$20Mil is a big deal. Any money in the bank is another quarter without a secondary. They could also use the money for a buy in on the biotest drug.
Kadcyla deal was made under a different management team at a time when IMGN as a company was hanging on a shoe string and unable to ensure the lights stayed on from month to month.
They managed to do a secondary at extraordinarily favorable terms at $40 per share roughly 14 years ago and have paid the price in terrible stock price ever since.
don't forget the potential conflict of interest since jeffries has one of the higher target prices for SGEN. Who knows what agreements are made during their drug fueled orgies.
$90 per share?
There's no telling what kind of impropriety these people exchanged with each other besides the sex and drugs.
there's no telling what other laws might be broken during a drug induced haze.
Is it a coincidence that Jeffries has one of the higher target prices for SGEN?
judging by the number of high level bankers committing "suicide" just in 2014, it's better NOT to mingle with the money people.
One guy reportedly shot himself with a nail gun 7 or 8 times, a few jumped in front of trains and others have jumped off buildings.
Something doesn't smell right because 15 suicides YTD just seems excessive to me.
Foolish shorts coming late to the game. After all this, it will still be a good year for IMGN.
"At the current price" seemed to have been emphasized. This implies that if the price jumps they will go for a secondary. I would like to think they are trying to protect the share price for us, but it's likely just because they wouldn't get enough money to issue shares right now.
At least the remainder of the fiscal year should see some news.
From a strictly short term perspective, it has been a giant steaming pile of poo.
From a long term perspective, I remain wildly optimistic that the stock price will get over $20 and then over my children's lifetime well over $100.
Who the heck has the patience to wait this long? I don't know, but I'm keeping some shares here just in case.
we all want to see a hockey stick price chart. Anything less will be management's failure to get their job done. (while I AM kidding, there's a thread of truth to my desires)
IMGN beta coefficient is something like 1.75 which means it's much more volatile than other stocks.
For the recent price swings, it has gone down in an up market and down in a bad market so it's no wonder all the price watchers are jumping up and down like they've got hot feet.
I too have a growing concern that if one or more institutions throws in the towel on their multi million dollar IMGN investments that sub $10 will come VERY quickly. I have no dry powder to take advantage of such a scenario but I also prefer not to see IMGN down in the single digits again.
This is a small time stock trying very hard to break into the major league. Unfortunately many investors still think the IMGN officers exist soley to do the bidding of small investors.
My opinion is if you hold more than 10% of the total float, you might be able to get an ear of an officer or a member of the board.
Demanding that officers take action to directly move the stock price is inherently unethical and dangerous for everyone.
Can/should investors demand IMGN seek partnerships or suitors for a takeover? I think IMGN actively seeking either would detract from getting the best price or terms. Due dilligence can take years while lawyers hash out the details and it's remarkably immature to demand it, not knowing what is going on the minds of the management.
A few things that keeps me positive in this stock is the growing body of evidence that the technology can get past the blood brain barrier which means if your cancer has metastasized to the brain, there is still a chance that continued treatment can lead to eventually being declared NED (no evidence of disease).
As long as you can stay NED for some number of years you would then be declared in remission and several years after that you will probably be considered cured.
Not too long ago a cancer patient's prospects dwindled rapidly once the cancer has metastasized (stage IV).
I remain hopeful for the share price.
a concerted effort by shorts can change retail investor sentiment on such a thinly traded stock. people make up stuff in their minds that some bad news is coming when there's a drop in price
the argument from the crotchety old investors is that all these drugs are carrots dangled before us with a payoff 10 to 15 years from today. Kadcyla was supposed to be the first of our success stories, unfortunately the next closest one is still a ways off.
My wife's cousin is a Dr and he once said to me with biotech investing, you buy a handful of small stocks and if you're lucky, one of them will make money. Will it be IMGN for me? it remains to be seen. I've made money here, but nowhere near what I believe we are capable of in the near future. ie 5ish years.