IDM Pharma, Inc. (IDMI)

[bowonwing]

"Smart money" bought 7.1 million shares of IDMI last week @$3.50 per share.
6/27/07 close $2.83. Go figure.

Current price at $2.83 does not make sense to me. "Street" is saying no approval based on current price.

But Cantor Fitzgerald analyst Pamela Bassett says Junovan will be approved and become a "PRODUCT PLATFORM with potential to become a broadly used immunotherapeutic to treat metastatic disease in multiple cancers ... ." This was after the 12 to 2 panel recommendation against approving Junovan. If she is right, it will be the call of the century. If I understand what Bassett is saying, Junovan could be a platform leading to other cancer drugs. If this is true, then the FDA might approve Junovan to keep it's potential viable. But I really do not know.

As of today, the reality is that the approval of Junovan is not likely based on panel vote. But Bassett might know something we don't. This is what Bassett does. It does not make sense to me that she would go out on a limb with her call and target price of $11.00 for IDMI, (but after the additional shares new target price works out to $6.60 a share.)

I bought last week on the sell off and am hanging on. Right now it does not appear to have been the right call, I'm down 11% as of todays close. That said, now is the time to make the call to buy or stay away. IDMI can move very quickly. Tuff call though, but to be honest, if I was not already on board, I would wait, price might go lower before it goes higher.