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ImmunoGen, Inc. Message Board

  • insidetrack22 insidetrack22 Jan 15, 2013 12:17 AM Flag

    IMGN management are leeches

    Imgn management owns no shares therefore they have no skin in the game. As IMGN approaches approval for T-DM1, price will drift toward the $16-17 mark. Once FDA approves, IMGN management will most likely pay themselves a fat bonus in stock options at the shareholders expense, again driving price down to $12-$14 in dilution. As other products develop in the pipeline toward an approval, again price will drift upwards, but in Phase III, imgn management will again dilute the stock to raise more money to run clinicla trials. In the meantime, IMGN management has voted themselves a generous golden parachute in the event of a takeover as IMGN becomes a powerhouse ripe for the pickin. IMGN managment have no brains, no scruples, and is living fat off the shareholders. The best thing that can happen to IMGN is it taken over by Roche.

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    • Yup, used to hear the same stuff on the REGN board back when the stock was at $6. Now after 25 years, Len is an overnight genius/success. Too funny :-)


    • I would take a drift to $16-17 and then sell some calls (on trading shares not on the core position).

      Agreed, IMGN execs are very self serving. I think they should take care of the scientists that developed and perfected the TAP technology and the scientists who are discovering and developing blockbuster drugs, but the CEO and CFO have nothing to do with the science, which drives IMGN. IMGN execs have not added much value in terms of strategy, partnerships, or M&A.

      IMGN now has over $200MM in cash, so not sure they will need to borrow again any time soon. If TDM-1 becomes the blockbuster many shareholders expect, they many never need to borrow again, but it's too soon to tell, or worry about future dilution.

      I would have preferred to see more than just the one director buy stock with their own money. I may have helped him with timing as I left one, or more messages complaining about IMGN on his phone.

      This could be the year IMGN makes a big move like a REGN or ALXN or MDVN, or CELG of past years, but I said that last year, so don't rely on me.

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