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It's All About Anchor

Jul. 09, 2013 9:41 AM ETAMRN52 Comments
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Growth, Value

Seeking Alpha Analyst Since 2012

Today's releases were a net neutral for me. I liked the script update and we will exceed analyst consensus estimates.

The financing amount and timing seem strange. It's not a lot of money -- not nearly enough for self Anchor launch (a good thing) and the only guess I have on 'why now' is to be prepared in worse case scenario should a favorable BO or partnership not materialize - also to get the news out way in advance of Anchor to maintain focus on Anchor during Q3-Q4. A setup like this seems to favor a partner deal, as AMRN would require money to maintain Marine sales and Reduce It development. Just speculation though...

I don't like the equity deal, vs non-dilutive financing, seems to suggest creditors believe AMRN more risky now.

Maintain my $28-32 target and BO.

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