Whalatane
2 hours ago
N7. per Grok
Sarissa Capital Management LP has made multiple purchases of Amarin Corporation plc (NASDAQ: AMRN) stock over time, with specific details disclosed in SEC filings and public statements. Below is a list of known dates and amounts of their purchases based on available information:
Initial Significant Purchase (circa 2021)
Date: Around November 2021 (exact date not specified in early reports, but tied to initial activist involvement).
Amount: Sarissa acquired a 6.06% stake, equivalent to approximately 24 million shares at the time, based on reports of their early position (e.g., CNBC, January 29, 2022). The exact number of shares purchased initially varies slightly by source, but this aligns with their early 13D filing activity.
Increase Reported on December 5, 2023
Date: Purchases occurred prior to December 5, 2023, as detailed in an SEC 13D/A filing on that date.
Amount: Sarissa increased its ownership from 29,300,000 shares (reported on September 5, 2023) to 33,470,000 shares, indicating a purchase of 4,170,000 additional shares. This raised their ownership to 8.2% of Amarin’s outstanding shares.
This conflicts with Perplexity's data ...which is the latest you just posted
According to the most recent filing reported in the search results, Sarissa Capital Management LP owns 24,850,623 shares of Amarin Corporation plc167. This information is based on the latest 13F filing dated February 14, 2025, which reports the holdings as of December 31, 20241.
Dont they claim they never sold a share ....maybe just moved around in sub accounts which JR may have referred to ??
Kiwi
Denisk
3 hours ago
Just wondering whether Trump will do anything about eliminating the PBM's , especially when you know the following:
Elon Musk Wants to Know Why Healthcare Costs So Much? — Mark Cuban Gives Him 7 Brutal Reasons Why CEOs Like Him Are Making It Worse
Cuban fired back in response to the post, and he didn't just blame the government. Instead, he put the heat on CEOs of self-insured companies, including Musk, for signing contracts that make drug prices worse.
"The key is the contracts CEOs of self-insured companies sign. The PBM contracts YOU have signed for Tesla, SpaceX, and X have more impact on healthcare costs than anything you can do with DOGE."
PBMs, or pharmacy benefit managers, are intermediaries between insurers, pharmacies, and drug manufacturers that negotiate lower drug prices and manage prescription drug benefits.
Cuban laid out seven ways those contracts are keeping drug prices high and hurting employees. His exact list stated:
• Don't control your claims data
• Don't control your formulary
• Have to pay more for "Specialty Drugs" that have nothing special about them
• Get rebates that are paid for by your sickest and oldest employees and result in higher deductibles and co-pays that impact the wellness of your workers and their families.
• Cause independent pharmacies to be reimbursed for less than their costs for brand drug scripts for your employees and families, causing them to go out of business.
• Can't talk to manufacturers to put together wellness programs for things like GLP1s.
• Signed a PBM contract with an NDA which prevents you from publicly discussing your PBM contract, resulting in an opaque, inefficient market, which leads to higher prices and lower quality of care for the entire country.
"All of this allows the big PBMs to continue to distort the pharmacy market for literally EVERYONE," he wrote.
Tatsumaki
3 hours ago
The list of Sarissa companies was disclosed in the Proxy. Link below.
https://www.sec.gov/Archives/edgar/data/897448/000114036123005062/ny20006859x14_dfan14a.htm
As for shares...
https://fintel.io/so/us/amrn/sarissa-capital-management-lp
In his last 13D filed back in 2023, he reports a controlling interest in 33.4M shares. There hasn't been a more recent 13D reporting a change of more than 1%, so he still has control of 33.4M shares +/- 4 million shares.
In the 13F list on the link, you can see what Sarissa holds in their main LP, Sarissa Capital ~24M as of last reporting. There has to be ~9M shares in some other company or advisory account he controls. You can see how Denner moved 19M shares December 2022 out of his LP. This is when he loaded up his various sub accounts before the proxy. A financial "sale" on his books cause he moved them thru his prime broker. Remember everyone here was hopping up and down when MS or whichever one it was, I forget, reported a pickup of 19M shares on their 13F thinking they were investing in Amarin. No... it was just Denner shuffling shares. The 19M sale to himself cut his cost basis as he booked a loss given the share price at the time, and he most likely used it to offset gains for the year. Ultimately, he kept control of the shares which is why he didn't report a disposition of shares on a 13D at that time and told everyone "we've never sold a share". This is why his initial buy price is irrelevant and likely no longer his actual basis on his shares. He's been using and moving those shares. Every year is a new year for him and his crew, not like your IRA. Amarin's been a nice tax mule for him for 2+ years.
In 2024, he moved a majority from his sub accounts back into to his LP. Probably why you see MS showing a few million shares of Amarin every now and then. Same program just in reverse. But still should have around 33M shares under his thumb or he's violating SEC 13D filing regs and he's got a history of not caring about SEC rules.
DAR53
5 hours ago
JRoon, Sarissa has approximately 34M shares which represents only 8% of the total shares. Not 34%.
