Re: IMCL
>…wouldn't it seem logical for them to diversify by acquiring some late stage programs? Perhaps getting a new CEO is part of an overall strategy to achieve that, rather than the idea that Lynch was an obstacle to a buyout.<
Sure, that could happen. I’ve never said that the buyout scenario was a sure thing or even a favorite.
However, I do think that some profitable mid-cap biotechs will be bought with the BP’s enormous cash hoard, and IMCL looks like as likely a candidate as any. The responders to our message board surveys #24 and #30 evidently agree.
By the way, IMCL Is not debt-free—they have convertible debt that was issued during 2004. It was a sensational deal for IMCL because the conversion price is more than $90 per share!