$20Mil is a big deal. Any money in the bank is another quarter without a secondary. They could also use the money for a buy in on the biotest drug.
Impressive upfront considering it's just for a technology; not yet an actual drug. That means big pharma is still very confident of the success of IMGN ADC technology.
to license ImmunoGen’s antibody-drug conjugate technology
Nice bump in stock price on an upfront payment that was not very impressive. Wall Street is squeezing the shorts with this news.
ok so there was a deal with a Japanese biotech called Takeda Pharmaceuticals and they made a deal with IMGN worth $440 million sent shares of immunogen up to their highest point since failed drug trial in December SENT THEM CRASHING but my opinion is this crashing is making new resistance line and it's turning into a bouncy ball. hence what happened today having 17+% gains just today. I believe it's continuing to rise.
No I was long IMGN till it hit my target. Actually way above. I had a sell order in at $ 8.45 good till cancel and saw the news. Moved it to $ 9.10 and locked in $ 1.40 per share profit in less than a week. I don't short stocks put publish my trades as I have partners I trade for too. IMGN is a hold right now till it forms a base at the higher level.
Your premise because Takeda did a deal with AFFY that then crashed Takeda must be a bad company is flawed. The bottom line the negative spin on the deaths probably came out after the deal and the company pulled out of the deal. This is much different from LICENSING a technology for delivery. There is not one drug involved here but the way it is delivered and can be used for multiple uses. Bottom Line IMGN gets revenue from a new partner to add to the list of the rest. And a potential 250 million plus royalties down the road. I am out of IMGN at $ 9.10 and hit my target in one week. I would buy IMGN on weakness but after the run up and short covering today I have now made IMGN a HOLD. It was good too me but your premise is flawed. Takeda was not the issue. It was AFFY and one company pulling out of a deal would not crash a stock like that unless the fundamentals of the primary stock AFFY was flawed. With biotech there is always a risk. Look at Biogen today on the HEP C warnings. But it did not crash the stock. Created a pull back.
Yeah, Takeda is always looking to partner or invest in companies whose drugs kill people. Sounds like a smart business model.
They got this type of deal few months ago and look at them now !!!! U have no idea how good this news is for IMGN !!!! Hold on to your shares longs !!!! Under $9 is a steal IMHO !!!!!
Sentiment: Strong Buy
Here is the FDA recall page on AFFY Omontys - http://www.fda.gov/Safety/Recalls/ucm340893.htm
AFFY had a LOT of other issues and was easy to checkout. If you weren't short, then why be so negative on the deal. Plus IMGN is not a one product company and has other partnerships.
I woke up this morning at 9 am and saw IMGN at $ 9.13 thinking it was the same price as ARIA it did not dawn on me that it was actually up $1.70 from Friday's close. When I saw all the news and read it was up over 20% I put an order in at the open at $9.10 and filled immediately. It went up to $9.23 but $1.40 a share profit is a nice profit in a week. I will advise this board and the ARIA board on my next trade. Surprised the shorts have not pushed this one higher with a 18% short interest. All the same now IMGN and ARIA are running neck and neck. Time to HOLD as I am out of IMGN for the short term.