By Roche by end of this year ? There are some analysts who believe it would be surprising if imgn doesnt get acquired by end of 2013 especially after the FDA approval.What are our real chances here and any relastic buyout target?
Pfizer's (Wyeth's) ADC is a disaster; BMY also stopped an ADC trial. These companies will either have to buyout IMGN or SGEN and their ADC technology and antibody pipelines, or pay to use the tried and tested ADC technologies. IMGN pps is cheap if buyout happens this year. I would rather have that happen next year or in 2015 for not less than $40 pps; $80-100 would be much better. For now, I'll be contented with ending the year at $19-20 pps.
It's really impossible to say. I think IMGN is in a better position to be acquired over the next 12-24 months now than SGEN because they have opted to do fewer partner deals and more internal development. Ideally, IMGN execs( and shareholders would want to move some of the early stage compounds to a value inflection point before striking a deal. If the phase I molecules start to show some strong data in phase II in 12-24 months, IMGN could be worth 2x or 3x the current value. If the earlier compounds continue on the slow road to no where like 901, investors may force the issue and we could get a lower priced deal sooner.
A few months ago, I would have agreed with the govarna that SGEN is more ripe for the picking, but they are doing more pratnering deals and seem to be positioning for the long term where IMGN is going in a solo direction.