Guess I'm mistaken. It's one of those event trades that just sell off and pps might slowly recover or no bounce until there are analyst upgrades again. I'm not sure that mgmt is seeking a partner for any of the drugs.
Anyway, probably more trial updates come ASH.
I already relieved myself and the good vibe is still there so it must not be indigestion!
Let's see the Roche Kadcyla sales next week.
It seems like the volume usually picks up around the Roche qtly reports. You can see the volume increase also in the April qtly.
More than 1M shares in the last 15 min!
The earliest anticipated event is the Roche qtly next week. Insiders already know the numbers. Maybe the recent increase in volume and price strength are simply because Roche will be reporting that Kadcyla is on track to sell 700M this year!
Disregarding the Yellen and Putin dips, there seems to be some strength in the price and volume this week. Today will be the 4th day with more than 1M shares traded, if it passes 1M today. I'm not sure if it is good, or if it is a sign that IMGN will be announcing a stock offering soon. It just feels like there is something brewing below the surface, aside from my indigestion.
How do you guys feel about IMGN monetizing all future sales of Kadcyla to Roche? Good or bad move? Short term effect on pps?
Should Ukraine just be split into 2, just like Yugoslavia was split into 3? What will happen with Crimea?
Without thinking, I know that my biotech gains are crashing precipitously today with the Malaysian plane/Russian/Ukraine crisis, following at the heels of Yellen's blooper.
Odd that LPTN is green on high volume, but low price.
Amazon plans to deliver premium bacon by drones. Will that count?
IMGN already on the decline with the QE ending and talk of interest rates increasing, then Yellen just had to point out small cap biotech as overpriced. Talk about too much information!
Yes, I also found it odd after I saw the fly note, and didn't see a PR and nothing on their website. Then again, any good news today would have been trumped by Yellen's blooper. A PR tomorrow would be nicely timed.
While stocks generally don’t look very expensive, valuations for some “smaller firms in the social media and biotechnology industries” appear to be “substantially stretched.” What the writers failed to mention is that Yellen later on went to add that "I would like to emphasize that these overpriced biotechs companies do not include the promising biotech company, LPath, which at less than $60M market cap, is clearly undervalued considering that it is sitting on future blockbusters for wet AMD and oncology.
For orphan drugs, since patient size is small and there are no competing drugs, companies usually charge a huge premium. If IMGN can charge 100k for a one year treatment, for 21k patients a year, that will already be 2B $$. If IMGN is evil and there are no better treatment options, and the drug works great, they can charge 200k/yr.
Orphan drug designation means subsidized or waived PDUFA fees, tax discounts, and smaller trial size means less clinical expenses. That doesn't guarantee efficacy and approval though.
She must be a biotech short!
Amazing that she doesn't know how powerful her words can be. Bernanke was more cautious with what comes from his mouth. I still blame shorting. It should be banned as it is not really investing.
On the positive, at least your buy price is lower than Scott's 5000 shares at 4.95!
pps was already above $4 recently when market news on approaching rise in interest rates and Portugal drove pps down again. I think, there are many small investors here who had sell to cover margin calls. The fact that Isonep results won't come out until 2015 means that they can sell Lptn at this time and have plenty of time to go back in. It's gonna be a slow, rough ride back to $5 unless there is a great update on the Asonep front or a surprise corporate partner announcement for Lpathomab.
In the meantime, I continue to average down, and will sell my higher price ones on the next spike.
It is normal practice for small biotechs to close trading window to insiders a month or so before quarterly report.
Nice volume today. Margin calls from the previous 2 biotech sell-off days must have forced retailers to sell again.
What is the good news?
In less than a year we will know if we will still be in this stock and in this board. :)
No, it's not Charles this time.
I placed an order for 1000 shares at 3.59 and got filled instantly. It used to be that it only fills 100 shares at a time and my full order never gets filled. Something is off.
The head of the National Centre for Pharmaco-Economics, which advises the Health Service Executive on drug costs, has said he believes a breast cancer drug the centre has rejected at its current cost will ultimately be made available to patients.
The centre has advised the HSE to reject the drug Kadcyla, manufactured by Roche, on the basis that at a price of #$%$80,000 per course of treatment it is not cost effective.
Prof Barry said the next phase would be negotiating around the price, which he said very often resulted in reductions of about 10-20%.
These outrageous drug prices...are not for slumdawg patients and insurance payers, but fine for Slumdawg the investor