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Can ImmunoGen's Lead Pipeline Cancer Candidate Boost Growth?

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On Jul 12, 2017, we issued an updated report on ImmunoGen, Inc. (IMGN - Free Report) .

ImmunoGen is a development-stage biotechnology company focused on developing targeted cancer therapeutics, using its proprietary antibody-drug conjugate (ADC) technology.

The company’s shares have significantly outperformed the Zacks categorised Medical-Drugs industry so far this year, having soared 239.2%, while the industry has registered an increase of 6.3%.

ImmunoGen has made a significant progress with regard to the lead pipeline candidate, mirvetuximab soravtansine, which is currently in a phase III study (FORWARD I) as a single-agent therapy. It has been put on trial for treating patients with platinum-resistant ovarian cancer whose tumors express high or medium levels of FR alpha and who have received up to three prior treatment regimens.

Combination regimens with mirvetuximab soravtansine in ovarian cancer are in the phase Ib/II FORWARD II study, aiming to expand the eligible patient population. Following successful completion of dose escalation, a phase II expansion cohort in combination with Roche’s Avastin is also ongoing. ImmunoGen expects to report initial data from the FORWARD II study soon.

Notably, mirvetuximab soravtansine enjoys Orphan Drug status in both the U.S. and the EU for treatment of ovarian cancer.

Although the platinum-resistant ovarian cancer market provides an immense commercial potential, ImmunoGen is set to face intense competition, upon approval. Nonetheless, mirvetuximab soravtansine looks promising at this juncture and its sanction will be a huge boost to the company.

Apart from mirvetuximab soravtansine, ImmunoGen is working on developing a couple of other candidates, including IMGN779 and IMGN632. IMGN779 is being evaluated in a phase I study for treating acute myeloid leukemia with data expected later this year. The company plans to file an investigational new drug application (INDA) for IMGN632 to treat hematological malignancies in the third quarter of 2017.

ImmunoGen has agreements with several big healthcare companies including Amgen Inc. (AMGN - Free Report) , Bayer, Eli Lilly and Company (LLY - Free Report) , Novartis (NVS - Free Report) , Roche, Sanofi and Takeda. These agreements in turn allow other companies to use ImmunoGen’s ADC technology and provide it with funds in the form of license and milestone fees, royalties, clinical materials revenue and R&D support fees.

ImmunoGen, Inc. Price and Consensus

ImmunoGen, Inc. Price and Consensus | ImmunoGen, Inc. Quote

Zacks Rank

ImmunoGencurrently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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