AMARIN CORP PLC ADSs Face Delisting from Major Exchange
Ticker: AMRN · Form: 8-K · Filed: Jan 26, 2024 · CIK: 897448
| Field | Detail |
|---|---|
| Company | Amarin Corp PLC\UK (AMRN) |
| Form Type | 8-K |
| Filed Date | Jan 26, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00, $1 |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: delisting, regulatory-filing, corporate-governance
TL;DR
**Amarin's stock is getting delisted, expect a hit to liquidity and price.**
AI Summary
Amarin Corporation plc (AMRN) filed an 8-K on January 26, 2024, reporting that its American Depositary Shares (ADS) will be delisted from a major exchange. This means the company failed to meet continued listing standards as of January 25, 2024. This is a significant negative event for shareholders, as delisting often leads to reduced liquidity and investor interest, potentially impacting the stock price.
Why It Matters
Delisting from a major exchange can severely reduce a stock's liquidity and visibility, making it harder for investors to buy or sell shares and potentially leading to a lower valuation.
Risk Assessment
Risk Level: high — Delisting from a major exchange significantly increases investment risk due to reduced liquidity, potential price volatility, and a loss of institutional investor interest.
Analyst Insight
A smart investor would carefully evaluate their position in Amarin Corporation plc, considering the significant impact of delisting on liquidity and potential future stock performance, and potentially reduce exposure.
Key Players & Entities
- Amarin Corporation plc (company) — the registrant filing the 8-K
- American Depositary Shares (other) — the securities subject to delisting
- January 25, 2024 (date) — the date of the earliest event reported regarding delisting
- January 26, 2024 (date) — the filing date of the 8-K
Forward-Looking Statements
- Amarin's stock price will experience increased volatility and a potential decline due to reduced liquidity. (Amarin Corporation plc) — high confidence, target: Q1 2024
- Institutional investor interest in Amarin will decrease following the delisting. (Amarin Corporation plc) — high confidence, target: Q2 2024
FAQ
What is the primary event reported in this 8-K filing by Amarin Corporation plc?
The primary event reported is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' concerning Amarin Corporation plc's American Depositary Shares (ADS).
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is January 25, 2024, as stated in the 'Date of Report (Date of Earliest Event Reported)' section.
What type of securities are affected by this delisting notice?
The securities affected are Amarin Corporation plc's American Depositary Shares (ADS), as indicated under 'Title of each class' in the 'Securities registered pursuant to Section 12(b) of the Act' section.
What is Amarin Corporation plc's business address as listed in the filing?
Amarin Corporation plc's business address is Iconic Offices, The Greenway, Block C Ardilaun Court, 112 – 114 St Stephens Green, Dublin 2, Ireland, with a telephone number of +353 1 6699 020.
What is the company's Central Index Key (CIK) according to the filing?
The company's Central Index Key (CIK) is 0000897448, as listed in the 'FILER: COMPANY DATA' section.
Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 13.1 · Accepted 2024-01-26 07:00:49
Key Financial Figures
- $1.00 — failed to meet the closing bid price of $1.00 or more for 30 consecutive business day
- $1 — id price of the Company's ADSs was over $1.00, and NASDAQ’s letter stated t
Filing Documents
- amrn-20240125.htm (8-K) — 44KB
- 0000950170-24-007688.txt ( ) — 170KB
- amrn-20240125.xsd (EX-101.SCH) — 32KB
- amrn-20240125_htm.xml (XML) — 5KB
01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 25, 2024, Amarin Corporation plc (the “Company”) received a letter from The NASDAQ Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5450(a)(1) for continued listing on The NASDAQ Global Market. Consequently, the Company is now in compliance with all applicable listing standards, and it will continue to be listed on The NASDAQ Global Market. The Company was previously notified by Nasdaq on October 30, 2023 that it was not in compliance with the minimum bid price requirement because its American Depositary Shares (“ADSs”), each representing one ordinary share of the Company, failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. In order to regain compliance with the minimum bid price requirement, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on January 24, 2024, the tenth consecutive trading day when the closing bid price of the Company's ADSs was over $1.00, and NASDAQ’s letter stated that the matter is now closed. * * *
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 26, 2024 Amarin Corporation plc By: /s/ Patrick Holt Patrick Holt President and Chief Executive Officer