Dilution is a necessary evil with biotech. It's a costly high risk/reward business. IMGN becomes de-risked with TDM-1 approval and this machine will start to generate cash. Not many drugs make past phase 3, amny biotech failures. Ability to consistently raise money is sign of belief and confidence in IMGN ADC platform. My biggest concern is an acquisition before the instrinsic value is fully realized.
Anyway, chart looks strong through this tax selling and fiscal cliff risk off trading environment.
Looking forward to ASH this weekend and Oppenheimer next week.