Cramer was bearish on
Cancer Treatment Breakthrough?
In his second "Executive Decision" segment, Cramer sat down with Daniel Junius, president and CEO of
(IMGN - Get Report)
, a speculative biotech developing the next generation of cancer-fighting drugs. ImmunoGen just received Food and Drug Administration approval for its latest breast cancer drug, T-DM1.
Junius said T-DM1 is a big breakthrough in breast cancer treatments and the drug should be available to patients within the next two weeks. He said it's exciting for both its therapeutic value but also because it will provide ImmunoGen a steady revenue stream for its other drugs in the pipeline.
Among those other drugs are IMGN-853, which is in early-stage testing to treat ovarian cancer, and IMGN-901, to treat small-cell lung cancer. Junius said the 853 is an important compound for the company and could lead to other indications, while 901 is showing encouraging results in prolonging life where there hasn't been any new treatments in 25 years.
Junius also stressed the importance of these early-stage trials. He explained that time is money for the company, so getting patients into studies quickly allows them to make important go or no-go decision early so they can focus on only the most promising compounds.
Cramer called ImmunoGen one of the least hyped but still most important speculative biotech news out there for investors.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer posed this question: Have hedge funds become too powerful? He said David Einhorn suing
over its cash hoards is just the tip of the iceberg. Other activist investors have taken aim at
, among countless others.
Cramer said that Apple has soared 6,300% over the past decade -- doesn't that give the company some benefit of the doubt? He said Einhorn needs to accept Apple for what it is -- the company is only playing by the rules and, in the end, shareholders have little to gain from his proposals.
Cramer said these activist actions are far less about doing good for shareholders as they are ways for hedge funds to prop up their performance. These guys need to admit they were wrong and just sell their positions, he concluded.
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-- Written by Scott Rutt in Washington, D.C.
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