I'm of the belief that ASCO will be big for IMGN and have purchased July 7 calls in that belief.
With the exception of IMGN 853, most of the news in the immediate future that should buoy the price ought to come from drugs licensed to partners. I believe that several are reporting at ASCO, and some of these drugs are close to elevating trials to the next level, some of which will be Phase III's. Of particular interest is BT-062 which IMGN does have Opt-In rights for. It's clear that Biotest want to partner the drug, which probably indicates IMGN doesn't intend to Opt-In. t has several of it's own drugs in trials, it's my belief that they've chosen to put their money into development of wholly owned drugs rather than backing a drug they'd still just have partial ownership of.
IMGN's new CEO in his first presentation made it pretty clear that they intended to keep 853 in house through the approval process. I believe that if successful in doing this, they'll contract for things like distribution, sales, and possibly production of the drug, but that can be done for much greater profits than if they partner the drug. Of course this could just be posturing, if the right offer comes in for the drug, I suspect they'll take it. Meanwhile, several other wholly owned products are proceeding into early phase trials in the clinic, we should be seeing lots of information over the next several years.
Gary |
