Looks like someone is either buying the July 19, or rolling out of the Dec 15 and into the July 19. Is this shorty exiting, or hedging? Looks like bullish option action.
I appreciate the new ideas, but I am too busy with the day job right now to give enough attention to new ideas. I will have to enter these into my Worden Telechart system and take a technical look and start tracking them. It takes me a long time to get comfortable with a new biotech technology, company, management, etc. I usually never do get comfortable with management although I am not complaining about ACAD of the little antibiotic co I owned that was acquired. As for IMGN and ARNA execs' not a fan except for John Lambert IMGN and Craig Audet ARNA. Many biotech CEO's and CFO's are terrible when it comes to shareholder value creation/orientation.
yes, I was thinking the same thing when I saw this on FierceBiotech yesterday. They will buy something. Hello, this is Howard Pien from the IMGN BOD, remember that deal we did for Medarex? That worked out pretty well for BMY. I have another deal for you...IMGN.
wrong, you better get educated on options, or avoid them and not comment on them. For you options newbies read "Options as a Strategic Investment" before donating your money, or wasting the board's time.
I am not responding to the poster, but to Sharon's response, yes, trade size was 7100, not 70,000. I did not see the trade, maybe they were sold by people who think price is going up. Poster can't spell bought and can't tell the difference between 70,000 and 7,000, another uneducated basher I assume. click ignore.
as usual, sellers won, buyers lost. It's usually the case with Tankogen or Garbagogen. What a trading sardine this is turning into. Maybe $14 close tomorrow. Glad I sold calls, should have sold more and lower strikes. Merry Christmas to all time to give this one a rest, nothing good happening for long owners.
while I agree with you, complaining here does no good. Contact the BOD members and ask them about rewarding management of a stock down 40% when the market is up 50%. This is typical of biotech, CEO's think they own a private company, they insulate themselves with friends on the BOD, they are not shareholder focused and until a large owner forces change, there's not much you can do about them, they have no shame.
On the plus side, we know Management likes to reward themselves with cheap shares and then announce positive news, they used to call that front running and it used to be illegal, so something positive must be coming.
Rich insiders FAIL and get richer, this is the new corp america. As a shareholder I only care about 1-2 measures: did the stock price go up, or down and how did the stock do relative to peers/Biotech. Biotech ETF's were up about 50%, ARNA was down. To me as a shareholder, performance was terrible and people should be fired, not rewarded with lavish option packages and free stock.
Next up, JL will reward the BOD to thank them for rewarding the execs, this is how the scheme works. The losers are the shareholders, they just get diluted, the scraps!
And to the financial illiterate commenting below, these are freshly minted shares, of course it adds to share count/dilution.
REGN could float less than 10MM shares and buy, or I would take 1/10's of a share of stock. I think it will eventually be Sanofi, or AMGN and Roche will buy SGEN. LLY would be smart to buy them, their pipeline is really weak. Bayer could buy them, but they are really slow in their decision-making. Sanofi has not mentioned next steps yet, so maybe their next step is acquisition. IMGN can't stay cheap forever unless we are all missing something.
best guess is lots of volatility around $15 then a $15 + - .05 close on Friday. This stock is so controlled and manipulated, it's becoming nothing more than a trading sardine. Very annoying for the LT owners!!!
DJ, BOD let our people go. IMGN investors have been wandering the Desert for 20+ years looking for a return. Every time we see water, it's only a mirage that turns into dust. CELG, PCYC SGEN and other investors were led to the land of milk and honey, but we eat locusts!
Agree with everything, but 2014 is probably not going to be the year for breakthrough or breakout earnings. News is great, relationships great, but can they deliver revenues and earnings? Do they have patent protected products and a strategic advantage to prevent larger firms like GE from coming in and taking the business? If so, they will probably be acquired at a premium. If not, they will probably continue muddling along. The "technology guru" that suggested this company looks interesting before I bought stock was referring to a power grid solution, but I am not seeing much news about that? I don't know enough about this field to continue on the journey.
OK, ask = buy, so maybe someone knew something. IMGN made a new monthly high. Looks like next resistance is around $16 "if" this rally holds, but with IMGN anything is possible and reversion to the mean is the norm. Maybe the tax selling is slowing, or over and IMGN shareholders will get a Santa rally from Christmas through Jan. Would love to see shorts get a lump of coal in their stocking.
based on a real quick reading 1) the science is above my pay grade, maybe CH can tell us more, I would have to invest a lot of time to understand this, it looks new 2) the results look interesting, very early stage. 3) Oral is a plus 4) The market cap seems large for the stage, especially compared to IMGN but I have not reviewed their entire portfolio. I also understand it might be relatively large for a good reason. It's worth further investigation and has certainly worked out well for those who bought early.
From the IV Board
ASH meeting highlighted strong efficacy data for anti-CD38 antibody daratumumab (dara) in combination with Revlimid, a component of current standard of care for multiple myeloma (MM). While still early and in a small patient population, objective response rate (ORR) of 72% indicates potential for CD38 combo therapy to set a new standard of care.
also outlined a broad development program in MM, in-line with our view, and we continue to model dara as first CD38 to market in 2016 with peak sales of $2.3bn.
Sanofi/ImmunoGen presented data from a Phase I monotherapy study of anti-CD38 SAR650894 in relapsed/refractory MM indicating strong single agent activity with ORR 30% at higher dose levels. With strong efficacy and a shorter infusion time (2 hours) relative to dara, we believe ‘894 is a viable contender and potential threat to dara’s position. Sanofi has yet to outline the development plan/timeline, but we estimate ‘894 could be on the market in the 2017-18 timeframe.
Morphosys’ anti-CD38 MOR202 clinical profile remains uncertain, and we don’t expect data (r/r MM monotherapy) until ASCO 2014, but Morphosys/Celgene may provide an update to the development strategy/timelines in early 2014. Potential areas for differentiation versus Genmab’s dara include a shorter infusion time (2 hours), a less CDC-dependent tumor killing mechanism, less depletion of NK cells, and lower infusion reactions potentially indicating a better safety and
tolerability profile. We model a 2017 launch and peak sales of $1.9bn
ASH highlighted increased competition to Genmab’s dara, which we believe is likely to be followed by more potentially negative news flow in 2014 including Morphosys’ updated development plan in 1Q14 and MOR202 data at the ASCO conference in mid-2014. We see additional headwinds from the ibrutinib head-to-head data presentation with Arzerra in r/r CLL in 1Q14.
Source: Goldman Sachs/Chesney, December 16, 2013