And, just another point and I know we are all disappointed, however when Sarissa first asked for board membership, they were looking for 2 or 3 and to oust PWO. Then it moved to more, 7 or so and when they won, they only had 50% of the board seats. The entire Amarin board resigned, leaving it all to Denner. So keep in mind, that is not what anybody on this board wanted or voted for.
I totally agree they (Sarissa and Amarin) have done a miserable job of communicating (non-existant) after initially running on more tranparency and open communication.
JRoon71
7 hours ago
TCI, the threshold is only 75% in a Scheme of Arrangement (more common in UK), but your point is still well-taken.
Keep in mind, if they have 32% already, and let's say they have Kynam and MS and some other institutions on board, that could get them close to 50% to vote for it.
It wouldn't take much to get 25% of the remaining shareholders who just want out.
And this assumes they don't buy any more shares themselves.
Look, I'm not saying this is exactly what their plan is. In all reality, I have no idea. But what I am 100% certain about, is that Sarissa has some sort of plan in mind that involves financial gamesmanship. They're not just "trying their best" to make Amarin a great company. They have clearly sabotaged it, so there's a reason for that.
JRoon71
9 hours ago
Always, who do you think he cares about? Us? Individual shareholders?
No. He cares about HIS investors. The investors in Sarissa funds.
And when he takes it private, and then unleashes that $300M cash on reviving the company, releasing a new formulation in the US market, reaping the rewards of the eventual rollout in EU, and then shows this to his BP's, his own clients (and himself) will be the ones that benefit.
And this would actually make him a legend in the HF world if he can pull it off for HIS investors.
Skipperdog11
9 hours ago
JRoon- I get your frustration and can offer no reasoning why the company acts as it does (or does not act when it comes to communications). I look at this stock and value it at zero in my portfolio. My experiences over the years including the few times I have lived through the death of an investment guides me to believe that we are not headed for a good outcome here. I still believe there is a better than 50% chance that I will get above current price for my shares.
I may be incorrect, but I have not seen an instance when Denner has taken a company private. I don't know how that helps him sell V worldwide, and question his desire to get down and dirty and run a small biotech company. The real issue always comes down to what is V worth in its current state and foreseeable future. Only a large organization with marketing resources, R&D budget, sufficient legal budget, and most importantly long time horizon will find any value here. I fail to see compelling reasons why Denner takes the enormous financial risks as well as risks to his reputation in the "activist" space to take on privatizing this tiny one-trick pony of a company. I still believe delisting means nothing to the value we get for our shares. That said, if Amarin is near profitable for the last year, Nasdaq will most certainly grant another 180 day reprieve. Sorry, I can't provide a nice little blurb as to why, just a lot of experience with multiple extensions.
JRoon71
10 hours ago
It's called frustration. Not knowing WTF Denner is doing is infuriating. And other than "don't worry, Denner will get us out of this", is the only explanation I hear from anyone, as to how we get out of this without losing our shirts. But we are down to 2 months before a de-listing event, and they still say nothing and do nothing. It's simply not acceptable. And this is the reason I did not want Denner gaining full control of the company, because we are 100% at his mercy.
So everyone can bash me for this opinion, but I am not clear on why every shareholder is not irate about this. Nobody would accept this behavior from any other company. Not sure why Amarin should be any different.
Doesn't anyone wonder why the CEO and CFO left, and why neither Amarin, the board, nor Sarissa have said a single thing in the past year? And why they don't defend the company, defend the stock price, or defend their product?
I feel like I'm in the Twilight Zone.
FlyFishingStocks
14 hours ago
This is the end game I have been posting since Denner took the reigns. Sarissa has profited by trading mirror image moves in AMRN since Denner took over. They engineered bogus upgrades/ rallies so that they could stomp on retail euphoria and take the price down step by step toward this day.
Delisting leads to bankruptcy(see below). R/S leads to rats jumping ship. Both set the company up for a private takeover.
Delisting can make it harder for a company to raise money, which could lead to bankruptcy. For example, creditors may call in loans or the company's credit rating may be downgraded, which could increase interest expenses.
If a company is delisted, it will usually trade over the counter (OTC) through a dealer network. The mechanics of trading remain the same, but investors may have a harder time selling the stock. This is because the OTC market has low trading volume and wide bid-ask spreads. Institutional investors also tend to avoid stocks that aren't on major exchanges, which can further lower trading volume. For these reasons, some say that most investors would be better off selling a stock before it's delisted.
If you just found out that a stock you've invested in has been delisted, you're probably worried. Delisting is generally seen as a bad sign by investors, indicating that the company could be near bankruptcy or can't meet the minimum financial requirements of the exchange.
It's going to be hard for the company to engineer rallies from these deteriorating conditions (Impossible to talk Cantor or Jefferies into a phony upgrade)..
A private takeover on the heels of a R/S allows a better prospect for the new ownership to resurrect the company's profitability.
Either scenario is not good for current shareholders.
