(1) T-DM1 approval on Feb 26th
(2) Possible takeover target
(3) Accelerated pipeline development
(4) More milestone reached with partners
(5) EU approval in 2013
(6) Over $200MM cash (about 8 years of operating cash)
A price of $15 is a joke. Institutions are holding on to IMGN. IMGN i sa loaded spring ready to pop. Anyone sold on earnings is very short sighte dsince IMGN value is not about revenue but about TAP technology and products in pipeline.
100 share trade in premarket, likely a short ploy, but offer is 1000 shares at 14.87, so likely to open lower. JIA, $200MM is more like 2+ years of cash unless they do some licensing of the up and coming compounds, or T-DM1 ramps quickly. Clinical trial costs will be rising. I hope execs will be patient and wait to see what revs from T-DM1 look like before deciding on another offering, but they love offering new shares. I also hope that if/when they do the next offering it will be at higher prices and smaller in size 5MM shares. Predicting IMGN's stock price is never easy, so expect volatility and shake outs.