IMGN is in the best financial shape it's been in for years, it also has more of it's own and partners drugs advancing in trial. Most importantly, it has a drug in Phase 3 as well as several combined earlier phase trials that's producing positive results that's currently wholly owned, IMGN853.
Their is little doubt that IMGN853 will bring a huge ROW partnership after more trial results are revealed. Even if it should fail for futility in the monotherapy Phase 3 Trial, results in combination will assure eventual success, but I don't expect it to fail.
Their is little doubt in my mind that the Institution's who recently purchased shares at the $6.50 offering price at a substantial discount at the time are shaking the trees for more cheap share. Those who panic with this sort of manipulation sell while others, including these Institutions are buying all they can get.
As we go into technical conferences in November and December, I believe news that supports substantially higher prices will be released. I still believe that we'll be in double digits by the end of the year.
Gary
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