Just prior to the anticipated TDM-1 approval (the greatest breakthrough of all times), IMGN sinks to an all time low. EMILIA data shows significant survival and safety data supporting a strong FDA approval. Every time IMGN shoots up, management and analyst brings it down for institutional managers to buy up. In recent trades, fund managers have actually increased their IMGN positions. I wonder which fool is parting with IMGN right before the pay off.
Maybe give them a little credit for the timing. When the drug gets approved, stock will fly high. This validates the entire ADC approach. A few million of decreased royalties is not going to hurt this company in the long run. It's just the short time attitudes of analysts (Hell if they cant calculate month to month EPS _ then they have no job security). If the drug had gotten approved and then the royalty news came out, the pain would have been a lot worse and more would be screaming for the heads of mgmt. The timing for this announcmeent was very smart!!!
good call, I pointed out that over 500 traded the day before the announcement, probably a client of a certain firm that knew the details in advance. 100 traded so far today. Biotech is gettiing another beat down. The profits evaporate quickly in this industry. No new 52-week low...yet today, but very close.
Not parting with shares, no margin, but IMGN/BOD needs to part with Dan and the shareholders need to take action. Contact Dan and the BOD and tell them we need action NOW! Nearing the 52-week low, unbelievable!