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
IMGN doesn't really have a product to sell. I can imagine a PDL like scenario where IMGN lays off most of its staff and collects royalties on partnered products and gives us cash and dividends.
Biotechs are tanking today again. Is it just profit taking from last Friday's surge? Typical rotation? Typical moneypulation? Or signs of strong economy will lead to early increase in interest rates?
I'm guessing that SGEN will be bought out before it even becomes profitable, just like many biotechs that have been bought out.
You should have bought shares early this morning because this will be higher than 17 by year end. $10 Jan call options are still cheap.
I'm afraid I have to agree that the internal pipeline is high risk. It seems like IMGN scientists and mgmt are not the best ADC target pickers. The near term addition to Kadcyla revenue will come from the partnered products.
901 is gone from the pipeline. 289 and 529 are too early. SAR3419 will be joining a crowded field of CD19 targeted molecules. Maybe 853 will still work despite Endocyte's failure, but 853 dosing seems complex. If BT ADCs continue to show promise, IMGN should opt in, and shut down their own internal pipeline trials unless they can also partner those risky ADCs.
Pretty impressive numbers for long term fx:
The analysis of the topline data showed that after 16 weeks, mean visual acuity improvement from baseline was 8.2 letters for abicipar pegol 2mg, 6.3 letters for abicipar pegol 1mg, and 5.3 letters for ranibizumab. After 20 weeks, mean visual acuity improvement from baseline was 9.0 letters for abicipar pegol 2mg, 7.1 letters for abicipar pegol 1mg, and 4.7 letters for ranibizumab.
Are you saying LPath has a #$%$ product, but that Isonep will be approved anyway after an initial CRL?
Seriously, though, I hope Alfrezza works well for your diabetes, Charles.
...until he gets pps to $40.
Pancoast expects that in less than a year, by March 2015 to be exact, the pps should get to $40.25, and he will be collecting his regular pay, plus a 10% bonus from Charlie.
Decent close today on a biotech beating day.