- Yes, started at $38, ended at $12.60
No revenue to speak of. Lost $155 million. received final EU approval in March, after prelim approval in late 2010 that had sent the stock soaring. Diluted capital in 2011 and showed almost nothing for the year, putting the shares where they probably belong unless there is really hidden assets in their potential.
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A better kind of question is what makes this company a $3 billion market capitalization, bleeding money.
Groupon is a $4 billion, not much bigger. At least they have revenue of $3 billion a year. They also lose money, but not as fast.
The stock is very volatile, and there is little bad news about the drugs themselves, so if their sales potential is real, it could do well. It is just volatility in a big gamble.
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Details:
http://finance.yahoo.com/echarts?s=ITMN+...
Up until the week of checking for a history back 4 years.
May 24, 2010 $9.12
May 24, 2010 to Dec 16, 2010 $8.58 to $15.48 range
InterMune Announces Positive Opinion for Approval of Esbriet(TM) (Pirfenidone) in European Union
December 17, 2010 closes at $34.89 up 144% in one day.
Dec 17, 2010 through Aug 3, 2011 $30's up to $51 a share
2nd quarter 2011 results and release dropped the stock over a few days
Aug 3, 2011 through February 24, 2014 $20's down to $8 or so and back into the teens in a volatile manner
InterMune Reports Phase 3 ASCEND Trial Results of Pirfenidone in Idiopathic Pulmonary Fibrosis (IPF)
February 25, 2014 shows $37.8 and high $20's to $30's since.
Very voltatile stock
Net income: Lost money, $220 million in 2013, $150 million in 2012, $155 million in 2011
At end of 2012, balance sheet book value down to $66 million. They have cash and debt.
They issued stock in 2013 to raise cash, and a 2013 price drop could be this issue of shares.
The rise was over a number of days. Esbriet
2011-03-09 45.34
2011-03-08 44.53
2011-03-07 44.24
2011-03-04 44.31
2011-03-03 40.23
2011-03-02 37.17
2011-03-01 36.63
2011-02-28 36.61
2011-02-25 37.38
Esbriet EU jump was earlier at December 17, 2010 closes at $34.89 up 144% in one day
Agreed it is very volatile to any news and any rumors and also by share dilution when they dump loads of shares on the market to buy, and any debt.
The company revenue is rising, but it is far short of expenses including R&D, so they are bleeding money and have been for years, and keep re-financing with more shares and debt issues, and a quarterly report can decimate them as they disappoint of more spending and no earnings and re-announce dilution.
When they get good news about a drug, it rises wildly with no justification except buyers eating up shares - sellers vs buyers where the company news and reports do not justify anything like it.
If they can be a success one day, maybe the future earnings would support a market capitalization of over $3 Billion, when gross revenue was $70 million last quarter, and bleeding cash.
So, there has not been significant events other than what I show to cause huge change, and the company operations and earnings announcements can cause large drops, but a sprinkle of news sends it jumping up on hopes of riches.
Maybe find news on Yahoo Finance chat board for the stock, because it seems like a pump and dump type investment.
The European approval has not added great wealth to the company.
On March 3rd, they received European approval for their orphan drug Esbriet which sent their stock up from $37 to $45......
then the stock gradually went down throughout the remainder of 2011, plummeting to $11. ----I'm not sure what news prompted this decline: what caused this to happen?
It seems odd that the stock would be worth a lot less AFTER receiving European approval than before.
I know they've been trying to get it approved in the U.S. but i'm not sure what particularly in the year 2011 happened that caused this decline. I know the FDA rejected Esbriet in 2010 but that was a different year.
