Scotty,
As a long time holder of IMGN I've been extremely frustrated by their failures. However, I still look at where they are, and what I expect for the future, and I remain invested, and even add to my position. I believe the same applies here. It's not where we've been, it's where we're going.
I've not been a long time investors, just roughly a year and a half, and I certainly see the frustrations, but I also see the belief from most investors that the vaccines work. If that is true, the company cannot help but be successful when results are finally released.
Please don't get me wrong, I cannot guarantee the FDA will approve based on the vaccine working, but I believe the least that will occur would be the company partnering it, and the partner paying for whatever the FDA insisted on. Just the partnership would generate success for investors to date, and while an FDA delay would hurt whatever the share price was at that time, I don't believe it would bring it anywhere close to as low as it is today. I'm not predicting such a problem, but over the years I've learned that nothing is guaranteed when it comes to the FDA.
Gary