Clearly something is happening that's not yet known to investors. Let's play speculation. Is it:
1)Dan is retiring/being replaced and Howard Pien is taking over to turn around and sell IMGN? (my favorite)
2)Positive clinical development to be announced soon, internal pipeline, Kadcyla, partnership
3)Negative clinical development to be announced soon...
Secondary offering (my least favorite other than negative clinical)
4)Large owner giving up, taking the tax loss and moving on to a stock that might go UP!
5)Other??? add your speculation.
It's a game the shorts use to try and hold down the price. Not sure exactly how it works, but it seems to work well. Sold a few calls myself today, just on 1/10th of my position.
Not that IMGN longs don't have bigger problems to worry about...I was looking through Drugsurfer's posting history and noticed an old post from H&P. It's been 2 years since he posted.
Looks like a secondary is coming and then they follow with cheap exec option grants to take advantage of the low price. If they pull that again, I predict a shareholder lawsuit.
agree, cost could take some market share. Bel needs Phen. They might need to try the 1 Bel/day + phen approach to keep costs low, which would mean they will have to find 2x patients to stay even. Smoking better be positive, or we could be in for a long slog period of slow growth, cost cutting and losses.
has a Canadian Biotech co ever worked out well? Might as well buy a Canadian penny stock mining co. I think they have a higher probability of striking gold.
Thanks for pointing it out, I appreciate keeping up to date on large options transactions. Are you sure they were both sales?
Insiders never buy, only sell their free shares. That's just one reason (of many) that many LT shareholders are critical the current leadership team and BOD.
8 patients means likely it's many years away and so far nothing has been even close to a cure in anything related to CNS/brain. My pastor has PD. He's doing well now, but it's a difficult disease in the LT.
Move along, nothing to see here. Stock goes from $18 to under $8, Friday was one of the highest volume days ever, first down, then a reversal, now it's up over 14% again on high volume. Yep, no hidden info, nothing happening.
Stunning lack of information provided to shareholders, but up beats down. I have no idea if there's an offering coming, a buy out, some significant positive news (or negative). Maybe the BOD is listening and will fire DJ and replace with Pien?
as another poster pointed out, stability for a small molecule/pill should not be a big risk. With filings there are always many other potential risks i's and t's. On the + side, I think FDA wants NP/Pima to be approved, so I think the filing will go well, but there's risk when dealing with biotech and filings.
Option volume was way above average today. It's difficult to know if these were bullish bets, bearish bets, rolls of current positions (see deep in the money puts) spreads or hedges. Curious AH trades, first low then high. I hope we have a new activist investor/owner.
• Price more than 10% Below 20-Day MA (oversold, no kidding)
• 52 Week Low
• ADX/DMI Bearish
• Bollinger High Volatility
• Record Volume
I just noticed 11.7MM, that has to be a record in volume since the phase II FDelay in approval, which has actually worked out for the benefit of IMGN since they have the moronic 12-year deal term. An earlier approval would have resulted in more years of low sales and few years at peak sales. Maybe the BOD is listening and something good is about to happen, or maybe the bio-shorts are shorting in advance of an offering, which has been found to be illegal. Something is certainly happening, looks like more than just tax selling and window dressing, but someone had to sell all of those shares. Maybe funds sold and shorts bought???
been following it since about 1991, owned it off and on, own too much now. Nothing would surprise me, good, or bad with this stock/company. Technology, partnerships and potentially the pipeline all seem to have much more value that is reflected in the price. This volume and price action is curious, mostly in a negative way recently/all of 2014. Hard to believe $8+ is a relief and a buy out at $15-16 would be fine with me at this point. Just get us out or back to a reasonable valuation!!!
I think you are right about that, underperforming POS stock, large seller wants to be disassociated ASAP, potentially a big miss this quarter due to the timing of the NVS licenses (even though this was not a new cash event anyway, just recognition of revenue already received). Looks like the worst of the selling is over for now, maybe. I think the bad earnings report headlines and the usual terrible conference call to follow could provide another chance to buy low.
I don't know about Medicare, I was describing my experience through a very large employer plan with Cigna. As far as I understand, the $502 was proposed and the actual number will go into effect after a another comment period, so around early Nov. Shorts have a month to cover, maybe a little longer since it will take some time to get wide ins coverage and that will slow sales at least in the first few months (IMO). That's the point of my post.
good to see the stock is holding up (so far) on not great sales data. Still looking for that big Bel-phen surge.
leaked, not linked. Someone large is getting out and there's nobody there to buy. They are absolutely clueless!