Welcome back Bob,
I believe the reason IMGN doesn't announce filing IND's is because the FDA often requests modifications or clarifications that delay the 30 day approval. Once 30 days are up, and approval's not been announced, investors fear the worse has happened.
Nearly every IND will eventually be approved, but IMHO the doubts caused by delays are not worth the slight gain that may be had by announcing the filing. IMGN will announce when the IND's approved, and I suspect they'll announce something about who will be doing the trial and the approximate timing.
I believe the next year will be even more profitable then the current year to those who have been long all year. I say this because I believe 2001 is when the question of efficacy for C242-DM1 will clearly be answered.
Furthermore, TAP Technology will become the platform that drugs intended for the cure of many forms of cancer and other diseases will be based upon. This will be demonstrated by several additional partnerships, similar to the partnerships with DNA and ABGX that will allow the partner to utilize the technology in developing new drugs with IMGN's approval, IMGN will receive a payment to initiate the partnerships, milestone payments as the drug progresses from pre clinical to approval, and royalties.
Five years from now IMGN should have virtually dozens of TAP drugs approaching approval in their pipeline, and a few approved drugs generating substantial income. The milestone payments are typically $40 million per drug, and normally they'll occur over a 5 year time span, which comes to an average of $8 million per year for each partnership drug in trial. You can easily see how 5 years from now just the milestone payments could total a few hundred million dollars a year.
As I said, the key to all this will be proven in 2001, we as investors need to give the company time to make things happen and we'll be very well rewarded.
Have a Happy and Healthy New Year's,
Gary |
