ImmunoGen Inc (IMGN)

[skitahoe]

Amazing how the Institutions who own 92% of IMGN can shake the trees to get more. Friday they worked on the $16 options for November and today they are looking to buy more for substantially less.

Gary

[skitahoe]

IMGN cited by IBD:

https://www.investors.com/news/technology/biotech-stocks-the-top-5-to-watch-amid-a-blazing-hot-run/?src=A00220

Gary

[vinmantoo]

After hour volume was over 2 million shares, down $.53.

It is meaningless after hours trades. There was a buy of 1.5 million at $15.98. About 30 minutes later there was a 200 share buy at $15.45 and that is the price you are seeing. Nothing to be worried about.

https://www.nasdaq.com/market-activity/stocks/imgn/after-hours-trades

[skitahoe]

After hour volume was over 2 million shares, down $.53. I have no idea what's going on, or if someone knows something that the rest of us don't, but 2 million share after hours is extreme. Anyone know what's behind this.

Gary

[52172]

Shake the weak I aint leaving till 80 plus diamond hands wast money here. When the xbi recoils this will hit triple digits

[52172]

Wtf 600,000 shares dumped in first couple minutes?

[vinmantoo]

IMGN earnings call. Very positive outlook.

https://www.insidermonkey.com/blog/immunogen-inc-nasdaqimgn-q3-2023-earnings-call-transcript-1216225/?singlepage=1

[52172]

Were GOLDEN

[vinmantoo]

Sadly we failed to hold the higher prices.

That doesn't matter. Elahere sales for Q3 beat expectations and came in at $105 million and net income of $30 million or $0.10 per share for $210 million in sales for the first 9 month of this year. IMGN has just over $600 million in cash and cash equivalents on hand now.

IMGN also reported that Elahere met the primary end point of ORR in PSOC in the PICCOLO trial, an open label phase 2 trial. Full data is expected by mid 2024 but an ORR of at least 48% is expected. The PSOC market is twice as large as PROC, which is the indication that IMGN has submitted for full approval in both the US and Europe based on the stellar MIRASOL phase 3 trial data.

https://finance.yahoo.com/news/immunogen-reports-recent-progress-third-103000189.html

[skitahoe]

Sadly we failed to hold the higher prices. With no news at all NWBO achieved a greater percentage gain.

I'm still of the belief that we should end the year closer to $20 if not in the $20's, but it may be subject to the news released between now and then.

Gary

[vinmantoo]

Blowout earnings report propelling a nice rise in the stock price today. Congrats to all us IMGN shareholders!!

[vinmantoo]

I'm not looking for a buyout for years, then a few more drugs should be approved, the stock should be at or near triple digits, and a buyout should approach that of SGEN's.

I agree although I am not so sure about triple digits.

[52172]

Were on the same page brother

[skitahoe]

New S-A article on IMGN.

https://seekingalpha.com/article/4645518-analyzing-the-acquisition-potential-of-immunogen?mailingid=33209389&messageid=2800&serial=33209389.67&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=33209389.67

I'm not looking for a buyout for years, then a few more drugs should be approved, the stock should be at or near triple digits, and a buyout should approach that of SGEN's.

Gary

[52172]

https://investor.immunogen.com/node/22166/pdf

[52172]

We dont want a bo until full approval and our pipe matures. Not selling for anything less that 15B

[vinmantoo]

I don’t want a buyout yet. IMGN is about to get full FDA approval for Elahere and blowout earnings coming up. A buyout now would have to be for at least triple the current price.

[skitahoe]

There is a lot of chatter about a buyout. I wouldn't hold my breath.

Gary

[vinmantoo]

What a ride the past two days have been!

[vinmantoo]

Earnings are on Nov 2nd.

[vinmantoo]

Feeling pretty good about the additional share I bought yesterday!

[52172]

Whens our webcast?

[52172]

Been a brutal month here first began with the xbi getting destroyed from the higher yields and this latest drop is worrisome but i am still bullish on a future bo and elahere sales ramping up. I dont think merck teaming up with our phase 1 competitor has anything to do with it.

[skitahoe]

It's roughly 2 weeks from when I expect the company will be conducting their 3rd quarter webcast. I expect the financials will be positive, on sales of Elahere, but more importantly, I believe they'll reveal upcoming conference appearances which should reveal new positive data in ongoing trials. Greater earnings will certainly help the share price, but new drugs approaching approval boosts the long term potential, and if we should be headed toward a buyout, it certainly substantially increases what the purchase price should be.

Gary

[52172]

Yessir its whats coming

[52172]

20’s incoming

[52172]

Nice ah trade

[skitahoe]

While it would be hard to turn down over twice our current price, I really believe we can be worth so much more than that once we expand the use of Elahere to most of the world and bring other products to market. I think $20 to $30 billion would be a bargain, but no company will pay that large a premium. Give it a little time to reach share prices in the $20's or $30's and if you insist on a buyout perhaps it will come at a number far more acceptable to me.

