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ImmunoGen, Inc. Message Board

biotechbeagle 155 posts  |  Last Activity: Apr 14, 2014 9:51 AM Member since: Feb 11, 2004
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  • Reply to

    Share offering this ?

    by biotechbeagle Apr 14, 2014 9:43 AM
    biotechbeagle biotechbeagle Apr 14, 2014 9:51 AM Flag

    Wedbush is the underwriter for this stock offering. Here' s there target from this January 2014 upon the microcutter exchange 30 510k.
    Cardica price target raised to $4 from $3 at Wedbush
    Wedbush increased its price target on shares of Cardica to $4 from $3 after the company received 510(k) clearance for its XCHANGE 30 endoscopic stapler without an age restriction. The firm maintains its Outperform rating on the stock.

  • biotechbeagle by biotechbeagle Apr 14, 2014 9:43 AM Flag

    Depending on market conditions, Wedbush is planning on pricing secondary this week. Interesting to note that when CRDC first IPO'd their market valuation was $130 Million. That would be 2.8 X's todays price / share. That would be nice!

  • biotechbeagle by biotechbeagle Apr 4, 2014 12:03 PM Flag

    Some biotech's have lost a lot of their market caps and now making them more attractive to potential acquirers. Where is the bottom?

  • Reply to

    S-1/A on 3-7-14

    by lgg_lewis Mar 22, 2014 4:19 PM
    biotechbeagle biotechbeagle Mar 24, 2014 10:16 AM Flag

    Given low volume Friday and today, it appears the latest offering has been executed and completed.

    Sentiment: Strong Buy

  • These guys have a price target on SGEN that's less than 50% of the current price? Boy they are really trying to drive it down! Who can believe such a low ball target? They certainly lose credibility that way in my opinion.

  • For those technical charters out there, looks like a cup and handle has formed and we are also just starting the golden cross (50day MA crosses the 200MA). I invest based on a companies potential but I also pay attention to charts and this looks interesting. Will soon see if these two bullish indicators are really a sign of better things to come. GLTA!

  • biotechbeagle biotechbeagle Mar 10, 2014 7:19 PM Flag

    Portack, really anyone's guess. The road show will be a good way to assess value given recent approvals and market opportunity. If the price is right , this company can be sold at the altar. However, I think it will make more sense getting additional microcutter product line extensions, japan approval, royalty stream started by intuitive and closer to the current patent expirations. By then the revenue run-rate will be 25-30m. If share price is. $5-8 then, could be acquired $10-14.

    Sentiment: Strong Buy

  • he mistake everyone is making here is assuming that the offering price will be $1.14/share. Cardica is planning to conduct a road show to drive interest and demand in the shares being offered that would generate $35million. I would think they may have a few catalysts up their sleeve prior to this offering. Such as CE mark and FDA filing of the Exchange 45. Perhaps an update on the US Surgical Development Program.

    The market is shaping up with (2) likely interested companies. Here's the current relationships:
    1. Covidien and Power Medical
    2. Titan Medical (Robotic) and Mayo Foundation
    3. Intuitive Surgical and Cardica (Robotic Only)
    4. Olympus and Gyrus Medical

    For the open stapling market this leaves Ethicon Endo-Surgery and Stryker Endoscopy looking for an innovation partner. These two most likely will target Cardica and JustRight Surgical, LLC. Applied as a manufacturer will most likely wait for the current staplers to go off patent and become a generic manufacturer no frills low price option.

    Given these current developments, I see Ethicon as the eventual acquirer of Cardica. I just think that Cardica wants to move this product a further along in development and create the market demand before agreeing to sell. I'm sure there is already an exit price agreed to by the major holders and potential acquirer. It's a matter of making JNJ shareholders comfortable and the Cardica BOD comfortable with the final price. The company must first get to a certain place for that value to be at the right point. The change of control (per the S-1) is lock tight so nothing can happen hostile with out taking care of the insiders and shareholders.

    Sentiment: Hold

  • biotechbeagle biotechbeagle Mar 3, 2014 4:25 PM Flag

    I didn't say that, you did. Why do you think IMGN went up today in a down market? I jus thought this was news worthy to post on this board in light of 901 failure. NSCLC is a tough one to tackle!

    Sentiment: Hold

  • Roche today acknowledged its second failed pivotal clinical trial this year by halting its Phase III METLung study of its MetMab (onartuzumab) in combination with Astellas Pharma’s Tarceva (erlotinib) for previously treated, advanced non-small cell lung cancer (NSCLC) whose tumors were identified as MET-positive.

    Is this why we are up now after being down this am?

    Sentiment: Hold

  • Reply to

    FDA approves

    by mannymelgoza Feb 24, 2014 1:33 PM
    biotechbeagle biotechbeagle Feb 25, 2014 11:27 PM Flag

    Interesting to note that when Cardica IPO'd in Feb 2006, they sold 3.5M shares at $10.00 to raise $35M. Goal in this secondary IPO is also to raise $35M.

