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Biotech / Medical : Immunomedics (IMMU) - moderated
IMMU 85.20-0.1%3:36 PM EDT

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To: idahoranch1 who wrote (45916)4/26/2018 5:42:27 PM
From: erickerickson9 Recommendations

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I think the other interesting thing about the short numbers is the increase lately. The month of March saw, what, a 2M+ increase in short positions? I find it unlikely that those are covered. Unlike quite a number of the number of short shares we've had for a long time, these are much more risky.

I agree with Mr. Ranch though: Unlike in the past, I don't think they're as much of a concern for a number of reasons:

1> there's a higher percentage of shares held by institutions which I think are less inclined to panic. Witness the drop in March, no real "run for the exits" reactions.

2> 50% swings are harder to "encourage" by shorting at this point. IMMU's corporate strength is vastly improved; inducing panic is harder. We're not in danger of getting "going concern" letters.

3> Unlike in the past, someone shorting IMMU has to be concerned about a perfect storm of good news.

Likely/expected:
> BLA submission
> ASCO presentation
> BLA approval

Possible
> BTD for UC
> BTD (or good news) for hormone receptor positive breast cancer (WOW!)
> Partnerships for other compounds
> news about 132 for other indications

All the while without any fear that we'd run out of money before year's end (pick your year in the past). Spending will (and already has) increased, but there's a lot of money in the bank.

Not to mention the quality of the new people on boarded recently. It's hard to imagine they're either desperate or being fooled by smoke and mirrors; I'm pretty confident theres some "there" there.

And I do have to say I still have whiplash from how expectations are changing. In the past, any quick jumps were untrustworthy; I kept wondering when the bad news would come along and depress the price again.

Now we get good news and, well, I rather expect more good news. At least that's the hope.

And anyone notice that when we get good news it's much more likely that the price increases? What's with that? More whiplash...

Erick
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