Amryt Pharma Share Discussion Threads

[whatno] 23/11/2021 15:28

If FDA/EMA approval is forthcoming end Feb '22 then Amryt will still pay out around 66% of the original max amount (of $50M). The revenue CVRs ($35M) are dependant on future annualized sales - there is no date limit on the payout.

Obviously, if Filsuvez approval were to be denied completely by EMA/FDA then that would not be great. However, it would not be a company breaker. They have Mycapssa from the Chiasma deal, Metreleptin for PL (US), and potentially use of the Chiasma oral platform for lifecycle management - oral Metreleptin being one candidate. A potential 20 year patent for oral Metreleptin would represent a very valuable asset.

[papillon] 23/11/2021 14:41

I have an idea my 15,000 CVR's will end up worthless. I hope not, but it's possible.

[papillon] 23/11/2021 13:14

I've sold. Only had 2,000 shares. Took the loss on the chin. In 5+ years the share price has gone nowhere.
Nasdaq price is well down pre market.

[waterloo01] 23/11/2021 13:09

Not great for the CVR's. Not clear what other information they have requested nor how fundamental are the questions.

[alphabravo321] 23/11/2021 12:55

I see a number of firms such as Janssen have received similar treatment with a number being kicked out to Feb 28th

[whatno] 23/11/2021 12:54

yep. so a 30% haircut for FDA CVR holders.

[digadee] 23/11/2021 12:47

FDA approval US$35,000,000 upon FDA approval 100% of the amount due if approval is obtained before December 31, 2021, with a sliding scale on a linear basis to zero if before July 1, 2022

[whatno] 23/11/2021 12:33

I assume the FDA must recognize the pressing need for a treatment which is why they didn't simply issue a complete response letter (CRL) and ask Amryt to start over. 3-month extensions to PDUFA are not unusual and probably signify that they are mostly but not quite there...

[whatno] 23/11/2021 12:30

Disappointing for CVR holders - Amryt would pay out less on approval. Ironically, this may be good for shareholders are they would retain more of any windfall cash for a PV sale.

[waterloo01] 23/11/2021 12:23

That's a pain but fall should be limited due to revenues.

Amryt’s previously issued revenue guidance for FY 2021 in the range of $220M - $225M which represents growth of 20% to 23% on FY 2020 is unaffected by the new regulatory timelines.

[punter6] 23/11/2021 12:23

So we're gone to 28th February 2022 now for potential FDA approval,if they're satisfied with Amryt's answers to their queries.

[bermudashorts] 23/11/2021 07:33

PJ84 - thanks for above.

[pj84] 23/11/2021 00:16

Should have checked before posting above but looks like I can trade Amryt ADR's within my HL SIPP.

[pj84] 22/11/2021 23:54

Bermudashorts Like you I would like clarification regarding the CVR's.

From what I can see they are dealt with under Part 4. of the admission document



The CVR's currently confer no equity rights which I suspect is why there is no information in the context of the delisting. If a CVR event is confirmed the company can issue shares or a loan note.

Amryt is currently responsible for maintaining a register of CVR holders and I presume that will remain unchanged as part of the delisting.

If subsequently a CVR event occurs and Amryt decide to issue shares, I presume we would need to convert them on a 5 to 1 basis for ADR's (and maybe like now there might be a block scheme for a short while.)

Hopefully there will be some clarification from my SIPP broker HL shortly.

I recall previously being issued with ADR's listed on Nasdaq (can't recall now which company) but which I was able to hold and trade in my SIPP, however, more recently I held shares in GPWH which was taken over by Jazz pharmaceuticals which issued ADR's listed on Nasdaq but as they weren't listed on Crest HL was unable to trade in them and I had no choice but to sell before the ADR's were issued, and I fear history may be about repeat itself although I hope not.

[punter6] 22/11/2021 15:53

It's not uncommon for Irish companies to list in NASDAQ.

As an Irish investor myself I did well out such companies in the past such as Esat Digifone,ICON,etc.

[papillon] 22/11/2021 15:08

Very big volume so far today on Nasdaq.

[papillon] 22/11/2021 13:52

Down to 10.90 (-5.95%) pre market on Nasdaq.

[gnnmartin] 22/11/2021 10:35

I expect that UK small shareholders pay more to hold and to trade ADS, so I'm not surprised that UK holders are selling, but the drop is overdone. I'm amused that shutting down AIM will increase liquidity. I hold other AIM shares that take out an OTC US listing to increase liquidity. :-o

I think the stock exchange might have insisted that AIM shareholders received some small compensation for the change.

[papillon] 22/11/2021 10:30

I just purchased another 1000 shares as I don't think today's news will adversely affect the Nasdaq price.
The big news will come at the end of the month.
PS Delisting from AIM will save the company cash. Are they that short of cash? That's the only negative side to today's news that I can see.

[papillon] 22/11/2021 10:22

I don't suppose American investors will give a toss, bazworth. Today's news is not surprising. I've been saying ever since they listed on Nasdaq that it's now an American company that's still headquartered in Dublin, no doubt for tax reasons.
You've got 2 months to make up your mind what to do.

[bazworth] 22/11/2021 10:08

all47fish

Only a daft theory but, fundamentally, nothing has really changed with regard to the company itself. I think that the sales are from those investors who do not want to transfer their shares to ADRs, hence the drop in the share price on AIM. I wonder what will happen this afternoon once the NASDAQ opens?

[ali47fish] 22/11/2021 10:04

if this delisting is good as the company indicates why the retrace In the share price - why is the market not liking it? it does 'nt make sense- can someone with knowledge of these matter explain please!

[richpassi] 22/11/2021 09:45

Totally Agree