At under $3.90, IMGN is less than 2X cash with NO debt, 4 trials going with MORE to be started this year. Results of 2 trials are expected in the fourth quarter. Impressive to me is the fact that the BVF(Biotech Value Fund), which use to own a TON of stock in the mid-90s having bought the convertible bonds and later sold, just BOT 1.3 MILLION shares last quarter at prices around $3.95-$4.25. They know IMGN VERY well. With the pounding of the stock market in general, the Biotech Group has come down with it, and with no news, IMGN has as well.
Another BIG clue to me is the CEO Message which normally follows the quarterly earnings release by a day or two has yet to be released (The third quarter report was on May 4). It looks like something VERY SIGNIFICANT is about to happen that the CEO really wants to talk about.
IMGN is going out to tell their story over the next 8 weeks. But, it's NOT only IMGN. The PARTNERS are also showing up in presentations world-wide to tell of the advancing science that is leading up to trials for their partnershipS (plural on purpose) with IMGN.
Sorry for posting this to the people that are waiting for under $3.50, but I'd rather be an owner here than watch it going back up and be saying, "Well, there was another opportunity I missed."
"Sorry for posting this to the people that are waiting for under $3.50, but I'd rather be an owner here than watch it going back up and be saying, "Well, there was another opportunity I missed."
Don't be sorry as that may be very good advice. The biotech indices and general market have been beaten up lately and timing a purchase is largely a crap shoot. The market is having a nice rebound today but I need some more confirmation. I may nibble some on the next down day but I'm still hoping for even better IMGN prices post ASCO during the summer as that will be a little wait before the trial results are due.