Amarin Corp Faces Nasdaq Delisting Warning

TL;DR

Nasdaq's about to kick AMRN off the exchange, they're scrambling to fix it.

AI Summary

Amarin Corporation plc announced on November 22, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating its options to regain compliance and avoid delisting.

Why It Matters

This notice could significantly impact Amarin's stock liquidity and investor confidence, potentially leading to a delisting from a major exchange.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq presents a significant risk to the company's market presence and investor confidence.

Key Players & Entities

• Amarin Corporation plc (company) — Registrant
• Nasdaq Stock Market (company) — Listing Exchange
• November 22, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $1.00 — price of the Company's ADS is at least $1.00 per share for a minimum of 10 consecuti

Filing Documents

• amrn-20241122.htm (8-K) — 47KB
• 0000950170-24-130263.txt ( ) — 172KB
• amrn-20241122.xsd (EX-101.SCH) — 32KB
• amrn-20241122_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 November 22, 2024, Amarin Corporation plc (the "Company") received a notice (the "Extension Notice") from the Nasdaq Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") informing the Company that Nasdaq has granted the Company an additional 180 calendar days, or until May 19, 2025, to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). In connection with the Extension Notice, the listing of the Company's American Depositary Shares ("ADS"), each representing one ordinary share of the Company, will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective as of November 26, 2024. The Extension Notice has no other immediate effect on the listing of the Company's ADS, which will continue to trade under the symbol "AMRN" at this time. If at any time before May 19, 2025, the closing bid price of the Company's ADS is at least $1.00 per share 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. The Company intends to continue actively monitoring the bid price for its ADS between now and May 19, 2025, and to continue considering available options to resolve the deficiency and regain compliance with the Bid Price Requirement. These options include, but are not limited to, effecting a reverse stock split, if necessary. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement or that the Company's common stock will not be delisted from Nasdaq. * * *

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: November 22, 2024 Amarin Corporation plc By: /s/ Aaron Berg Aaron Berg President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR