Self-serving schmuck. Royalty rate not his fault, though. I hope they have learned some negotiation skills now. Bless the IMGN scientists who worked so hard and smart to bring us this revolutionary technology.
sorry folks, have to keep this up near the top until IMGN is either sold, or the price recovers to at least $13+ Shareholders should be contacting management to make sure Dan and Gregory do not take more low-priced stock options. Stealing is a crime, apparently robbing the shareholders of a public company is not!
Funny how a pigger takes absolutely no responsibility whatsoever for his own decisions which are ALWAYS driven by piggerpig greed. While you were oinking out the benefits of BUY-BUY-BUY!! at any price to unsuspecting snorters, you could have sold over $18 bucks as a giftHORSE, but instead you have SQUEEEEEEEEEEEEEALED as this historic POS screws yet another huge group of piggers. But you can fire the two numbnuts anyway just because they are piggers too.
I'll bet Dan can't wait to take advantage of the new low prices for new options grants. Need to keep the heat on so he does not dilute shareholders again any time soon. Typical #$%$ late Friday filing of the voting results.
Down again looks like another test of $11. I guess the dilution measures passed and nothing positive came out of the shareholder meeting. Shareholders need to stand up for their rights, contact the BOD members, #$%$ them off until they do their job! I am sure the large institutional investors are making their displeasure known, but it can't hurt to have retail shareholders add to the BOD's sense of urgency.
I second the motion and want to keep this post on top. How many of you shareholder/owners are taking any action, calling the company, contacting BOD members, emailing the execs. BOD members don't like to have their spare time taken up answering to shareholders and don't like the idea that failing to do their job can put them at legel/financial risk. Sometimes they need to be reminded that their responsibility is to the shareholders.
Bio, here is my take now on what happened. The company, or rather its leadership, re-conceived itself, from and R & D company that would make its money from licensing, to a pharma company, of course making money selling drugs. Maybe the bitter pill of that low royalty rate, watching Genentech/Roche rake in several billions off of IMGN's technology, while IMGN gets a tiny fraction of that, finally pushed IMGN leadership into scheming up a different business model.
Meanwhile, Junius plays it cool, says to the investment community, "we won't be doing any more financing for quite a while" and, I hate to say, fakes out everybody, from us faithful little retail guys to the institutions, so to get the most money for the least dilution. They really did need and want all that money because developing and then selling drugs on your own takes sooo much more money than running an R&D shop. I'm #$%$ at Junius because I hate to be faked out and lose a big chunk of my life savings, but I am not the only one--I get the feeling that maybe even the big boys, like the 'tutes who bought at 16, feel that maybe they shouldn't trust Junius at his word any more either. The good news, if you can call it that given the now much extended time frame to profitability, not to mention the added risk (DNDN), is that hopefully IMGN will become a big player like Amgen and get to keep the money for Junius, I mean the shareholders.