, ratio 8.81)
Ownership Incentive Problem
Insiders hold only 1.98%. Institutions hold 22.91% (Sarissa ~8% within that total). Retail owns ~75%. This structure gives Sarissa significant board control with relatively modest economic exposure relative to the retail base. There is limited direct incentive for rapid value maximization that would primarily benefit the large retail majority — especially after repeated AGM opposition to dilution proposals.
Key Facts from Filings & Data:
•  Revenue declined from ~$307M (2023) to ~$214M (2025).
•  Headcount reduced from ~365 (pre-2023) to 80 employees (2025).
•  SG&A cut from $199.9M (2023) to ~$115M (2025).
•  20:1 reverse split executed April 2025.
•  Hikma litigation lost 9-0 at SCOTUS (Perkins Coie counsel).
•  Recordati partnership shifted Europe to supply + royalty model.
•  Barclays strategic review engaged June 2025 with limited public updates.
Trading Mechanics & Short Interest
•  Dark pool / off-exchange volume consistently 45–58% of total (48.52% on June 23 with 60,557 shares off-exchange).
•  Specialist institutions (Waterfront Wealth, Kynam ~472k shares, Acadian ~637k, Millennium, Point72, etc.) have shown net buying in recent 13F filings.
•  Short interest rose modestly in early May to ~3.03% of float. Borrow fee remains very low (~0.27% annualized) — cheap and easy to borrow. This is opportunistic/tactical shorting, not heavy conviction.
Retail (~75% ownership) supplies shares on strength (profit-taking from varying cost bases). Specialist institutions absorb those shares quietly via dark pools and secondary market purchases. Shorts opportunistically fade the pops in this low-float environment. The result is gradual ownership transfer from retail to institutional hands at depressed prices near net cash.
Recent price/volume charts show volume expansion on up days (including notable spikes), consistent with the principle that volume precedes price. Recent IR activity (Goldman Sachs Healthcare Conference participation and CEO comments on Q3 2026 visibility for restructured business results) fits the “cleaner story / sharper audience” messaging, but has not yet driven broad institutional re-rating.
Catalysts Ahead
•  LR-EtEPA patent election response (late July/early Aug)
•  Potential EMT2 data
•  Q2 earnings & CC
•  Barclays strategic review updates
Governance friction and the ownership imbalance continue to weigh on the valuation. Retail’s large stake gives real voting power to push for transparency and capital returns.
Thoughts? How are others viewing the ownership incentive dynamics, dark pool activity, volume on strength, tactical shorting, retail supply on strength, and the balance between operational/IR changes and persistent valuation discount?
GLTA

DMC
Nice find, thanks for posting.
It's facts like this that will add to the rocket fuel that propels us to a BO
over $400

Pharmaceutical Omega-3 API Market to Reach USD 2.3 Billion by 2036 as Prescription Cardiovascular Therapies Drive Demand for High-Purity EPA APIs, FMI
https://www.24-7pressrelease.com/press-release/536140/pharmaceutical-omega-3-api-market-to-reach-usd-23-billion-by-2036-as-prescription-cardiovascular-therapies-drive-demand-for-high-purity-epa-apis-fmi

