The ADC technology this company has is one of the most impressive new developments in biotech than I have seen in years. Unfortunately it is in the hands of a bunch of embiciles that have been unable to ink a meaninful deal with anyone in the last couple of years. What looked like a very promising investment has turned into dead money for me. So its time to fold up the tent and move on for me. I may keep a few thousand shares, but I have allocated way to much into this one holding.
Not only are these fools doing nothing to generate any new biz, but it also looks like we are starting to see significant pushback from reimbursement/insurance regulators also. To them, it does not matter what the drug can do for a patient if it costs more than they are willing to pay. For that reason, Kadcyla's growth may be limited. We are still a few years out from seeing the label expanded for Kadcyla as a result of the ongoing clinical trials. We cannot blame the current management for the royalty structure for Kadcyla, but that is also working against Immunogen as well. I sincerely hope that Immunogen get's aquired so that this ADC technology can truly be put to use and create some meaningful new drugs. Too bad you cannot sell covered calls in a 401K as I would use that to move out of this investment.
I agree with you that IMGN is being wasted. Down through the years I have $ cost average and have a 6.25 Avg on 18,000 shares. The problem is I don't trust the CEO and the board since the only shares they buy are handed down to them.
Premium is so crummy right now for the forward two months that i don't see it worth writing the calls. I'm losing money on this belief, but as we flirt with the 50 day average, i think we might be pulling in short term traders and stabilizing the price on the dips higher. I won't write calls now because i think we risk a 1-2 dollar move up quickly, from 12 to 13 that would occur in 1 week. I'll sell the calls after.
I'm hanging my hat on 100 million in revenue for the year. That sounds really nice and I hope that it comes true. Along with BT062 and Marianne, and the stock making the bottom of what I hope to be a V, now seems like a poor time to sell. If you're concerned about the long term implications, you might as well get out at the end of the year, but not too soon. IMO.
I agree. The company has an impressive technology platform with enormous potential. If current management cannot make it happen, some pharma will buy it out. The buyout rate is increasing as big pharma becomes increasingly desperate for pipeline. If you can't wait for that, okay, bail.