I've looked at the options and believe the $4 calls for January offer a great chance for tremendous appreciation as IMGN will have numerous opportunities to present positive information between now and then. Should IMGN853 gain a ROW partnership during this time I believe double digits will be seen. Should that occur, without using margin or cash from my account I could add thousands of shares by only selling a small part of the options I purchased.
Over the years I've seen IMGN up and down throughout it's history. I still believe the potential today, depending on what's reported in the many drug trials it and it's partners have running, could be higher than at any other time in it's history. Certainly IMGN853 has been delayed in the U.S., but they won't be denied with a properly designed trial. The question is, will others follow the FDA, or be willing to review the data and recognize a substantial patient group could benefit from the drug today, it makes little sense to deny that. If a partnership occurs for ROW, I believe that partner will convince the authorities that a limited approval, with a Phase 4 required for all who get the drug, will be authorized.
I'm a big believer that all approved drugs should go into a Phase 4 where all results of its use are reported. It doesn't need to be a big effort if unexpected results aren't seen, but it also provides a way of seeing how it's being used off label, and learning about the result there might be the most valuable thing that happens. I don't believe that any new drug doesn't get used off label, either in terms of being tried for other diseases, or being used in ways that differ from the approved protocol for the drug. I believe many can learn from the documentation that could be found in Phase 4, but it would not allow for drug makers to hide bad results under settlements made with confidentiality agreements.