Keep contacting IR/Sarissa/BOD and Torok. Also notice who’s conspicuously absent since the vote and SCOTUS. Torok got a seat on the BOD and most likely got compensated for his legal costs. He’s a conman with friends. Wink. 
Ownership Imbalance, Governance Friction & Quiet Institutional Buying
Current snapshot (June 23, 2026 close):
•  52-Week Range: $12.96 – $20.90
•  Market Cap ~$335M
•  Cash ~$308M (debt-free) ? trading near net cash
•  Shares Outstanding 20.97M | Float ~18.51M
•  Retail ~75.11% | Institutional 22.91% | Insider 1.98%
•  Short Interest (5/29/26): 624k shares (~3.03% of float, ratio 8.81)
Ownership Incentive Problem Insiders (including Sarissa’s ~8% stake) hold only 1.98% of the company. Institutions hold 22.91%. Retail owns the overwhelming majority (~75%). This structure gives Sarissa significant board control with relatively modest economic exposure. In this setup, there is limited direct incentive for rapid value maximization that would primarily benefit the large retail base — especially after repeated AGM opposition to dilution proposals.
Key Facts from Filings & Data:
•  Revenue declined from ~$307M (2023) to ~$214M (2025).
•  Headcount reduced from ~365 (pre-2023) to 80 employees (2025).
•  SG&A cut from $199.9M (2023) to ~$115M (2025).
•  20:1 reverse split executed April 2025.
•  Hikma litigation lost 9-0 at SCOTUS (Perkins Coie counsel).
•  Recordati partnership shifted Europe to supply + royalty model.
•  Barclays strategic review engaged June 2025 with limited public updates.
Trading Mechanics:
•  Dark pool / off-exchange volume consistently 45–58% of total (48.52% on June 23 with 60,557 shares off-exchange).
•  Specialist institutions (Waterfront Wealth, Kynam ~472k shares, Acadian ~637k, Millennium, Point72, etc.) have shown net buying in recent 13F filings.
•  Retail turnover on strength supplies shares that are absorbed via lit market and dark pools in this low-float environment.
The market is currently assigning near-zero value to the operating business, drug franchise, and LR-EtEPA IP. This creates the conditions for the observed quiet accumulation by specialists while retail supplies shares on strength.
Catalysts remain in front of us (LR-EtEPA patent response late July/early Aug, potential EMT2 data, Q2 earnings, strategic review updates), but governance friction and the ownership imbalance continue to weigh on the valuation.
Retail’s large stake gives real voting power. Continued pressure for transparency, capital returns, and timely strategic clarity is a logical response.
Thoughts? How are others viewing the ownership incentive dynamics and balance between operational changes and persistent valuation discount? 

Just another look at the OHLCV chart for May & June (so far). Let's see what today does:

https://www.linkedin.com/posts/amelia-carro-hevia-90534468_icosapent-ethtyl-cardiac-metabolomic-lipidomic-ugcPost-7467106508346937346-f29h?utm_source=share&utm_medium=member_ios&rcm=ACoAAAappXEBEo5xWglK2bmEx478x0aaRWW4o7I

Hard to tell. But I'm not sure why there would be end-of-quarter buying unless something was up.

You just never know with AMRN. It could be absolutely nothing. Or it could be the company is about to be sold. Or anything in between. 😅

With Sarissa being notoriously silent on everything, we will be the last to know.

But if I had to bet, I would say it's just the result of the XBI going up. We are not in the index, but it pulls up the entire segment. So likely just momentum algo trading.

JRoon71

Could be the end of the quarter buying ?

Michael

Been a bit of an uptick in volume since June 4th, after a very slow few months. Will be interesting to see if there is follow-through on this volume, or if it's just temporary.

Thank for the view capt!

That would be good for sure. 

rosemountbomber

Possibly the share buy back in progress ? Crazy high of the day to low of the day on 5,000 shares traded

Michael

It sort of doesn't feel like when I look at the bios in my portfolio, but they have been waking up of late. I guess that is more on me though. I usually start to get worried when it starts to look parabolic on a chart. Will take tiny profits on the way up. The ones in my account that are doing good of late usually have some upcoming catalyst or good story. We need to get one here in Amarin to get out of this rut.

It's TRUE the xbi is now up 80 percent in 1y and 11 in a month. Did have 3 disaster years prior.

Baton being passed from AI to Bios.

VAZKEPA is not only capturing the OMG-3 Market, but the Market is growing rapidly. Very soon we will see 1,000,000 Caps/Month with VAZKEPA over 65%!

