James, around 400,000 of those shares seemed to be in the last 1/2 hour, and continued to force the price up.
Over on the Yahoo board, someone posted stuff from Sunspot Business Journal, or something like that. To quote:
"The article in Sun spot discusses the recent news-big gains, Phizer, etc. Not only did they sell Phizer the Tech. but they also supply special fluids and materials to conduct the tests.
Thus assuring a steady revenue stream. It does not say what the
licensing agreement was that Boeringer Mannheim of Germany violated. The deal called for a $50M payment and 9% sales
royalty. BM is now owned by Hoffman-LaRoche. Joseph L Besecker, founder and chairman of Emerald Asset Management, a mony management
firm in Lancaster, PA believes Igen could see a $250M to $600M lump sum buyout of the royalty agreement from HL if it agrees to
settle the lawsuit. Besecker was bullish enough on the compamy to pick it as one of his favorite small-cap picks in an interview
with Bloomberg News 3/14. In B's view, a lot of the early run up was driven by anallysts expectations that HL will settle. But
now, he said, Wall Street is beginning to appreciate the core technology of this company. I think the stock is still undervalued.
Geroge Migausky CFO of Igen is hoping the screening system becomes the industry standard of the diagnostic market.
B says he's focused on the company's long-term potential rather than short term erarnings. He is also bullish on founder and Chairman Samuel Wohlstatler who helped to launch Amgen, Inc. the
most profitable biotech company in the country. "
By the way, on Zack's, some analyst finally gave Igen a strong buy, for what it's worth.
As for the Roche buying it's license for clinical labs, the price will be at least 500 million, IMO. Possibly quite a bit higher. I would think the price will include a nonexclusive license for POC. This deal seems like it would be a ways off, but it seems this idea has been around for awhile. But the longer talks go on, the higher the price will be since the worth goes up and the uncertainy goes down. If all else fails, Igen will almost certainly win in court.
I wonder what Igen really thinks the potential for the research instruments are? I know I think it is big, but I have tended to underestimate these things with Igen. Plus the POC seems to be bigger and nearer in the future than I have estimated. There is no reason for me to sell, and I think your right about the tape saying don't sell now.
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