Canaccord Genuity on ImmunoGen (IMGN): Keeping Abreast of Things
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Price: $31.25 --0%
Rating Summary:
5 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
Rating Summary:
5 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
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Canaccord Genuity on ImmunoGen (Nasdaq: IMGN): Keeping abreast of things.
Canaccord analyst says, "ImmunoGen’s told investors its experimental drug T-DM1 was successful in a mid-stage study. The study involved 137 patients and focused on the drug candidate as an initial treatment for breast cancer. ImmunoGen and Swiss partner Roche disclosed T-DM1 kept breast tumours at bay for “significantly longer” than a treatment that involved chemotherapy and another cancer drug called Herceptin. The patients, whose tumours were linked to the HER2 protein and who hadn’t been given previous therapy, also experienced fewer side effects, the companies said. “This top-line information about T- DM1's performance in the first-line setting is very encouraging and adds to the favourable efficacy and safety data reported across a number of T-DM1 studies,” commented ImmunoGen President and CEO Daniel Junius. In August, the FDA denied the companies' request for accelerated approval of the drug candidate as a third-line treatment, sending ImmunoGen shares plummeting. The agency said the drug candidate failed to meet the standard for accelerated approval. It is not yet clear how this study will impact on the FDA’s decision. Detailed findings from the study will be presented at a future medical congress, the companies said. Breast cancer is the most common malignancy in females and strikes about 1 million women a year globally, according to the Geneva-based World Health Organization."
Canaccord analyst says, "ImmunoGen’s told investors its experimental drug T-DM1 was successful in a mid-stage study. The study involved 137 patients and focused on the drug candidate as an initial treatment for breast cancer. ImmunoGen and Swiss partner Roche disclosed T-DM1 kept breast tumours at bay for “significantly longer” than a treatment that involved chemotherapy and another cancer drug called Herceptin. The patients, whose tumours were linked to the HER2 protein and who hadn’t been given previous therapy, also experienced fewer side effects, the companies said. “This top-line information about T- DM1's performance in the first-line setting is very encouraging and adds to the favourable efficacy and safety data reported across a number of T-DM1 studies,” commented ImmunoGen President and CEO Daniel Junius. In August, the FDA denied the companies' request for accelerated approval of the drug candidate as a third-line treatment, sending ImmunoGen shares plummeting. The agency said the drug candidate failed to meet the standard for accelerated approval. It is not yet clear how this study will impact on the FDA’s decision. Detailed findings from the study will be presented at a future medical congress, the companies said. Breast cancer is the most common malignancy in females and strikes about 1 million women a year globally, according to the Geneva-based World Health Organization."
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