Everyone and their pat hamster knows that TDM1 is going to be approved, and Feb 26th is the target date. Don't be surprised if it happens early either. This news is entirely baked into the stock price right now. There will not be much of a change as a result of the approval. What will move the stock north is when TDM1 sales numbers start rolling in. I imagine there will be a much bigger demand for this drug than the analysts are projecting so sales will ramp up nicely in 2013. Until we see that or a big positive surprise out of their wholly owned pipeline molecules were not moving one way or the other much. So what. If you have the patience then sit tight.
Hamster, BTW you are my favorite IMGN poster...RESPECT! Anyway, I said we've bottomed. I didn't say we are going to rocket higher. I agree that next leg up would be based on sales numbers. But this is a high volatility stock where movements either way are magnified. I am definitely not counting my profits yet, and don't expect to for a year at least. Cheers to you and our fellow longs, who all like a little cure for cancer with their money making activities!
IMGN could easily close the technical gaps to $12.5 - 13.5 prior to approval, or after approval. To return to the $16-18 level it will take a great launch/sales data, or an acquisition, or more progress in the pipeline. Will be paying closer attention to the technicals going forward. The pattern has been large 1-2 month moves mostly in one direction followed by a brief period at the highs, or lows.
Ugh. Famous last words. What you just said coupled with the phrase, "Hey Man, watch this!" Seems to have a statistically significant 95% chance of failure post utterance. Big money is squeezing everyone out of there positions. When they've wrung the weak out we will go higher.
don't have to worry about people selling out to get the 15% tax rate since few IMGN owners have significant capitan gains. Some people still have $5-6 stock from the refuse to file dabacle, with approval coming why selling under $15-16+ seems foolish. If I were short I would want to start covering before Feb approval. The dopes in DC are giving them some extra help, so they probably have until late Dec-early Jan before a rise starts. I would start soon IMO and if I were smart enough to sell stock I would buy or sell puts around this level. Sold some calls that expire today, wish I had sold much more. Lots of worthless long call paper expires today, probably more in Dec. Jan-Feb might get interesting. Back to work, no early retirement for long term IMGN owners in 2012!