Governance Concerns vs Operational Progress in a Low-Float Name (June Update)
The May 13, 2026 AGM delivered strong “Against” and “Withhold” votes on several proposals (new share issuance, equity plan amendments, pre-emption rights). Despite this, the board remains fully intact while overseeing the Barclays strategic review. This has fueled legitimate debate about board accountability and entrenchment.
Key Ownership & Statistics:
•  Retail/Public: ~75.11%
•  Institutional: 22.91%
•  Insider: 1.98%
•  Shares Outstanding: 20.97M | Float: 18.51M
•  Short Interest (5/29/2026): 624k shares (~3.03% of float, Short Ratio 8.81)
Governance Concerns (Shareholder Perspective):
•  Revenue declined from ~$307M in 2023 to ~$214M in 2025.
•  Approved $50M share repurchase program remains unexecuted.
•  Shift toward higher all-cash compensation has added an estimated $4.7–5.7M in annual cash burn.
•  Limited public updates on the Barclays strategic review (engaged June 2025), LR-EtEPA patent progress, EMT2 timelines, or international execution.
These issues raise valid questions about responsiveness to shareholder votes and transparency.
Operational Counter-Perspective (What Sarissa Has Delivered): Since gaining board influence in early 2023, the company has executed a major restructuring targeting ~$70M in annualized cost savings (on track for full run-rate by mid-2026), transitioned to a fully partnered international model with Recordati, achieved positive operating cash flow, maintained a clean ~$308M debt-free balance sheet, and continued advancing LR-EtEPA formulation patents. These steps represent real progress in a difficult post-generic environment.
Trading Dynamics – Quiet Accumulation: Despite governance friction keeping the valuation compressed (trading near/below net cash), specialist institutions have continued selective net buying:
•  Waterfront Wealth, Kynam Capital (~472k shares), Acadian (~637k), Millennium, Point72, and others.
•  Dark pool/off-exchange volume has averaged ~45% of total volume, allowing institutions to absorb retail supply (profit-taking from varying cost bases) quietly.
Recent price action (spikes followed by rollovers) reflects normal low-float mechanics: retail selling on strength supplies shares that patient specialists accumulate via lit and dark pool channels. This is not unusual distribution — it is consistent with positioning ahead of catalysts in a thin market.
Catalysts Ahead:
•  LR-EtEPA patent election response (late July/early Aug)
•  Potential EMT2 data readout
•  Q2 earnings & CC (late July)
•  Barclays strategic review updates
Retail’s large ownership stake (~75%) gives us real voting power, as shown at the AGM. Continued pressure for transparency and capital returns is reasonable, while the operational improvements and low float create a setup where positive catalyst resolution could drive meaningful re-rating.
The situation has two valid sides: legitimate governance concerns versus tangible turnaround execution in a challenging environment. 

OT Denisk. First, I need to take ownership of an error on my part. I just quickly jumped to using the term RS where I should have rather talked about delisting by the exchange. Although I don't know the actual percentage, many companies (but not all) choose to do a RS rather than being delisted. TLPH has until September 7, 2026 to regain compliance by having the stock's closing price reach and maintain at least $1 for a minimum of 10 consecutive business days. Now if they fail to meet the deadline, they may be eligible to seek an additional 180-day grace period. I believe Ernie that the company doesn't seem to be worried about it at this juncture as they have not delineated a RS proposal to shareholders.

Wel, according to Ernie on UNCY blog , here is what he said about the RS last friday, I believe:
ErnieBilco to You:
"They must be pretty sure because it isn't even being voted on at their annual meeting on Monday."
Let's see who is right? What is the deadline to be above $1 to avoid the RS?

As far as TLPH, I could be wrong but since it closed under $1.00 I assume the 10 day rule starts all over again to prevent a potential RS.

Probably some of the investors that bought on June 4th took some profit around $17.00 with the volume being twice the normal day volume.

Well I just bought a few more shares of Amrn at $15.51. Also regarding TLPH bought a couple of 100 shares at $0.99 after the almost 9% drop from friday's close.
Just being cautious. 😉

Yes interesting DAR. Whoever was buying hand over fist between 16.5 and 17, either no longer interested at 15.5 or has run out of cash.

I thought it was strange, Early heavy volume for whatever reason spiking the sp up to $17.26 and then volume dried up and the sp fell back to $15.63 which is below last week's trading. Not sure what caused the volume spike as I don't have Level 2 reporting. I was liking the $17+ number.

No one else finds today's trading range absolutely bizarre?

What an absolutely insane trading day as we are now at 15.74. Crazy swing.

Although the total scripts are still fairly modest, it is encouraging to see the same trajectory continue. AND, the trajectory of growth is stronger than the rate of decline in generic O3 EE's - also a positive sign that we are growing the market, not just taking market share.

Hoping that at some point, Recordati's influence will start to be felt, and the trajectory will increase.

Thinking back to the charts Captain used to post of Vascepa in the US, this trajectory reminds me of the growth pattern prior to REDUCE-It coming out, when we were just selling the MARINE indication. Point being, there is still plenty of opportunity for growth.

