ImmunoGen, Inc. IMGN announced that data from a 46-patient phase I expansion cohort study on its lead pipeline candidate, mirvetuximab soravtansine (IMGN853), were published in the Journal of Clinical Oncology. The study was conducted in patients with folate receptor alpha (FRα)-positive platinum-resistant ovarian cancer. ImmunoGen’s one-month share price movement shows that the stock has significantly underperformed the Zacks classified Medical – Drugs industry. Specifically, the company lost 9% during this period, while the industry gained 1%. In the study, all 46 patients demonstrated a confirmed response rate of 26% and median progression-free survival (PFS) of 4.8 months. Among them, 23 patients, who received up to three or fewer prior regimens and had low, medium or high FRα expression, exhibited an objective response rate (ORR) of 39% and median PFS of 6.7 months. On the safety front, the candidate was found to be well tolerated with side effects being mostly grade 1 or 2 (least severe grades). On the basis of these data, the company has initiated the phase III study, FORWARD I. The study will evaluate mirvetuximab soravtansine as single-agent therapy in patients with platinum-resistant ovarian cancer who previously received up to three treatment regimens and whose cancer has a medium or high FRα expression. This patient group exhibited a 44% ORR and a median PFS of 6.7 months in the phase I expansion cohort. Meanwhile, mirvetuximab soravtansine, in combination with other regimens, is being evaluated in phase Ib/II FORWARD II study for the treatment of both platinum-resistant and platinum-sensitive disease. The company expects to begin reporting data from the study in mid 2017. Per ImmunoGen’s press release, approximately 22,300 new cases of ovarian cancer are likely to be diagnosed in the U.S. in 2016, which would lead to more than 14,200 deaths. The company estimates that 60% of ovarian cancer cases have medium or high FRα expression. This indicates significant market opportunity for mirvetuximab soravtansine, if approved. Going forward, we expect investor focus to remain on updates pertaining to the development of mirvetuximab soravtansine. Zacks Rank & Key Picks
ImmunoGen currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include Heska Corporation (
HSKA Quick Quote HSKA - Free Report) , Cambrex Corporation CBM and Vanda Pharmaceuticals Inc. VNDA. Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Heska’s earnings estimates increased from $1.13 to $1.35 for 2016 and from $1.38 to $1.53 for 2017 over the last 60 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 301.64%. Its share price has increased 87.6% year to date.
Cambrex’s earnings estimates increased from $2.46 to $2.55 for 2016 and from $2.91 to $3.06 for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 19.78%. Its share price has increased 13.9% year to date.
Vanda’s loss estimates have narrowed from 62 cents to 45 cents for 2016 over the last 60 days. The company has posted a positive earnings surprise in three of the four trailing quarters with an average beat of 56.65%. Its share price surged 72.4% year to date.
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