Hi Chief, new to the board, but have followed and been in and out of IMMC for a couple of years. I have amasses a position over the last several months because I believe in the technology as I know you do. Unfortunately, I'm losing my patience with managemant and was wondering if you would give your opinion on why this important announcement, that was quarters overdue wasn't trumpeted to the market by management ? Not even mentioned on the comoany website. I look forward to heariong your thoughts and I appreciate the quality and intergrity of your posts. Have a Happ Thanksgiving.
Hi Med, Sorry to just get back you and my fellow tribes men and women gathered at the investor's fire.
I believe your frustrations for how quickly CellSearch CRC FDA approval was received are shared by IMMC's mgmt team. However, FDA approvals currently reside with IMMC's marketing partner. More rapid approvals would occur if that responsibility were solely in IMMC's hands, a situation that could change in March 2008, as I am sure you are aware from following IMMC's Q108 date with current partner JNJ.
Nonetheless, the FDA approval is a great coup and success, offering further validation of Immunicon's key product/service/technology for monitoring and guiding oncology treatment in metastatic: breast, CRC, and soon prostate cancer.
I also believe that Immunicon's management team have been keeping very, very busy aligning its strategic and marketing ship for its end of 2007 and full year 2008 strategy. As eluded to in the investor's call, I expect we will hear of more pharma deals before year end, if I heard correctly on the call. I will have the investor's call transcript by Monday of next week, but it would behoove you to listen to the Q307 investor's call online, if you haven't already.
I share your frustration with the present stock price, but I believe a very good buying opportunity/value proposition is on the table today, witness the 400K + shares traded today @ 1-1.10 today, no lack of buyers to take those shares.
Are you taking a risk, sure, but the upside is IMMC's technology alone has a high market value to many potential suitors in 2008 and beyond. The upside of a successful, full thrust marketing campaign in 2008 for CRC, breast, and prostate is shaping up very nicely.
Thanks again for the words of wisdom and patience Chief. While I wasn't expecting a huge move from this announcement, I beleive that if the timing was better we might have seen better follow through this am. Having played many of these companies for years, I am pleased with their decision to change their startegic partner as it is not uncommon for the first choice to be more interested in keeping a product just viable enough to prove it's validity,but not profitable enough to make the innovative company to expensive to buy. As for the conference call, I was hoping for your take on Byron's reliance on Veridex when asked what the feedback back from the Docs in the field was. You've been kind enought to post your anecdotal evidence to support the platform, why couldn't the companies CEO do the same? Anyway, nice to see a 400K day, obviously there is still a large seller but also a continued accumulater as well. All the best Chief, thanks again for your insights.