Amarin announces ADS ratio change to meet Nasdaq standards

DUBLIN and BRIDGEWATER, N.J. - Amarin Corporation plc (NASDAQ: AMRN), currently trading at $0.47 per share, today disclosed plans to adjust the ratio of its American Depositary Shares (ADS) in an effort to comply with Nasdaq’s minimum bid price requirement. The pharmaceutical company, which according to InvestingPro analysis appears undervalued, aims to convert each ADS from representing one ordinary share to representing twenty, effective on or about April 11, 2025.

This strategic move, known as the "Ratio Change," is designed to elevate the per share market price of Amarin’s ADSs, ensuring adherence to the Nasdaq Capital Market’s $1.00 minimum bid price rule and maintaining its listing status. The company’s ordinary shares will remain unaffected by this change. The move comes as the stock has declined 45% over the past year, with recent InvestingPro data showing particularly volatile price movements.

On the anticipated effective date, the exchange of every twenty currently held ADSs for one new ADS will be automatic for holders using the Direct Registration System (DRS) and the Depository Trust Company (DTC). However, registered holders with certificated ADSs will need to surrender their certificates to receive the new ratio of ADSs.

Fractional new ADSs will not be issued. Instead, fractions will be sold by the depositary bank, and net cash proceeds, after tax deductions, will be distributed to the relevant ADS holders.

Amarin cautions that while the Ratio Change is expected to proportionally increase the trading price of its ADSs, it cannot assure that the post-change trading price will be equal to or exceed twenty times the pre-adjustment price.

The company, which specializes in cardiovascular disease management and maintains a strong financial position with more cash than debt and a healthy current ratio of 3.23, has not made any guarantees regarding the success of this financial maneuver in achieving compliance with Nasdaq’s listing requirements. Discover more detailed insights and 8 additional key ProTips about Amarin’s financial health with InvestingPro.

This announcement is based on a press release statement from Amarin Corporation plc.

In other recent news, Amarin Corporation plc has announced that Italy’s National Health Service has approved national reimbursement for its drug VAZKEPA® to reduce cardiovascular risk in high-risk patients. This approval makes Italy the third EU5 market to offer national reimbursement for the drug, highlighting a significant step in Amarin’s European strategy. The company has now secured national reimbursement in nine European markets, representing over half of the eligible patient population for established cardiovascular disease in Western Europe. Amarin’s President & CEO, Aaron Berg, emphasized the importance of this development for both the company and patients, supported by strong clinical data from the REDUCE-IT study. Additionally, Amarin has appointed Peter Fishman as the new Chief Financial Officer. Fishman, who has been with the company since 2019, will lead the global finance organization and report directly to CEO Aaron Berg. His appointment aligns with Amarin’s focus on expanding global access and reimbursement for VAZKEPA. CEO Aaron Berg expressed confidence in Fishman’s ability to contribute to the company’s financial and business strategy.

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