Overnight Market report, page-1745

Research study:
Financial markets responded favorably to fast track announcements with abnormal stock returns that average about 9 percent across several alternative benchmarking techniques. Specifically, they studied 107 fast track announcements that occurred between 1998 and 2004. They also identified that the abnormal stock returns were highest among smaller firms, firms that have yet to commercialize a product, and firms with low levels of institutional ownership.

IMM should have fairly high percentage return with FDA approval as it fits into the category of "firms that have yet to commercialize a product, and firms with low levels of institutional ownership."

Although, takeover or partnership deals are very likely