ImmunoGen Inc (IMGN)

[vinmantoo]

We are offering $200,000,000 of shares of our common stock. Our common stock is listed on The Nasdaq Global Select Market under the symbol “IMGN.” On May 2, 2023, the last reported sale price of our common stock on The Nasdaq Global Select Market was $5.20 per share.

The price of the offering HASN'T been set yet. The $5.20 price was the price of IMGN stock YESTERDAY. It is NOT the offering price NOW. I notice you posted a lot at the First Republic Bank Ihub site so are likely unfamiliar with Biotech. I will be kind and say that your error in saying the IMGN offering price would be $5 stems from that unfamiliarity rather than a deliberate effort to mislead. If I were to guess, I would say the initial offering would be close to $10.

It seems you missed this part.

ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that it intends to offer and sell, subject to market and other conditions, $200 million of shares of its common stock in an underwritten public offering. ImmunoGen also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the number of shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. All of the shares of common stock to be sold in the offering are to be offered by ImmunoGen. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

https://investor.immunogen.com/news-releases/news-release-details/immunogen-announces-proposed-public-offering-common-stock-3

It is fairly common for a biotech stock price to increase after a small offering following good trial data, like what IMGN released today regarding MIRASOL. If you were familiar with Biotech you would know that.

In case you are still confused, here is another link that might help you. As you can see, the price hasn't been set.

https://ih.advfn.com/stock-market/NASDAQ/immunogen-IMGN/stock-news/90948157/prospectus-filed-pursuant-to-rule-424b5-424b5