Tuck,
I'm aware of others in the conjugate area, but frankly I don't follow them closely. I mention SGEN because they are the company IMGN has often been compared with, and frankly I cannot see how their market cap should be any where close to 13 times that of IMGN's, but it is. I view IMGN as dramatically under valued, but SGEN might be somewhat over valued as well.
I'd like to see the thoughts of someone who's more technically knowledgeable than me compare the two, but regardless of what they've done in the past, what's really important is what current drugs in or about to enter trials do. Practically any of the drugs both companies are working on have blockbuster potential. I believe that IMGN853 will have that sort of potential in U.S. sales alone, which they intend to keep to themselves. I think if IMGN were earning hundreds of millions annually, it's price would be greater than SGEN's is today, I see that being possible by 2021, however it could come far sooner depending on the terms of a partnership for ROW rights with IMGN853.
Gary
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