There is no good reason these companies should be trading at 2x and 4x IMGN except for poor leadership/management. IMGN is undervalued due to weak leadership and that's not a difficult fix, fire Junius and fire the BOD if they fail to act. We need help from the large institutional owners.
the other potential solution is to find a white knight or respected biotech investor to accumulate like the Baker Bros, or a noted shareholder activist like Carl Icahn. Unfortunately, BB's are wedded to SGEN, and Carl usually invests in larger firms.
All but 1-2 of the Directors have a profile listed on Linked-in, so I contact, or at least attempt to contact them directly through LI. Other methods would include calling their current employer (if you can find one) taking a guess at their current work email addresses, most use a similar design. You can send emails directly to IMGN employees, but who knows if they read them. I have never tried to send emails to the Directors by using IMGN's email code, I doubt that works. You could send the email to IR and ask them to forward it to the Directors, but I doubt that would happen. You can find where the Directors live and attempt to look up their phone number in the white pages on-line and call them. Now I am starting to sound like a stalker, but I have several years of experience trying to find/contact people. Linked-in has made that much easier. I suppose you could try FB, or other social media, do Google searches...
What we activist shareholder/owners may need to do as the next step is contact the large institutional shareholders and ask them to start applying more pressure to the BOD.
Dan Junius has lost all credibility with analysts and shareholders and is destroying the stock price, reputation and value of Immunogen. Dan Junius has been a complete failure by every measure important to the shareholder/owners (stock price growth/performance, ROI and relative strength). If IMGN were managed properly the price and valuation of IMGN would be much closer to that of their chief rival, SGEN.
IMGN has a great drug discovery team under John Lambert. IMGN owns a valuable platform and technology and Dan has done nothing to leverage the success of IMGN's assets. Many long-time investors in Immunogen have made no return while general market and biotech industry indexes are at an all time high. The fair market value for IMGN's pipeline, technology, licenses and cash should be over $20 and IMGN is trading below $14. This is unacceptable! It's past time for a change in leadership and direction. The shareholders demand fair value and a return on their investment capital and risk.
Do your job, take shareholder-friendly action, or please resign and stop accepting compensation for doing nothing! There are at least two obvious courses of action: 1) Hire a Biotech industry CEO like a Tony Coles that has successfully turned around a biotech firm, has credibility with the investment community and success evaluating and developing a pipeline of drugs and/or 2) Hire an investment banking firm to find a buyer that will pay full value. We don't want an undervalued, insider deal or 3) Appoint Howard Pien as interim CEO while doing 1 or 2. The sooner Dan resigns the better, he is destroying the value of this company and my stock.
Long suffering and extremely frustrated IMGN shareholder
agree, stock looks weak. I let most of my shares go through selling the 7.5 call last month and did the same with the rest of the shares for this month. It seems like an interesting company with interesting technology and questionable management/execution. I have too many similar issues with my biotech holdings. I was hoping for some diversification, but issues and performance seems fairly correlated.
exactly, if the number is not showing high growth AF tweets it early. If the number shows high growth it's harder to find and announced later. So far, no negative effect on the stock price. No growth is disappointing IMO even with the holiday. Looks like growth will be slow until Jan.
All we need is continued, and preferably accelerated growth in sales. Some news on the pipeline would also be nice. Just imagine if there was a safe, oral drug that helped with Obesity and Diabetes. That would certainly be a blockbuster!
That's 2 presentations in a row for Charlie? Is Dan on his way out? Is Dan in hiding due to lost credibility? Maybe he's on vacation? Is IMGN in play?
Did anyone review the notes from Charlie's presentation for new information?
someone recently wrote a good summary on the IV board, but I think there'e some new info expected at Ash, probably early stage and clinical updates on just about everything in the pipeline (internal and partnered) over the next 6-12 months. We might get some stupid PR about 901 tomorrow, I recall Charlie mentioning something on the last company presentation. Maybe they got smart and decided to let it die a slow and silent death, the best policy IMO. No need to relive that fiasco.
Just imaging if there was an oral grug that worked for both Obesity and T2 Diabetes, it would be a huge, double large blockbuster no? One can only dream, or in the case of a sane, rational short seller it would seem to be a nightmare.
Looking at the past 5 days, I think we have an inverse H&S that bottomed early yesterday and broke the right shoulder at 21.5 today. Next resistance is $22.5 then there's more at $23.
I agree with all of the comments about greedy, self serving and incompetent management, so I am not advising at this point, but typically when a biotech with good technology has been "left for dead" out of favor is a good time to acquire. IMGN does have several opportunities for pipeline news in Dec and early-mid 2014. The problem is overhead resistance since many investors have lost interest and confidence and seem ready to sell at a higher price. That causes overhead supply. Shorts seem content for now, so IMGN needs new, significant news to regain investor confidence.
Looks like the bios are mostly up today, but I did notice a story in FierceBiotech about a drug delay in Sciz, not sure if this drug is a potential competitor. Come on $22.5!
they can certainly use the option and then look to license it out for much more than $5MM, maybe $50-100MM, or some combo of $ now and royalties. Since advenced drug development is not a core competency, they have little to offer in that regard.
wow, that must be some strong bubble if the markets and ARNA can sit on it, frigging moron, learn to write! Did you pass the 5th grade?
there's a lot of clinical news expected over the next year. I never expected 901 to work, but shorts, some analysts and media over-hyped the situation and IMGN has done very little to protect the shareholders. They must have more free option grants coming up soon and want to keep the price low. Now that the technology is proven, they just have to start focusing on the right linker and DM1 as the analyst recently suggested by his question and stop wasting time on things that do not work, or or not proven. I recall they mentioned something on final decisions for 901. Hello, it's dead, let it die a quiet death and stop attracting attention to the failure! Friggin idiots!
IMGN has an opt-in right on the drug, they can buy in at a fairly low price. I think they should do that and then sell, or re-license the rights to the highest bidder. IMGN is going to need cash to get 289 further along if the do-nothing BOD continues to do nothing and allows IMGN to remain a public company. The current price is now so far below the full value in a deal, or with better management, some smart large investor should be putting the pressure on them and some smart partners should be considering an offer.
this is old news, should already be in the stock and it's not unusual according to some reports I read. It's basically the Japan Govt trying to negotiate for a low price. Delays are sad for patients. The early results for 062 look interesting, see ling on the IV web site since links won't post on Yahoo.