Looks like IMGN is a buy on dips now, $17.5 is the next critical level. It's frustrating to see stocks like CLDX and SGEN kicking IMGN's rear in performance and market cap, especially CLDX which has not proven their technology as far as I have seen. Hopefully patience and agitation will eventually be rewarded in a big way. Shorting IMGN seems really ignorant unless one is managing a hedge fund that's long SGEN and CLDX and short IMGN.
many investors are growing impatient. I have emailed (through linked-in) multiple members of the BOD several times this year asking for a change in the executive management of IMGN. They never respond, but we did get one change and I am hopeful, more change is coming. IMGN should have updates on most of their 10 compounds (internal and partnered) over the next year except for the most exciting 289. I am hopeful 289 will eventially achieve breakthrough status, but that might require a very well defined patient population and diagnostic, which has not been a strength for IMGN. You have to decide if you are an investor, or a trader. If you are a trader, follow the technicals and trade it. If you want in interesting biotech that appears to be a "value" with limited downside (due to Kadcyla) and strong upside potential, IMGN is the best candidate I know about.