Thanks,
It wouldn't be surprising at all to see $15 or more next week, but at some point I suspect we'll give back at least 30% of the most recent gain, perhaps roughly $1 or so off the high before advancing further. It sounds like Ohad is back in, whether he's invested yet or not.
While the majority of my money's in IMGN, I also have high hopes for AEZS, their recently released data from AEZS-108 look good in Prostate Cancer, but the big mover of their stock price should be top line data from the Phase III Perifosine trial which could end any day. I believe this stock is dramatically underpriced at this time, while IMGN is properly priced. If T-DM1is approved, or about to be by year's end, I believe we'll rightfully be in the $20's. If the same holds true for Perifosine, I believe AEZS should be double digits which is more than 5 times where it is today.
Take a look at AEZS-108, it too is a conjugate, but not of an MAB. AEZS like IMGN represents a pipeline technology with the potential of eventually putting dozens of drugs in the clinic. At this price it's getting little respect, which is also often true of Canadian Companies. Actually it has more employees in Germany than anywhere else. Perifosine has been partnered for North America to KERX who's done the heavy lifting with the FDA, in Phase III they've entered other regional partnerships in various places in the world, but other than the fact that European Authorities have agreed to accept what's provided to the FDA for consideration, they've not established if they intend to partner Europe, or keep it for themselves. AEZS does have the production capability to meet initial post approval demands for the drug, I'm uncertain if expansion of that capability will be necessary shortly after approvals or not.
IMGN will have several shots on goal out of their own labs shortly. With T-DM1 revenue kicking in by 2013 it will be interesting to see if they limit partnerships to areas of the world where they don't wish to deal in themselves. Keeping the North American and European Markets could be a huge step in the right direction IMHO. Regardless, with the pipeline exceeding a dozen drugs in trials, which should happen this year, even if we fall slightly short of approval of roughly a third of drugs entering the clinic, IMGN could become a major Biotech before the end of this decade.
Gary |
