You are fooling no one that you’d have made meaningful money in a pre revenue biotech company like IMGN, particularly after holding for close to 40 years. How much dilution did you endure during that journey and what about the opportunity cost? Opps I forget opportunity cost is a foreign concept for NWBO pumpers, and that averaging down for decades is a winning strategy, LOL! ;)
Happy for you if you broke even after 40 years of holding. Be prepared to keep the dry powder for another decade or two, just like IMGN. LP will provide plenty of opportunities to average down from where we are.