Since IMGN is not having a capital issue, CFO Perry's resignation with benefits clearly points to CFO being forced out and that new management initiatives is being put into place. Every sign points to a takeover. The last to go will be CEO Junius and thus IMGN can start a new chapter of achieveing success. My message to CFO Perry: Thank you for years of diluting IMGN stock to support poor management skills. Time for you and the rest of management to move on to screw up some other company.
I think something will happen this year with respect to IMGN ownership. Either a huge equity partner will come in or it will be bought out right by one of the big pharmaceuticals looking for future growth. Just like what happened to ONXX!
not sure about a takeover, clearly someone thinks more bad news is coming, or shorts are taking advantage of the communication void. Let shorts have their fun, owners know there's value here, we just need a successful leader to help John Lambert's team realize the power of the platform and the value. We need Tony Coles for CEO! Current price looks like a take under!
I do believe the CEO was asked to leave. My speculation is that perhaps he just spoke out of turn at the investor update when he talked about monetizing Kadcyla royalties. That would have been spectacularly stupid to do. That might have completely caught people on the BOD by surprise. Junius was equally horrible in that update as well. They were not prepared to answer the obvious questions around 901. How hard can it be to just do the books at a little biotech company like this, and be a part of a secondary offering each year. Something is brewing here. I will further speculate that Junius has actually been moved over to the CFO spot and they will fill his shoes with a more qualified CEO. Perry was the fall guy.
I will do the CEO job for only $500K in salary and 25% of the stock options you gave Junius. I will even pay for my own car and house, but I will need the relocation assistance to the east coast. You biz development guys better have something to show me when I get there.