Message for Annual meeting (please read and respond)
It's time for the current CEO and CFO to go, mid $13's and going lower is unacceptable. Time to contact the BOD before the annual meeting. Anyone have their email addresses? If not, many are accessable on Linked-in.
Let's formulate a list of complaints? In addition to poor stock performance, dilution, management's large option grants, lack of business development other than the LLY deal, lack of the progress with the pipeline, all of Roche's new ADC business is going to SGEN...looking for more.
IMGN historical events clearly show IMGN management want to keep IMGN price low through a series of stock dilutions. Lousy deal with Roche also clearly shows management conservative management style to accumulate and conserve capital rather than aggressively growing revenue. As a result, IMGN stock price has been lingering and spinning in the wind with no real catalyst. Based on IMGN stock price failing to gain traction at the expense of shareholdres, shareholders have the right to demand the following: (1) Replace current management with a management team focused on growing revenue (2) Tie management incentives much more heavily connected to IMGN stock price performance (3) Replace current business development entity with a more seasoned and aggressive business development manager to strike better deals and more partnerships with other companies leveraging TD-M1 platform (4) with every dilution in stocks there should be an announcement to pay dividends which will drive up shres of each stock and at the same time raise more capital for IMGN (5) Beef up regulatory affairs team to capitalizing in Europe.