Recent updates in the dosing patent litigation between Amarin (AMRN) and Hikma and Reddy's show the sides have been progressing and both cases were moved under the same judge in Nevada, Jefferies analyst Michael Yee tells investors in a research note. The analyst believes uncertainty around the ongoing litigation presents a risk for investors and that there is a perception on the Street that the cases impactsany potential acquisition transaction for Amarin until there is clarity. With Judge Du setting a trial date for January 13, 2020, at least a timeline for one of the two major cases is known, Yee writes. He believes a potential "key catalyst" could be a settlement beforehand. The analyst continues to think another settlement, like the one Amarin reached with Teva (TEVA), and removal of the overhang is "likely in time and is a win-win for all parties." This "could be quite important" for Amarin shares, says Yee. He keeps a Buy rating on Amarin with a $30 price target.

Amarin Corporation announced shareholder approval of all proposed resolutions specified at its 2024 Annual General Meeting. Importantly, shareholders approved each of the two proposals required for the Company to proceed with its previously announced intent to pursue a share repurchase program of up to $50 million. This permits the Company to request U.K. High Court approval, as required under U.K. company law, and if approved by the U.K. High Court, commence the share repurchase program by the end of the second quarter of 2024. As part of the Annual General Meeting, shareholders also approved the following resolutions: Re-elected Mr. Patrick Holt, Mr. Louis Sterling III and Ms. Patrice Bonfiglio as directors of the Company; Approved the compensation of the Company's "named executive officers" as described in full in the "Executive Compensation Discussion and Analysis" section of the Company's definitive proxy statement; Approved the appointment of Ernst & Young LLP as auditors of the Company until the conclusion of the next general meeting; Approved the proposed amendment to the Company's 2020 Stock Incentive Plan; Authorized and approved the amended and restated articles of association to require all directors to retire and seek re-election at each annual general meeting of the Company.