Amarin Corp PLC Faces Delisting Concerns
Ticker: AMRN · Form: 8-K · Filed: May 29, 2024 · CIK: 897448
| Field | Detail |
|---|---|
| Company | Amarin Corp PLC\UK (AMRN) |
| Form Type | 8-K |
| Filed Date | May 29, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: AMRN
TL;DR
AMRN might get delisted - big trouble for shareholders.
AI Summary
Amarin Corporation plc filed an 8-K on May 29, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, with the earliest event reported on May 24, 2024. The company, incorporated in England and Wales, is based in Dublin, Ireland, and operates in the pharmaceutical preparations sector.
Why It Matters
This filing indicates potential issues with Amarin's compliance with stock exchange listing requirements, which could lead to its shares being delisted, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading status and investor confidence.
Key Players & Entities
- Amarin Corporation plc (company) — Registrant
- May 24, 2024 (date) — Earliest event reported
- May 29, 2024 (date) — Filing date
- England and Wales (jurisdiction) — State of incorporation
- Dublin, Ireland (location) — Company address
FAQ
What is the specific reason Amarin Corporation plc is facing a potential delisting?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard', but the specific rule or standard is not detailed in this excerpt.
When was the earliest event related to this notice reported?
The earliest event reported was on May 24, 2024.
What is Amarin Corporation plc's primary business sector?
Amarin Corporation plc is in the 'Pharmaceutical Preparations' sector, SIC code 2834.
Where is Amarin Corporation plc's principal business address?
The company's business address is listed as Iconic Offices, The Greenway, Block C Ardilaun Court, 112 – 114 St Stephens Green, Dublin 2, Ireland.
What is the SEC file number for Amarin Corporation plc?
The SEC file number for Amarin Corporation plc is 000-21392.
Filing Stats: 756 words · 3 min read · ~3 pages · Grade level 14.4 · Accepted 2024-05-28 20:29:40
Key Financial Figures
- $1.00 — the Company, has been below the minimum $1.00 per share required for continued listin
Filing Documents
- amrn-20240524.htm (8-K) — 46KB
- 0000950170-24-065585.txt ( ) — 173KB
- amrn-20240524.xsd (EX-101.SCH) — 32KB
- amrn-20240524_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 May 24, 2024, Amarin Corporation plc (the "Company") received a deficiency letter from the Nasdaq Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's American Depositary Shares ("ADSs"), each representing one ordinary share of the Company, has been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). The Nasdaq deficiency letter has no immediate effect on the listing of the Company's ADSs, and its ADSs will continue to trade on The Nasdaq Global Market under the symbol "AMRN" at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until November 20, 2024, to regain compliance with the Bid Price Requirement. If at any time before November 20, 2024, the bid price of the Company's ADSs closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance with the Bid Price Requirement. If the Company does not regain compliance with the Bid Price Requirement by November 20, 2024, the Company may be afforded a second 180 calendar day period to regain compliance or be subject to delisting. To qualify for an additional compliance period, the Company would need to transfer the listing of the ADSs to the Nasdaq Capital Market and meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second complian
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: May 28, 2024 Amarin Corporation plc By: /s/ Patrick Holt Patrick Holt President and Chief Executive Officer