Sorry um little princess, but IMGN currently has plenty of cash. Never say never with IMGN, they might want some more cheap options and therefore dilute again, but currently there is no need for cash. I hope they never decide to develop a drug past phase I/II and look for partners early because they have not been successful developing and they can't even determine optimal dosing after many years with 901. IMGN's strength is discovery and preclinical development/Tap/John Lambert. They should focus all of their resources on their one strength, downsize other areas to cut the burn and partner early in the process, or sell the company IMO.
I vote for SELLING the company. IMGN has no leadership, no direction and most upsetting is they possess a groundbreaking technology that is obviously in the most INEPT hands. It's blasphemy. Can you imagine what a qualified researcher like Sam Broder could do with IMGN? Also, the pattern of questionable insider trading is worth alerting the SEC to. An email takes 3 minutes.
BTW, I am still reeling from that awesome "Investor Day". Thanks for that. Stock from $18 to $14, super.
Don't know Sam Broder, but their issue is not with research, that's top notch, the problems are in development and leadership/decision making. I see 3 options 1) sell the company (in an auction, not an insider buddy deal) 2) go back to the partnering model and get out of the development business 3) fire Junius, O'Leary and the Corp Council who allows this unethical activity and hire the right people to properly develop drugs and manage the company. The new development hire seems OK, but I am not sure he's world class like the people at SGEN, CELG, DNA, REGN, etc.