Closing at $14.57 is a joke for IMGN. The high for the year was over $18.00 which shows before approval investors think the stock is worth much more. Selling on the news created a price that is not realistic to it!s accual price. I could see a jump this week of over $.2.00.
The stock could be purchased by Roche in the next three months. I see a price of $20.00 a share. If you read this weeks " Riceen Letter" he writes the stock could go to $30.00 by the end of the year. This is a good read for IMGN shareholders.
Yes, the high for the year was around $18/share, but that number doesn't matter. Perhaps you're not aware that the company has added at least 6 million shares since then? Maybe you forget that the $18 high occurred when folks thought the starting royalty rate would be 5%, not the actual 3%?