Welcome to our dedicated page for ImmunoGen news (Ticker: IMGN), a resource for investors and traders seeking the latest updates and insights on ImmunoGen stock.
ImmunoGen, Inc. (NASDAQ: IMGN) is a pioneering clinical-stage biotechnology company focused on developing targeted anticancer therapeutics using proprietary antibody-drug conjugate (ADC) technology. The company's mission is to create groundbreaking treatments that improve outcomes for cancer patients.
ImmunoGen's flagship product, ELAHERE® (mirvetuximab soravtansine-gynx), is a first-in-class ADC that has received accelerated approval from the U.S. FDA for treating adult patients with folate receptor alpha (FRα) positive, platinum-resistant ovarian cancer. This innovative therapy is the first targeted medicine to demonstrate a meaningful survival benefit in this patient group.
Recent News: On November 30, 2023, AbbVie Inc. (NYSE: ABBV) and ImmunoGen announced a definitive agreement under which AbbVie will acquire ImmunoGen for $31.26 per share in cash. This acquisition, valued at approximately $10.1 billion, is expected to close in mid-2024, pending shareholder and regulatory approvals.
ImmunoGen has a robust pipeline of next-generation ADCs, including IMGN-151, designed for ovarian cancer, and Pivekimab sunirine, targeting rare blood cancer BPDCN. The company's technology is also utilized in Roche's marketed product, Kadcyla, highlighting its industry-wide impact.
With its innovative approaches and strategic partnerships, ImmunoGen is at the forefront of developing cutting-edge cancer therapies aimed at disrupting the progression of cancer and offering patients more good days.
- Lead Product: ELAHERE® for platinum-resistant ovarian cancer
- Pipeline Products: IMGN-151, Pivekimab sunirine
- Partnerships: Roche, AbbVie
- Technology: Proprietary antibody-drug conjugate (ADC) technology
- Financial Condition: Recently valued at $10.1 billion in acquisition deal with AbbVie
- Website: www.immunogen.com
ImmunoGen Inc. (NASDAQ: IMGN) announced the appointment of Tracey L. McCain, Esq. to its Board of Directors. McCain, who has over 20 years in the biopharmaceutical sector, is expected to enhance the company’s governance and compliance measures. ImmunoGen is on the brink of pivotal developments, particularly regarding the SORAYA trial for mirvetuximab soravtansine in ovarian cancer, anticipated to provide top-line data this quarter. McCain's expertise is seen as crucial as the company prepares for potential commercialization and advances its drug pipeline.
ImmunoGen Inc. (NASDAQ: IMGN) has announced the appointment of Kristen Harrington-Smith as Senior Vice President and Chief Commercial Officer. To incentivize her role, the company granted her 450,000 non-qualified stock options and 75,000 restricted stock units (RSUs). The options vest over four years, with an exercise price of
ImmunoGen Inc. (Nasdaq: IMGN) has appointed Kristen Harrington-Smith as Senior Vice President and Chief Commercial Officer. Her extensive commercial experience in the pharmaceutical industry, including her role at Novartis Pharmaceuticals, is expected to bolster ImmunoGen's capabilities as it prepares for pivotal data from the SORAYA trial and the potential launch of mirvetuximab soravtansine. The company aims to utilize its innovative antibody-drug conjugates to transform cancer care.
ImmunoGen Inc. (NASDAQ: IMGN) announced promising initial findings from its Phase 1b/2 study of IMGN632, a CD123-targeting antibody-drug conjugate for relapsed/refractory acute myeloid leukemia (AML). The triplet therapy, in combination with azacitidine and venetoclax, demonstrated a 55% objective response rate and a manageable safety profile. The data will be presented at the 63rd American Society of Hematology Annual Meeting from December 11-14. Notably, the therapy yielded a 100% response rate in the FLT3 mutant subset.
ImmunoGen Inc. (Nasdaq: IMGN) announced the grant of a non-qualified stock option to a new employee for 8,400 shares at an exercise price of $6.03 per share, equivalent to the closing stock price on October 29, 2021. This grant is part of the company’s Inducement Equity Incentive Plan, designed to attract new talent. The stock options will vest over four years, with 25% vesting after the first year and 6.25% quarterly thereafter. ImmunoGen focuses on developing antibody-drug conjugates to enhance cancer treatment outcomes.
ImmunoGen, a leader in antibody-drug conjugates, reported Q3 2021 revenues of $9.2 million, down from $18.2 million in Q3 2020, primarily due to a decrease in non-cash royalty revenue. Operating expenses rose to $43.4 million, up from $34.9 million year-over-year. The net loss for the quarter was $37.3 million, or $0.18 per share. The company updated its 2021 guidance, expecting revenues between $65 million and $75 million. Upcoming milestones include top-line data from the pivotal SORAYA trial and further developments in their pipeline programs.
ImmunoGen Inc. (NASDAQ: IMGN) will host a conference call on October 29, 2021, at 8:00 a.m. ET to discuss its third quarter operating results and provide a business update. Investors can join the call by dialing (877) 621-5803 with conference ID 1587202, or access it via the company's website. ImmunoGen focuses on developing advanced antibody-drug conjugates (ADCs) aimed at improving cancer treatment outcomes. The company emphasizes its commitment to creating targeted therapies that enhance anti-tumor activity.
ImmunoGen Inc. (Nasdaq: IMGN) announced on September 30, 2021, that its compensation committee awarded non-qualified stock options for 64,500 shares to three new employees under the Inducement Equity Incentive Plan. The options have an exercise price of $5.67 per share, equivalent to the closing stock price on the grant date. Vesting occurs over four years, with 25% vesting annually and an additional 6.25% quarterly, contingent on continued employment. This plan incentivizes new hires as part of Nasdaq Listing Rule 5635(c)(4).
ImmunoGen Inc. (NASDAQ: IMGN) announced the appointment of Dr. Helen M. Thackray to its Board of Directors. Dr. Thackray brings over 25 years of expertise in biopharmaceuticals, crucial as ImmunoGen advances its clinical programs. Chairman Stephen McCluski emphasized her role in the company's transformation into a fully integrated oncology firm, focusing on the anticipated BLA submission for mirvetuximab soravtansine. Dr. Thackray's experience includes leadership positions at BioCryst Pharmaceuticals and GlycoMimetics, enhancing ImmunoGen's capacity to address unmet needs in cancer treatment.
ImmunoGen Inc. (Nasdaq: IMGN) announced the granting of non-qualified stock options to purchase 59,700 shares of common stock to two new employees under the Inducement Equity Incentive Plan. This action, dated July 30, 2021, complies with Nasdaq Listing Rule 5635(c)(4), allowing awards exclusively for new or returning employees. The options feature an exercise price of $5.61 per share, equivalent to the stock’s closing price on the grant date, and will vest over four years contingent upon continued employment.
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