Thanks Capt for all that work you put in getting this UK data to us. Appreciate it. Definitely like the upward arc of Vazkepa scripts there and yes we have overtaken omega-3 but disappointed in the physicians or whoever is pushing the O-3s. I have forgotten or don't remember whether the UK covers the cost of O-3s (they are not covered in the EU) but it reminds me of the stubborn insistence to prescribe fibrates here when the FDA has been bashing fibrates for a decade. V's scripts there could be almost double if they stopped pushing the O-3s.

Fairly decent resistance around $17.25ish

Correct. We’re only into April. 

Qtr 2 number is not accurate, right since qtr has not ended yet

TABLE 1: Quarterly VAZKEPA Caps by Geographic Region:

Should be another great day for bio sector with abbvie buying apogee for 11b xbi now trading at 5 year high. Amrn should follow
I just checked and was surprised to see amrn is no longer in the xbi. Stock should still do well but not being in a bio etf is a negative.

Slide #3: VAZKEPA Monthly Caps by Geographic Region:

$AMRN The April 2026 EPD Data is in. Here’s a quick look at the Numbers for VAZKEPA vs Omega-3 ethyl esters (7 generics of mixed EPA/DHA).
A quick observation: VAZKEPA continues to capture market share in the OMG-3 Space (now over 60%, Slide #2).
I’ll have more details later when I get some time.

Slide #1 (Monthly chart)
Slide #2 (Quarterly Market Share)

$AMRN EPD data for April 2026 will drop any day now. In the meantime, here’s a look back on the end of Q1 (March 2026). I have added an additional Slide (Slide #9) that compares the VAZKEPA vs. OMG-3 EE by Region. Here’s a link to the Slide Show:

https://drive.google.com/file/d/1grT8K8KjL89kgcBkoSYB-w8Q6uLGha_S/view?usp=sharing
Enjoy!

I agree with %100 and i share your feelings. I am hanging in here after almost 14 years, maybe more I lost count! But we really must be doing something before it becomes too late and they kill this company!

A serious suggestion, Captain Beer. Send a podcast of all your graphs to the Maryland organization responsible for constructing a time capsule to be buried somewhere very near Philadelphia. The podcast would memorialize what we hope will happen to Amarin, another immigrant entity from Ireland, whose drug reduces the risk of dying from many cardiovascular diseases. Today, more people die from CVDs in a few hours than the estimated 2500 attendees that were saved from dying by quick action by the Secret Service and police at the recent (postponed)  Correspondents dinner in Washington, D.C. Then send that podcast to the Washington Post, WSJ, NYT, Houston and Dallas newspapers, and Bloomberg.

Another story. The Theodore Roosevelt Museum and Library is scheduled to open on July 4, 2026 in the outskirts of Medora, North Dakota. Ever been there? Twice for me, years ago. Visit Wikipedia on Google Search for the museum and library historic story. Roosevelt already appears as a face on the Mount Rushmore memorial in western South Dakota. A CBS reporter today told what Roosevelt is reported to have said so many years ago: “To make things happen the way you want them to happen, you have to step forward yourself and make them happen.” The physical (maybe virtual too) museum contains an AI button you can press to ask TR a question. “Be prepared for his answer.” Does the ghost of TR know about lies being told today by others, not limited to certain Presidential lies uttered in the past?

Ammarmalhas, yes it is quite discouraging. Typically, since retail shareholders doesn't have much clout, we look to an activist shareholder to come to the rescue. But that hasn't worked lately for us; Denner first, Torok last. For me the lack of communication is the big concern. Either that is because they have no concern for common shareholders OR they really don't know how to proceed with their business so there is nothing to tell. Either scenario is not good. As I mentioned recently, the company is and has been between a rock and a hard place. Tough to increase sales in the U.S. because of the Generics and tough sledding in the EU because of two things: Germany and France (2 biggest markets) not on board, and no DTC advertising in the EU.

I personally have no magic formula to solve Amarin's business situation. Others have proposed a number of things such as AG or other things but I have no idea that any of those ideas will produce significant results. The new formulation holds promise, but for me anyway, I need to hear the company discuss this potential avenue to know clearly what to expect. If that is the path that solves many of Amarin's problems, it will take some time. Many here think that Amarin would be a fool to try to introduce the new molecule by themselves and a big Pharma would be best. Not sure what BP would be willing to pay.

Willing to wait until we hear about the new formulation, after hanging on here for 14 years.