ImmunoGen Up on Positive Pipeline Data - Analyst Blog
April 10 2014 - 5:00PM
Zacks
ImmunoGen Inc.’s
(IMGN) shares have been up over a couple of trading sessions
following the company’s announcement of encouraging initial results
on its oncology candidate, IMGN853, on Apr 8. The stock has gained
over 8% since the announcement.
Results from the company’s research, which aimed at optimizing the
dosing of IMGN853, revealed that clinical activity has been seen
with the candidate starting at doses of 3.3 mg/kg.
ImmunoGen stated that dosing of IMGN853 as per adjusted ideal body
weight, rather than total body weight, would bring down the
variability among patients in the concentration of IMGN853 in their
blood. ImmunoGen has changed the dosing of IMGN853 as per adjusted
ideal body weight from total body weight in the ongoing phase I
study following its research insights.
The company intends to present additional data on the candidate in
the coming months. We note that ImmunoGen is currently evaluating
IMGN853 in a phase I study for the treatment of folate receptor α
(FRα)-positive cancer forms like ovarian, endometrial and lung
cancer.
We are encouraged by ImmunoGen’s progress with its pipeline so far.
Apart from IMGN853, the company also has IMGN529 (non-Hodgkin
lymphoma) and IMGN289 (different forms of cancer) in its pipeline.
We expect investor focus to remain on ImmunoGen’s pipeline.
ImmunoGen presently carries a Zacks Rank #1 (Strong Buy). Some
other stocks worth considering include Questcor
Pharmaceuticals, Inc. (QCOR), Alkermes
(ALKS) and Mallinckrodt (MNK). All the stocks
carry a Zacks Rank #1.
ALKERMES INC (ALKS): Free Stock Analysis Report
IMMUNOGEN INC (IMGN): Free Stock Analysis Report
MALLINCKRODT PL (MNK): Free Stock Analysis Report
QUESTCOR PHARMA (QCOR): Free Stock Analysis Report
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