We should see approval of Kadcyla in the EU by the end of the year, we got a recommendation from the CHMP in latte September for approval. In September Kadcyla was already approved for marketing in Japan, another very big market. Approvals in both of those jurisdictions triggers a $5 miilion milestone payment for each. My assumption is that those were pretty much priced into our current stock price. Actual EU approval will be great as it will drive sales, but I don't really expect much of a catalyst out of it for the stock price.
Yes, we should see full quarter earnings on Kadcyla in the January report for Q4 of 2013. Until then I think we might be dead money unless Junius and his staff nut up and do something to defend the reputation of their entire platform for which their business model is built upon. I really do find it hard to believe that they willingly threw this hand grenade out there, knowing how much they were questioned and scrutinized on the toxicities related to dosing of 901 they had earlier that forced them to re-start that clinical trial. Especially knowing that they were in a position to control the information released. They were the ones that drafted and edited this press release, so they could have managed this in a much better way. It is sad to see this game changing powerful technology in the hands of these fools. I gave Junius the benefit of doubt for a while, but now I think he should be tossed out on his #$%$.
Unless we see some interim results from ongoing Kadcyla clinical trials the news is going to be rather
slow for the rest of the year and into Q1 of 2014.
Glad to see everyone is finally coming around on DJ, he's got to go along with IR and a few of the development pin heads. IMGN will have some news from the Sanofi drugs and BT drug (not expecting much from BT) this week, so this will provide an opportunity to respond with a stronger PR. This attack should have been predicted and much of the decline should have been prevented.
I traded 2 short emails with AF yesterday and he seemed to think 901 was a big deal for IMGN and investors "should take responsibility for their mistakes" like IMGN 901 was a big event and as he still apparently believes, likely based on what he was told by his hedge fund handlers, 901 is similar to the other IMGN drugs. I am not invested in IMGN for 901 and never gave it much weight, or probability of success and therefore assumed others, analysts, hedge funds with all of their DD expected the same. Maybe they did and they are helping shorts escape, or long clients buy low.
I continue to think shorts overplayed this, it's not a big deal and IMGN is worth $14 just based on Kad royalties and cash with no value placed on their entire internal or partner pipeline. Back to the day job now.