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Biotech / Medical : Immunomedics (IMMU) - moderated
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To: Davidoff who wrote (62952)12/5/2024 1:49:00 AM
From: stockdoc773 Recommendations

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They were facing delisting because the stock price was so low. Hence the reverse split to comply with NASDAQ requirements. BLUE is a strange company. They have essentially a cure for sickle cell anemia with their gene therapy, but they have very low capacity to treat patients (I think they can do less than 100 patients per year). They are bleeding cash and have little prospect of turning things around. But their tech and the tax loss carry forward within the company makes it appear to me that they should be bought out by someone, and the buyout price should be some multiple of 140 million, which is the current market cap. I would be happy with 3 dollars per share (pre-split, now I would like to see 60 dollars). Sitting on several hundred k loss at the moment, but holding on for someone to buy this company.
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