Oncodoc, you're a voice of reason, but I'm with bioimmuno. Any one of the catalysts he mentioned would finally bring a turning point, especially expelling the money-sucking, incompetent execs that have been holding IMGN's price performance back. And after all, isn't relief from long, pent up frustration one of life's greatest pleasures? So maybe that's why we frustrated longs keep holding on. Plus, I hold CLDX, too, yay!
Lack of trust. As we all know from personal experience, it can be lost in a moment but can take years to rebuild.
I suppose this BOD / management line-up could keep bumbling along without doing too much damage, and keep the SP low until something eventually and accidentally goes gangbusters. At least there is that. There is probably a good option strategy for this outlook. I don't know options enough to want to try. I admire your expertise in options and hope to get my feet wet someday.
Truly agree, Bioimmu, and I am bothered that now even Lambert sold shares. In business school they used to say under these circumstances where the company is incompetently managed but has huge potential, to "Buy the company!" Which is different than telling us retail investors to "buy more stock," unfortunately, and frustratingly. But surely, a Roche, Amgen, somebody, has got to want to pick this off. Apparently, given the profuse insider sales, IMGN management has no confidence in their own abilities to capitalize on Immunogen's huge potential. Sad part is, management and BOD may be also too incompetent to properly market and sell this company, which happens. Me, I guess I am too stubborn to sell this POS stock. And there is always hope that some savvy exec from a good company will want to score big on buying this.
Any helpful insights re effect on US holders of SI ADRs much appreciated, vis-a-vis share price and what happens to the ADR shares upon de-listing much appreciated.
Seriously, I think the IMGN executive team needs to start respecting the stock. They are, all of them, treating it like a pay booster, giving it to themselves cheap, them dumping it first opportunity. It sends a very poor message to us long term investors, the professional investment community, and potential new serious investors, that says, in effect: "we, the highly paid executives, don't believe in this company as much as we want to put more quick cash in our pockets." That, in my opinion, is why this is a POS stock. Maybe the do-nothing BOD should figure out how to restrict the stock and option grants to these, um executives.
One thing we all have learned, with ImmunoGen, its never too early to sell, and its never too late to buy. "Bah" is right. Great company, POS stock.
And the dim executives, having continuously sold their free shares as recently as this week, and lazy and incompetent BOD, don't even realize what a fat and slow moving target IMGN is. Sad part is, being greedy and lazy, they won't get a good price for us shareholders, maybe $25, ugh. But at least the patients who can benefit from IMGN's brilliant technology will benefit when the executive clowns are finally shown the door with their pockets stuffed with cash.
Useful press releases aren't an ImmunoGen specialty. I'm just glad they know their breakthrough science.
Wipe away the tears, Bioimmuno. Just teasin, I appreciate your insights and share your frustration. Got to get your happiness when you can. Today is a good one.
I knew when the stock starting tanking more than it usually does, that it had to be because Junius must have had his mouth open. Good news is, I've lost the last bit of 20 yrs' worth of attachment to this POS. The bad news is, so has everybody else. So when the inevitable price rise finally happens, like when their own molecule doesn't fail, there will be a rush for the exits at a relatively low (given the time wasted) $20 per share, mostly retail long-termers. Trick would be to suck it up and hold off selling along with everybody else for a modest profit. There is probably some ingenious option strategy that I am ignorant of that could weather that event and still profit from the pop. Got to try to wring some money out of this pig somehow.
BTW, I think we can forget about IMGN getting bought out any time soon for many reasons, mostly discussed. (e.g. license deals cheaper at the terms already negotiated.) But with even Lambert now selling off shares, as well as the more usual stock sales by Dan Junius and crew, looks like management insiders agree. They have their work cut out for the next two years, and hopefully the CytomXs arrangement is an indication that that is what they are doing. I agree with CH that share price will be eventually driven up as the Kadcyla revenues come in. These are honest revenues, earned the old fashion way, and the SP is less likely to get blown around by the winds of buyout speculation. Good investing and Happy New Year to all.