Gary

[teifhals]

Id prefer a 10B buyout by end of next week.

[skitahoe]

Here's a new Yahoo report on what Analysts think about IMGN.

https://finance.yahoo.com/news/wall-street-analysts-think-immunogen-135503010.html

Personally I believe we'll end this year at of near 52 week highs.

Gary

[52172]

We have clearance for take off into earnings see you in the 20’s

[52172]

https://stocktwits.com/fda_tracker/message/545625912

[skitahoe]

Just heard that it was Merkle cell cancer that killed Jimmy Buffet, I know IMGN had some success with it, I wonder if their drug was considered for treatment.

Gary

[skitahoe]

For those of us who've been involved in IMGN for decades, now's not the time to get anxious about being sold out regardless of the price, this is when IMGN has the opportunity to fly, a buyout may sound great, but all share price growth stops there. In just a few years IMGN could be trading in triple digits if it's drugs are permitted to reach the market.

Gary

[vinmantoo]

This partnership in Japan will add 34m to our earning reports so things are looking good.

There is more money coming, and soon.

Under the terms of the collaboration and license agreement, ImmunoGen will receive a one-time, upfront payment and an additional payment upon conversion of US Food and Drug Administration (FDA) accelerated approval of ELAHERE in platinum-resistant ovarian cancer (PROC) to full approval.

That is from the IMGN web site which announced the deal with Takeda.

https://investor.immunogen.com/news-releases/news-release-details/immunogen-announces-collaboration-takeda-develop-and

[52172]

47m shares traded ah? Whose rebalancing?

[52172]

Agree 100% bo later next year is what we want. This partnership in Japan will add 34m to our earning reports so things are looking good.

[skitahoe]

I agree, there are investors who believe we'll be bought out, I'm not one of them, and frankly I hope not until such time as we're trading dramatically higher than we are today. I don't believe any offer would come in for more than double the current price. Once we're at $30 or more I'd be okay with double that, but for less than that I believe we'd be leaving a lot of money on the table as other drugs in development move to approvals.

Gary

[vinmantoo]

Today's news ought to be good news, but the Street has apparently taken it the other way. The $34 million is viewed as too small, without recognizing that more will be coming with FDA approval of the Mirasol data, probably early next year. Of course, then come the royalties on sales.

I was reading what Dew Diligence wrote on the BioTech values board and his comment makes sense. This deal is good news for IMGN investors but likely those who came on board late were looking for a quick buck due to a buyout offer. The negative reaction to the deal with Takeda must be that it lessens the possibility of a buyout, at least in the near term as IMGN is making deals to expand Elahere sales. The drop today doesn't bother me as IMGN is bouncing back before the close today. It wouldn't surprise me to see IMGN get it all back tomorrow as investors look at this drop as a buying opportunity.

[skitahoe]

Today's news ought to be good news, but the Street has apparently taken it the other way. The $34 million is viewed as too small, without recognizing that more will be coming with FDA approval of the Mirasol data, probably early next year. Of course, then come the royalties on sales.

Don't know why, but good news often goes this way with IMGN. Quarterlies beat consensus in a big way, we were down. It doesn't make much sense, but in the long run we should be up.

Gary

[52172]

Headed to upper twenties

[EDTOR]

Something is afoot. This thing is running like a scalded dog after have been beat down over the last week. After a great quarter, the selling had been relentless without justification and had become oversold. My spidey sense is that good news is about to be disclosed on IMGN.

[rwwine]

Wholeheartedly agree!! Tomorrow I step in and grab some shares before it takes that next leg up. Thanks for making me aware of this opportunity sir!!

[skitahoe]

A 30% or greater retrenching is normal after this big gain. Hopefully we're about at the bottom and are positioned for new highs in the future.

Gary
.

[vinmantoo]

I never expected IMGN would drop so much so quickly on zero moves so I bought more this morning at $14.40.

[52172]

On bounce patrol!

[skitahoe]

It's true that the technical conferences that IMGN should be reporting at aren't till later in the year. However, IMGN has mentioned speaking with the Japanese, and China could hit a milestone at any time, so the potential for surprises is still quite possible.

Gary

[vinmantoo]

Just some rotation.

IMGN has had a dramatic stock price rise based on the stellar data from MIRASOL rise and the next news event isn't going to happen for a few months. It isn't surprising that the stock price has been fluctuating a bit. Long and strong.

[Beerworld]

Just some rotation. The question has been for years. Investors want them to keep all the rights to their drugs while IMGN goes a more conservative route by having licensing agreements.

[52172]

A lot of insider sells, but their options were probably expiring and it was time to geg paid after being down for so long. No worries we know where this is headed rest of year.