    NEW YORK (MarketWatch) -- Cardica Inc. CRDC -3.48% priced 3.5 million shares at $10 a share in a bid to raise $35 million in is stock market debut on Friday. The Redwood City, Calif. medical device firm priced at the bottom of its reduced $10-$12 range with underwriter A.G. Edwards. The company's earlier price range was $12-$14 a share

    Sentiment: Strong Buy

  • Reply to

    Institutional Ownership..

    by biotechbeagle Feb 14, 2014 12:11 PM
    biotechbeagle biotechbeagle Feb 15, 2014 7:37 AM Flag

    Prime Cap is the 2nd largest fund holder of CRDC - heres a quota from their fund manager -“We don’t go for 20 percent or 30 percent gains,” Schow told Forbes magazine in 1994. “We go for triples, quadruples, octuples. But that takes years.”

    Sentiment: Strong Buy

  • biotechbeagle by biotechbeagle Feb 14, 2014 12:11 PM Flag

    Many 13G's filed past few days. Broadfin 4.7M, SHV 4.1M, Prescot 2.8M and Allen 1.4M. Large holders staying course!

    Sentiment: Strong Buy

  • Reply to

    Getitdone & BioBeagel....

    by mojo3176 Feb 7, 2014 10:49 AM
    biotechbeagle biotechbeagle Feb 11, 2014 10:56 AM Flag

    Todd Mitchell from UBS asked about the 5 Million available via the MLV after-market offering and why Cardica isn't accessing that? He said this would be a great financing vehicle since a stock offering could be very expensive on all fronts for shareholders in the dilution side and also the discount side and the liquidity in the stock is there to execute it. Cardica CFO said they have only accessed a couple of hundred thousand shares thus far.

    Sentiment: Strong Buy

  • Reply to

    Getitdone & BioBeagel....

    by mojo3176 Feb 7, 2014 10:49 AM
    biotechbeagle biotechbeagle Feb 11, 2014 7:37 AM Flag

    Yes, I listened to it and was very encouraged by the UBS analyst now covering. Biggest take-aways 1. Sales ramp up is and won't be full scale until they are satisfied with the final design of micro cutter. Sounds like they are very close to where they want to be. Per the UBS analyst question, they have 5 million available through MLV that won't dilute the stock, this can take them through end of 2014. White cartridge was submitted on heels of FDA clearance so should come any day now. Going direct in Germany and beginning to meet with KOLs in US (One I am personally aware of in the Mid West). Once they finalize the microcutter design and begin a full scale commercial launch the sales ramp will be very exciting and move the stock. Also have Japan coming on board later this year. I'm sure once they finalize the microcutter 30, they will CE mark the 45. The amount of liquidity in the stock now also points to a much broader interest in the stock.

    Sentiment: Strong Buy

  • Reply to

    MLV shs

    by mojo3176 Feb 8, 2014 12:41 PM
    biotechbeagle biotechbeagle Feb 10, 2014 1:14 PM Flag

    According to UBS, there is 5million available. This should be enough to get them to end of year. Cardica should be in good shape by then if White Cartridge sales are approved in USA this quarter and they finalize the microcutter design to ramp up manufacturing and inventory. Direct reps in Germany and Century approval also kick in. Also possible for ISRG version to be available late this year on DaVinci. Many god things happening now!

    Sentiment: Strong Buy

  • Reply to

    Trading Action Fri Feb 7

    by gene_ramirez_vox Feb 7, 2014 1:28 PM
    biotechbeagle biotechbeagle Feb 7, 2014 8:51 PM Flag

    Looks like Cardica is using the MLV shelf. For this type of volume and tight trading range it has the appearance of a stock offering .

    Sentiment: Strong Buy

  • Reply to

    Qtrly Conf. Call

    by mojo3176 Feb 3, 2014 1:14 PM
    biotechbeagle biotechbeagle Feb 4, 2014 7:13 AM Flag

    Microcutter is in for evaluation at prominent Surgical centers in the US. I am personally aware of a major Midwest center. Not going to name names until the eval is completed and microcutter is on the shelf. Point is with a limited sales force they have already hit the street running in the US even though the white cartridge is awaiting approval.

    Sentiment: Strong Buy

  • Reply to

    Qtrly Conf. Call

    by mojo3176 Feb 3, 2014 1:14 PM
    biotechbeagle biotechbeagle Feb 3, 2014 3:41 PM Flag

    That is in the sightings in USA Hospitals!

  • Reply to

    Qtrly Conf. Call

    by mojo3176 Feb 3, 2014 1:14 PM
    biotechbeagle biotechbeagle Feb 3, 2014 3:40 PM Flag

    Coviden Staple Reps sharing Cardica sightings in their accounts as they gather market intel. They are wasting no time getting their thought leaders rounded up!

    Sentiment: Strong Buy

IMGN
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