The TA that has unfolded has given substantial circumstantial evidence of this end point. In a way it was like the "hound of the Baskervilles". The dog should have barked ... but didn't. Something was off, and PRICE proved it.
Whalatane
23 hours ago
From El President's best buddy ( Grok )
If Amarin Corporation (AMRN) does a reverse split, the chances of it eventually going private depend on several factors, but there’s no straightforward correlation between the two events. A reverse split doesn’t inherently lead to privatization—it’s typically a tool to address stock price issues, while going private is a strategic decision tied to ownership, funding, and long-term goals. Let’s assess this step-by-step based on Amarin’s current situation and general trends as of March 5, 2025.
Amarin’s Context
Amarin, known for Vascepa (icosapent ethyl), has faced challenges: declining U.S. sales due to generic competition, a stock price hovering below $1 (recently around $0.60-$0.70), and a market cap of roughly $250-$300 million. It’s cash-rich (over $300 million reported in recent quarters) with no significant debt, but its revenue has been shrinking, and profitability remains elusive. A reverse split seems plausible to maintain Nasdaq compliance (minimum $1 bid price for 30 consecutive trading days), especially since it’s been trading sub-$1 for a while.
Reverse Split Implications
A reverse split (e.g., 1-for-5 or 1-for-10) would:
Boost the share price (e.g., $0.70 to $3.50 or $7.00).
Reduce outstanding shares (currently ~410 million) proportionally.
Signal potential distress to investors, as reverse splits often precede further struggles—studies show 40-50% of reverse-split stocks delist within a few years, often due to bankruptcy or failure to recover, not privatization.
Amarin’s done reverse splits before (e.g., 1-for-10 in 2008), and it stayed public, focusing on pipeline growth. Today’s situation differs—its core product’s U.S. market is eroded, and international expansion (e.g., Europe) hasn’t yet offset losses.
Going Private: Likelihood Factors
Going private typically involves a buyout by insiders, private equity, or a larger firm, delisting shares from public markets. For Amarin:
Cash Position: With $300 million on hand, Amarin could theoretically fund a buyout itself, but it’d need a clear rationale—like avoiding regulatory costs (~$5-10 million/year for a small public biotech) or escaping shareholder pressure. This seems unlikely while it’s still pushing Vascepa globally.
Valuation: At $250-$300 million market cap post-split, it’s a cheap target for private equity or a pharma giant. However, generic competition reduces Vascepa’s allure unless its European uptake explodes.
Shareholder Dynamics: Activist investors (e.g., Sarissa Capital, with a big stake since 2023) could push for privatization if they see more value in a leaner, private operation. Sarissa’s won board seats but hasn’t signaled this intent yet—its focus seems to be on cost-cutting and revenue growth.
Performance Post-Split: If a reverse split fails to lift the stock (common outcome—reverse-split stocks often lose 10-20% within a year), going private might emerge as a fallback. But Amarin’s leadership has emphasized staying public to leverage Vascepa’s potential.
Odds of Going Private
Short-Term (1-2 Years): Low (~10-20%). Amarin’s still executing a public-company strategy—expanding Vascepa in Europe, Middle East, and Asia. A reverse split would likely aim to buy time for this to pan out, not to exit the market. Privatization needs a catalyst (e.g., a buyout offer), and no suitors have emerged publicly.
Medium-Term (3-5 Years): Moderate (~30-40%). If international sales disappoint and the stock languishes post-split, privatization could become appealing. Private equity might see value in Vascepa’s niche, or management might tire of public scrutiny with a sub-$500 million valuation.
Historical Precedent: Of companies doing reverse splits, only a small fraction (5-10%) go private soon after—most either recover or fail outright. Amarin’s 2008 split didn’t lead to privatization; it stayed public despite volatility.
X Posts and Sentiment
Recent X posts (as of early 2025) show retail investors speculating about a reverse split due to Amarin’s sub-$1 price. Some fear it’s a “death spiral” (dilution, delisting), while others hope it’s a precursor to a buyout. No credible insider leaks suggest privatization, though—just frustration with management and generics.
Conclusion
If Amarin does a reverse split, the base case is it stays public to grind out its Vascepa strategy. Going private hinges on a failure to rebound or an external offer, neither of which looks imminent. I’d peg the odds at 20-30% over 5 years, skewed higher if post-split performance tanks. Without a specific trigger (e.g., a bidder or activist push), it’s not the natural next step. Want me to analyze Amarin’s latest filings or X chatter for more clues?
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Kiwi
JRoon71
24 hours ago
By doing a R/S, they can force out a lot of small individual shareholders, reduce the number of shareholders, and make it easier to get a take-private deal approved. In a R/S, you can opt to "cash out" shareholders with less than a certain number of shares, rather than issue them the new shares.
I think this is why they have essentially abandoned any defense of the company or the stock. They want the stock price as low as possible.
Next week will be the big tell. If they don't articulate a plan, then we know their plan.
Still wondering why the CEO and CFO left?
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