If you listened into the quarterly webcast, I believe you'd be encouraged by the likelihood of IMGN853 gaining an approval. At this point the really big question is when. If things go well in meetings with the FDA, they'll submit a BLA this year, meaning it should happen next year. On the other hand if the FDA wants to see more data as a monotherapy, approval could come from one or more of the trials they're doing in combination with other drugs, though they're Phase 2 Trials. Of course sooner is better than later, but approval at any time should have the share price and market cap a substantial multiple of where it is today.
As things stand, SGEN has a market cap that's roughly 25 times what IMGN's is. I believe that if IMGN853 is approved, and SGEN has no additional approval by that time, IMGN ought to be at parity with SGEN, or perhaps even better. I'm not saying this will be the case, but a comparison of the companies would suggest it to knowledgeable investors and Analysts.
Gary |
