Lower highs and lower lows for the past 10 trading days. The total decline is over 7% while XBI is up and Kad was approved in Japan and recommended for approval in the EU. Today's lower low is already in, not that it can't go lower. Inability of IMGN to break out (like SGEN and CLDX) and break the shorts through fundamental developments, pipeline progress if highly annoying for the long term shareholders and why I have repeatedly called for the removal of DJ.
IMGN has 10+ products in the pipeline when including partnerships and no significant new clinical news/developents has been reported all year other than from Roche/Kadcyla. How does that happen, a full year without reporting any new, significant clinical progress? In fact, 901, has gone backward. IMGN's BOD must get involved and hire the leader IMGN needs to move the pipeline and partnerships forward.
I think we saw the first sign of a reversal- it hit a temporary low at 16.28 and then reversed and ended positive on a day when the rest of the market was down. I think that shows unusual strength for this stock. I am glad to see that there's more shorts in this now, it adds better support at this point and indicates to me that we will cross 20 because of the additional buying that they will do over 18. I added a tiny bit when it hit 17.22 on the way down, and then really added today at 16.44 on the second dip in the afternoon.
I think we'll see a bit of a rise in the broad market tomorrow if the senate doesn't F things up somehow, and that will carry IMGN up.
looks like IMGN might be sold out and trying to make a stand and have a key reversal. A positive close would help stop/ reverse the recent downtrend. SGEN is up today and over-hyped CLDX is starting to correct finally. Bought a small put spread in that bloated pig yesterday...oops the dogpig is starting to affect me.
the timing of clinical progress is difficult to predict, but with 10 compounds in development, some time over the next year, something positive is bound to happen in spite of IMGN's weak leadership. Hopefully, the IMGN BOD is paying attention and the firing of GG was just the first step. If IMGN hires a new CFO and no new CEO, that will be troubling to me. We need to keep the pressure up on the IMGN BOD to take shareholder-friendly action!!!