If nothing else, the decisions by Zakrzewski, Thero and Gordon to sell Amarin stock at prices ranging from $13 to $14 per share, according to regulatory filings, might set a near-term price ceiling on the stock absent positive news from the NCE status decision expected next month. After all, Amarin insiders believed the company shares were rich enough at $13-14 per share to warrant big sales, so why shouldn't outside investors feel the same way?

This was certainly the case for Vivus, where insiders also sold about $12 million in company stock at prices ranging from $25-28 per share in the month before FDA approved the weight-loss pill Qsymia. Vivus shares closed Monday at $22.28, having fallen about 24% since the approval decision.

Amarin executives Joe Kennedy, Paul Huff and Stuart Sedlack also sold smaller amounts of company stock on July 27, according to regulatory filings.

--Written by Adam Feuerstein in Boston.

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Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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