|The market pricing in biotech's is all over the map. HGSI was less than 50 cents a share last year, DNDN was under #2.75, I'm sure I could find several examples that would look much like that. |
$4 doesn't price ANY of IMMU's pipeline products as being successful, NONE. For that matter, $12 doesn't either, all $12 would suggest is that the market has raised the possibility of success in a product.
I'm not invested in this company for market sentiment. There are those who would buy shares at $3 betting on the greater fool theory, that someone will pay them more than they paid because of past stock action. That is fine, that makes a market, but it doesn't take into consideration an approved hPAM4 or E-mab.
If an offer of $12 or $15 came in, it would be from a company that feels the market is mis-pricing the company, and more than likely it would be offering a low ball number as compared to what it thinks the company is worth.
Since UCB has access to information that we (the market) doesn't, I doubt they could mount a takeover since they would have insider information, just like they probably can't buy shares. They know data we don't know, long term SLE data, etc.
If anyone noticed, on slide #89 in Dr. Leonard's presentation, it said that the ALL trial with E-mab should reach the target enrollment this year. The key primary outcome measure is "Event free survival at 4 months", so it won't take long to finish evaluating the data in this trial, could be by the end of the first quarter of 2011.