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ImmunoGen, Inc. Message Board

  • bioimmunomabman bioimmunomabman Apr 15, 2013 9:54 AM Flag

    What to expect now

    In the absence of any material news, I expect plenty of tree shaking by shorts, probing for support and net stealth, net covering over the next few weeks. Shorst should know this may be their last and best opportunity to cover. Hoping for a close on Friday around $16 with many good trading opportunities during the week for those who are interested.

    Longer term, I hope the BOD gets active. It's clear to many long term IMGN shareholders that IMGN has one main strength (drug discovery/John Lambert/Tap platform) and that they are weak in overall leadership, drug development, IR/PR and credibility. That explains the difference in valuation between SGEN and IMGN IMO.

    The fix is to either 1) fire and replace Junius and O'Leary and potentially Perry and their Chief of Council who has allowed some questionable, boarderline unethical decisions (insider trades O'Leary and large exec option awards with questionable timing after bad news that led to price declines) or
    2) change the business model to partner early in development, As one of the analysts pointed out at the "shareholder" meeting (debacle) partnering opportunities are abundant and the prices are attractive, or
    3) Auction the company to the highers bidder at the next value inflection point.

    The discussion by Perry about considering monetizing their T-DM1 revenues, or considering a preferred was troubling. These monetization deals come at a high cost and never work in favor of management, the financiers are always smarter than the companies and just the mention of it was questionable judgment. Also, when biotech co's offer preferred stock, financial engineers constantly short and work the stock and the price will get stuck. Both are terrible ideas and not shareholder value, max friendly. All IMO and advice to the company, not to traders.

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