IMGN needs to respond and needs a new strategy + leadership
AF has trashed the company and their technology and what is IMGN's response/defense? So far, I have only seen some weak addition to the web site (below). This is inadequate! IMGN's executive management is failing in every possible way and must be replaced. CEO and IR have lost all credibility and must be replaced. Drug development people who failed to stop, or fix 901 must be replaced by competent drug development pros, or
IMGN can change the model, downsize and focus on drug discovery and maybe do phase I testing through consultants, then license to Roche, or even SGEN. This would allow IMGN to downsize, cut costs and maybe beef up discovery with the remaining cash and flow from Kadcyla and other drugs as approved.
Another alternative is to sell to the highest bidder, or in parts. They have a new technology that might be sufficient to start a whole new business, but that would require funding and competence.
Another alternative is to find a white knight investor BB's. Sell them 2-3MM shares at $13 and shorts will flee like the rats they are.
This is the response???
Kadcyla® uses ImmunoGen’s ADC technology – our thioether (SMCC) linker, our DM1 payload – as described in claim 2 of one of our patents covering this product.