It's now been roughly 30 years since IMGN began research on conjugate drugs, they've yet to produce an approved product. One CEO managed the company most of that time, but he's retired a few years ago. Their first approved product is anticipated early next year, it has a royalty rate under 5%, it will be at least a few more years before the second product could reach approval.
To date, I'd have to admit, it's not been very successful based just on the above. I think a more in depth review might suggest future success should be anticipated, and in spite of the fact that the former CEO isn't there any longer, it will almost entirely be based on what he put in place.
Looking at the company today, they have nearly a dozen drugs in or reaching the clinic, and several announced to be advancing. The drug to be approved, T-DM1, could replace and expand on Herceptin, which already earns over $5 billion a year, so it should earn hundreds of millions annually for IMGN, even at under 5%. Current partnerships should result in 2 or more new drugs entering the clinic for the foreseeable future, and IMGN ought to add one or two of their own as well each year.
To date, you might call it a failure, but what should be our concern, what it's been, or what it may be. I believe from now on it will be highly successful. Looking at AEZS, it actually has gotten a drug approved, it's very likely to have another one by 2014, perhaps more than one. It has a broad pipeline of drugs which mostly are owned completely by the company. I can't say it's a success yet, but believe it may have been a failure to date, but I'm concerned about what I expect it to do in the future, rather than abandoning it for what it's done in the past.
Gary, with all due respect AEZS has a miserable decade. A miserable total existence to be more precise. The stock sits at what is now an all time low and the company has been plagued by failure, after failure after failure. Stir in constant dilution and over paid corporate officers and you have the losing formula they find themselves in today. AEZS promised the world for 10 years and delivered on none of it.
gary, you are the only failure here, but the one thing you have not failed at is sucking many other investors in here and in your other gem, gnvc. Both reverse split and anybody who listened to you is likely down about 80%+
You are a DANGEROUS POSTER and I hope you soon get collected in class actions suits against both aezs and gnvc for your fraudulent posts.
$160 target on gnvc Now less than $2.00
$60 target on aezs also less than $2.00
These losers can't even get a timeline right. How many times have they claimed to be filing an NDA for 130? And deep pipeline? Can't be that deep, they just gave away 33% of the entire pipeline for 15 million with the PIPE.
I would agree that originally forecast dates have slipped, I've watched many biotechs over the years and find few that ever met target dates consistently, in fact it was rare if ever that most did. While I'd certainly prefer new shares be issued at higher prices, again their actions mirror nearly all other biotech's in a similar position. As shareholders, we don't like it, but as investors, if the drugs are successful, we'll still do very well. The key, as always, is success, and I believe their broad pipeline will eventually have numerous successes.