I had a lengthy conversation with a scientist working on a diagnostic test that will be working towards IND in the future. I asked her lots of open ended questions about her work with the hope to gain an understanding of what might be happening behind the scenes at IMGN (even though her work was not related to IMGN).
She told me her company is still years away from filing the IND, so FDA approval is still many years in the future. Many people are not aware of the volume of documentation involved just for taking a blood sample from a number of patients so it sounds like all the behind the scenes stuff is just lost to documentation and lab studies, perfection of the process prior to FDA testing (since the FDA tests the finalized product/process, there is no tweaking once you are in trials).
My best guess for my 25-30 years of holding IMGN at least 15 years were lost to just perfecting the platform, the linkers, the toxic payloads and finding the targets. If a simple blood test can take 10 years or more (with DOD and large private company backing) a far more complicated and potentially toxic ADC must be much more difficult.
I suspect oleary is leaving the company to make room for poole's appointees.
Most executives will bring in their trusted staff to help out becuase they understand that they didn't rise to the top based soley on their own merits.
I've seen it many times. I just hope the company's stock price goes up very soon.
Was hoping I would get called out today at my 13.00 strike price. I'm still in this stock and over leveraged.
Received email from IMGN. It' s an 8K filing that was filed this morning.
where did you see this? If so, good for them (finally) and they need to keep on going. There are too many VP/SVP hanger's on that are doing nothing to enhance shareholder value. Maybe Bus Dev will be next. I can think of a few more ppl I would replace for sure...
O'Leary quits for personal reasons. Charlie Morris assuming his responsibilities. Bioimmunomabman did you chase him out with all your rants?
see the new 8k posted on the Nasdaq site. These people have no shame and no clue about their responsibility to the shareholders. CEO, IR, Bus Dev, most of the BOD are dead wood and need to be replaced. IMO of course.
IMGN's big news is they hired another new SVP. Sutro, SGEN actually have deals, drug news, clinical developments. Almost another year has passed with NO NEW significant drug development or deal news from IMGN. WTH are they doing there???
Just to spell it out for the less technical folks. tdm1 appears somewhat effective in treating people who have breast cancer metastasize to the brain. This is significant because traditionally, it has been difficult to get across the blood brain barrier.
For women who get the stage 4 metastasize, this could be huge news because there is no way to manually cut out all the tumors in your body once it has spread throughout and the brain is one of the most difficult places to search for and cut out a tumour.
This cannot be emphasized enough. it is a pretty big deal.
You can read more by visiting the IV board. Excellent results for TDM1 in patients with Her+ cancer that has spread to the brain. Another potential revenue generator the is not getting any attention, or IR.
This prospective case series again indicates relevant clinical activity of systemic treatment in Her2-positive BM. LapCap remains the standard of care but results of this analysis warrants further investigation of T-DM1 in BM in the context of prospective clinical studies."
Apologies, after reading a story from the IV board, I see Sandra was a problem fixer at Genzyme, so a rare good hire by IMGN. As another IV board poster stated, "good hire, now let's get rid of some of the dead wood."
I read many stories on the IV board that seem far more material than IMGN hiring another exec. This company is the most top-heavy, non-productive company with no successful phase II trials in the history of biotech. Genzyme has a history of significant mfg/production quality issues, it's not the first company I would search for manufacturing talent.
yes, I recall not long ago NPSP was a $5-6 stock going no where fast, now 5-6X. I sure wish IMGN could do something similar. Some day...next year...
I like the structure on this, small up front, just $11MM, but they can trade milestones for higher royalty going into phase III, but no clinical development cost responsibilities like IMGN would have with BT. Overall, this is good for ADC's since it shows continued interest.
According to the IV posters the last presentation went better, but I have not listened to it. Anyone know when IMGN will present some new human clinical efficacy data (more than just a few patients) from the pipeline?