Amarin Stock Price, News & Analysis

Amarin Corporation (AMRN) is urging shareholders to vote against Sarissa Capital’s proposals ahead of the General Meeting on February 28, 2023. The board emphasizes that Sarissa's attempt to remove the Chairman could harm shareholder value. Leading advisory firms ISS and Glass Lewis support Amarin’s position, endorsing the current board's expertise in crucial pricing and reimbursement negotiations. The board claims Sarissa's nominees lack experience and their record indicates significant negative returns. Amarin asserts a turnaround strategy is underway, focusing on enhancing long-term value for stakeholders.

Sarissa Capital Management has released a presentation urging Amarin shareholders to vote for change during the upcoming shareholder meeting. They emphasize the importance of Vascepa/Vazkepa in reducing cardiovascular events but criticize Amarin's management for poor capital allocation and mismanagement, which they believe is devaluing the asset. Sarissa proposes a slate of qualified candidates who previously turned around a similar company. Shareholders are encouraged to vote 'FOR' Sarissa candidates and the removal of Chairman Per Wold-Olsen before February 21, 2023, to ensure their vote counts for the meeting on February 28, 2023.

Sarissa Capital Management expresses outrage over Amarin Corporation's alleged misleading statements during the proxy contest. Sarissa claims these inaccuracies aim to sway shareholder votes against their nominees. Holding over 25 million shares, Sarissa emphasizes the destruction of shareholder value under Amarin’s current leadership and urges fellow shareholders to support their proposed changes. The voting deadline is set for February 21, 2023, ahead of the General Meeting on February 28, 2023. Shareholders can vote using the blue or white proxy card, ensuring all 'FOR' boxes are marked.

Amarin Corporation plc (AMRN) has issued a statement correcting misinformation released by Sarissa Capital Management. Contrary to Sarissa's claims, Amarin confirmed that its registrar is accepting all proxy cards for the upcoming General Meeting of Shareholders, adhering to standard practices in contested solicitations. The registrar notified Sarissa eight hours before their release that all proxy submissions, including Sarissa's blue card, would be accepted. This clarification emphasizes Amarin's commitment to all shareholders and contradicts Sarissa's narrative, which appears to prioritize its own interests over those of Amarin's broader shareholder base.

Sarissa Capital has raised concerns about Amarin's handling of proxy votes, claiming that Amarin's registrar was not instructed to accept blue proxy cards as required by law. This situation is viewed as an attempt to disenfranchise shareholders. Sarissa, the largest shareholder with over 25 million shares, has ensured that all votes submitted on the blue proxy card will be counted. They urge shareholders to vote 'FOR' their nominees and the removal of Chairman Per Wold-Olsen by the February 21, 2023 deadline. Sarissa believes that Amarin requires significant change to unlock its potential.

Sarissa Capital Management expressed concerns regarding Amarin Corporation's recent shareholder engagement webcast, deeming it tone-deaf and lacking accountability for poor performance. CEO Karim Mikhail asserted that the company met its objectives despite shareholders losing over $840M in 2022. Sarissa highlighted discrepancies, such as Mikhail's $5.8M compensation amid a 31% stock decline and Chairman Per Wold-Olsen's $1M compensation during a 64% value loss. Call for shareholder support to elect Sarissa nominees was emphasized, with the proxy vote deadline on February 21, 2023.

Amarin Corporation plc (NASDAQ: AMRN) announced a live webcast on February 14, 2023, from 8:00 a.m. to 9:00 a.m. ET. Members of the Board and management team will address shareholder questions regarding the company’s strategy and operational improvements. Shareholders can submit questions in advance. The upcoming General Meeting of Shareholders is set for February 28, 2023, with record shareholders entitled to vote. Amarin urges shareholders to vote 'AGAINST' all proposals on the WHITE proxy card. Voting deadlines vary for ADS and ordinary shares. For investor assistance, proxy solicitors are available. More information can be found at www.voteamarin.com.

Sarissa Capital Management LP has issued a statement regarding Amarin Corporation (NASDAQ: AMRN), accusing the company of wasting shareholder capital. Amarin plans to spend over $7 million to block Sarissa from board representation, which is significantly more than Sarissa's planned expenditure. The statement highlights past financial mismanagement, including substantial compensation granted to executives despite significant stock declines, totaling over $1.4 billion in shareholder losses in 2021 and 2022. Sarissa advocates for shareholder action to remove Chairman Per Wold-Olsen and supports change in leadership.

Sarissa Capital Management has issued a letter urging Amarin shareholders to vote for significant changes at the company, including the appointment of new board members and the removal of Chairman Per Wold-Olsen.

They criticize Amarin’s leadership for poor performance, highlighted by a 64% decline in stock price in 2022, equating to a loss of over $840 million in shareholder value. Furthermore, Sarissa points to management’s ineffective market strategies and lack of shareholder engagement as contributing factors to Amarin's failure to capitalize on its valuable asset, Vascepa/Vazkepa.

Sarissa urges action before the February 21, 2023 voting deadline to prevent further value destruction.