I think it has been rather well behaved so far- I was hedged over there. Maybe a little more on the downside from here and than another meaningless/tradeable run-up in Aug. I'll be hoping for another good entry point early next year. If IMGN prices higher than SGEN I may trade back that half. I'm happy here for now.
I also think if the short squeeze ever takes hold in sgen there some serious cash to be made. Short % of Float (as of Jun 30, 2011)3: 26.30% % Held by Institutions1: 89.10% Total Cash Per Share (mrq): 3.89 That alone gives this stock support
Hoping for the tradable event black picked up a little at around 17.70 keeping my core. Also dipped back into amgn for a run up to 58-59, looks safe to sit on with all that cash, picked up 4 or 5 points back in may when they announced divvy. Sold the imgn shares I bought on the last offering today caught 15.70 :)keeping the core waiting for the dips, traders market right now.
I would expect general chopiness until next year. Then there will be a lot of trial data coming in that can get it going again. The P2 trial for CLDX's drug, the P1 for SGN-35 in front line (and start of a P3), Millenium's MAA will bring milestones and royalties, and at least a half dozen licensed products will be wrapping up P1 trials.
I imagine the actual PDUFA date for -35 will be relatively mild, and revenue will not be large enough to drive the PPS.