Received email from IMGN. It' s an 8K filing that was filed this morning.
O'Leary quits for personal reasons. Charlie Morris assuming his responsibilities. Bioimmunomabman did you chase him out with all your rants?
If you were happy the day the stock went up to $1.80 on news of the FDA approval and quickly sold off hurting you as a shareholder (if you really are), then Broadfin is for you.
We hope Broadfin’s stated commitment to Cardica is for the long-term, but we note that Broadfin has been both a buyer and seller of Cardica stock. Notably, Broadfin sold the vast majority of its holdings in Cardica, severely impacting Cardica’s stock price, shortly before Cardica’s last public offering and Broadfin then purchased its current position in April, 2014, at a lower price.
Sentiment: Strong Buy
Broadfin is high on FLML and PGNX. Not aware of their big wins. Does anyone know?
Not sure what they bring to the table besides Money and Investors. They may have a buyer at what price $2-3? What strategic consulting are they going to provide cardica to help win over surgeons or hospitals? I'd like to see them expand portfolio and gain Japan before any sale discussions are ever considered.
Big market, duopoly, patents expire in 16', smart money invested in CRDC, disruptive technology - small size, articulation, commercialization just begun with more approvals coming Japan, Exchange 30 short shaft, exchange 45, now well funded - yes! All this gives me confidence this will be a winner! Sometimes things just don't move as fast as investors like, but the intrinsic value is absolutely there.
Sentiment: Strong Buy
Have to hand it to Zacks! They did call it. Feel sorry for those that lightened up at the peak of their frustration. Let's hope it continues followed by some good news.
Carol must be reading our message board! They have updated the pipeline moving both sanofi drugs to phase II and Biotest to Phase II. This could be why Zacks states analyst targets have moved up.
These expiring warrants will make for an interesting month. If the warrants expire, cardica won't have to issue the warrant holder the $4 million of stock that would further dilute (already factored in cardicas valuation) or the warrant holder will be willing to buy them at $1.45 which makes no sense since they can buy shares on the open market at $1.12. What will make this interesting is a Japan approval this month, a microcutter 45 fda submission or any demand for the stock. Are there 4 million sellers willing to sell at $1.12? We are trading at this level with little liquidity. September should prove to be an interesting month with stock price movement larger than we seen of late. Could be why Broadfin has moved in a big way recently.
Sentiment: Strong Buy
Well one thing is clear, no one is buying on M& A speculation. The usual crowd of Biotechs rumored to be acquired are all up big today. Not us! But then again we are so quiet we've fallen off the radar.
Sanofi has this drug candidate in Phase 2, IMGN has it as Phase 1. It would be nice if they kept these up to date increasing the value of the pipeline. IMGN makes up almost 50% of Sanofi's Oncology Pipeline! Sanofi has bought REGN yet, so maybe their are happy with licensing deals. Interesting that they didn't comment on the Fast Track for IMGN853 and the advancement of their pipeline. They are conspicuous with their lack of investor communications!
Bio, phase II is where the value creation and shareholder value begins. We have to get these wholly owned dosed right. I do believe that Sanofi (5 compounds, 1 phase II), Amgen (4 compounds) and Novartis are the likely targets. One has to look at big pharma's current oncology portfolio, type of cancer (ADC platform proven to work), patent expirations and annual sales. If IMGNs ADC can extent the patent life with a more effective and less toxic formula, the acquisition price for IMGN looks very reasonable.
Not true, a major uptrend signal. The 50 day moving average has clearly crossed and sustained above the 200 moving average, aka the "Goldern Cross" which is a very bullish sign. Japan approval will push this over $1.40. Coming any day as it was filed last August. Wed Bush has a $4.00 target post the Q3 Earnings call
Wedbush stated they have a $4.00 target on crdc when they introduced Bernard's presentation. He did a great job. Really emphasized they IP and mentioned more parents are forthcoming.
The early sell for $1.03 was clearly someone trolling to see if they could line up more sellers. Didn't happen! Century Medical will be a catalyst as they have a strong sales force with reach something cardiac doesn't have in the USA. Japan also is a big on miniaturization and a less-invasive procedures. Cardica may also surprise with an earlier than anticipated submission for the 30 exchange short shaft and 45 microcutters. Each of these catalysts will cause analyst to revise targets.
Maybe Roche helping drive down IMGN Stock to acquire on the cheap, then drive Kadcyla with 100% ownership. GSK screwed HGSI with their Lupus drug in early launch driving the price down only to pick them up on the cheap.
This suggests possible BOD shake up with their new 10% of influence.
"Broadfin Capital reports 9.98% stake in Cardica Broadfin Capital has recently engaged, and intend to continue to engage, in discussions with the company’s management and board of directors regarding the composition of the Board, generally, and means to enhance stockholder value."
I'm sure Broadfin sees possible catalysts just ahead such as Japan Microcutter Approval, Microcutter 45 exchange submission and possible ISRG DaVinci Microcutter. R&D surely has made progress since that original licensing deal.
Slumdawg thanks for the quick analysis and facts! Much appreciated. Thanks for being a poster on this board, too quiet around here!