Thanks Broadfin for keeping the lid on share price gains with the release of good news as you have done each and every time! Great way for you to win and influence shareholders to gain your proxy votes, NOT!
I think Cardicas best play to shake these scoundrels is to get an equity investment from JNJ, COV, ABT or Stryker and a licensing deal for the open market just as ISRG did for the Robotic Market. I have a feeling now that the final design of the microcutter is stamped, that we will hear something from ISRG. They have been playing with it for 3 years. ISRG also has something to say in the eventual acquirer as they have an equity stake and licenses depending on the new owner/partner. With the technological IP Cardica has and (2) FDA approved products in a billion dollar market with stapler IP expiring, I feel with cash on had, existing sales, NOLs Cardica would need $275 - $300 million to get a deal done. $3 - 3.65/share. This is only because they are in their infancy of the commercial launch. Otherwise if they could hot their stride and capture 25% of the market with a niche best in class product, valuation would be 250million potential sales x multiple of 5 or $13+ a share.
14% of the outstanding shares traded today! Could be fund managers exchanging hands end of year. However, this is a bit more curious give how low it's traded with this scale and without any news. Could very well be Roche accumulating prior to Marianne Read Out. Wouldn't be surprised as you state that this will happen prior to the annual shareholders meeting.
Immunogen has been nominated in 4 out of 6 awards at the upcoming World ADC awards in San Diego - Oct 26th. Cat 1 most promising drug candidate is IMGN 283! Also a finalist for best Team, John Lambert nominated for individual input to industry and Ravi Chari nominated for long standing contribution to the field. CytomX Probodies was nominated for best scientific innovation!
How can Broadfin expect earn shareholder votes when they have been the big manipulator - sellers keeping Cardica's share price down. Hope these scoundrels get out and move on once and for all!
Vulcan why are you getting so emotional? If you didn't think you were a moron yourself and my message was specifically targeted at you then you would have ignored it. Guess I touched a sensitive nerve.
Agree with gene. Lot's of IP and (2) great FDA approved products available for only 40million! I suspect some news and a big microcutter launch at the Amer Coll of Surg on Oct 26th in San Fran. Maybe you will have something to be happy about soon! Wish you well as you must be a frustrated share holder and not just a paid basher.
I had an order in for $.95 and never got filled even when it dropped to $0.88 for that 30 second window. Seems like these big blocks that are below the current bid all the sudden find a big seller telling me these are pre-arranged trades with a fund manager moving between accounts. Trading seems soft but there is clear accumulation going on! Thoughts anyone (with a brain that is, not the usual gang of moron bashers full of emotion and no facts)?
Has all the cancer money left IMGN & SGEN ADC Technology for CLDX, AGIO & BLUE?
Credit Suisse on Sept 18 gave IMGN a value of $14.00. TDM-1 Royalties $6.00+Cash & NOL's $1.00 and Pipeline/License Deals $7.00. What part of this equation evaporated, Kadcyla or Pipeline? Still doesn't add up for me. I think this is a no brainer acquisition for Roche and possible Novartis (6 licenses) Sanofi (5 Licenses) and Amgen (4 licenses)
I'm glad that their is still interest in ADC technology. The wall street money seems to be moving to new cancer technologies such as AGIO and BLUE. However, the large pharma companies appear to still be interested in ADC technology based on the number of new licensing deals. I hope their are more successes to bring the money back to ADC such as IMGN, SGEN and CLDX.
Not always the case. I work for a small company just acquired. Our stock was sold hard to the point we said internally is was a no brainer for someone to acquire us. Niche product, cash on hand, in need of larger resources to realize full potential and NOLs. I think IMGN is now at a no-brainer price! We'll see.
I know the biotechs are getting hammered, however, IMGN is getting aggressively sold off beyond it's asset value! I smell an acquisition strategy in the works. This is not behaving the way a company with an approved drug with a first line study about to be released, 17 licensing deals, 200 million cash and a wholly owned pipeline of 4 drug candidates with one about to be moved into phase II. Just very strange! Of course they can accomplish this with the overall market selloff and lack of news. But at some point, which I believe the time is now that this just doesn't make sense at all!
I personally think getting the final design or iteration was reason for the slow sales ramp up, major inventory production and any delay in further FDA Submissions for the exchange 45 and the short shaft 30. I also believe we will begin to see movement in ISRG using the microcutter on the DaVinci. Power medical version recalled already. Maybe they will shelve it and get the Microcutter out soon. Have had the license for few years now. Looking forward to the College of American Surgeon meeting coming up end of October. Could be a major launch pad meeting for Microcutter.
Strange that they did not do a press release on this. Just like the 853 orphan status designation. They seem to want to be off the radar all while the stock price is declining. My conspiracy theory is they want shareholders to be able to average down so if an acquirer comes in to buy the company at $18- 20.00 and they would not vote against it. The covert nature of news lately and the share price beating IMGN is taking relative to other biotechs is not making any sense to me. Would not be surprised to see an acquisition by Sanofi, Novartis or Amgen by years end. They can sell it here at $19.00 with a major premium.
On October 3, 2014, Novartis Institutes for BioMedical Research, Inc. ("Novartis") exercised its rights under its Multi-Target Agreement with ImmunoGen, Inc. (also referred to as "we," "our" or "us") to take three licenses for exclusive rights to develop and commercialize anticancer products to three undisclosed targets using our antibody-drug conjugate technology. Novartis has now taken all licenses permitted under the Multi-Target Agreement.
The exercise by Novartis of its rights to take these licenses results in $25.7 million in revenue being recorded by ImmunoGen in the current quarter, inclusive of exercise fees for these licenses payable in cash and the amortization of the remaining portion of the upfront fee paid by Novartis with the establishment of the Multi-Target Agreement. Additionally, each license entitles us to receive up to $199.5 million in milestone payments plus royalties on the commercial sales of any resulting products. Novartis is responsible for the development, manufacturing and marketing of any products resulting from these licenses.
Some very suspicious trading! that 242,600 share block was traded at 1.05. Big volume followed by small volume with large price drop. Check out Nasdaq site and look at last 100 trades. I suspect some big news is about to hit soon.