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) reported Q2 2021 financial results, showing revenue of $16.9 million, up from $15.0 million YoY. Operating expenses rose to $44.3 million, driven by increased research and development costs. The net loss stood at $30.7 million, or $0.15 per share, compared to a loss of $24.3 million last year. The company provided guidance for total revenues between $65 million and $75 million for 2021, and cash reserves are expected to last into H2 2022. Key upcoming events include top-line data from the pivotal SORAYA trial in Q4 2021.
ImmunoGen Inc. (Nasdaq: IMGN) announced a conference call scheduled for 8:00 a.m. ET on July 30, 2021, to discuss its second-quarter operating results. The call will also include a brief update on the company's business. Investors can access the call by dialing (877) 621-5803 with conference ID 1789134 or through the company's website. A replay will be available post-call. ImmunoGen focuses on developing advanced antibody-drug conjugates (ADCs) to improve cancer treatment outcomes.
ImmunoGen Inc. (Nasdaq: IMGN) announced the grant of non-qualified stock option awards on June 30, 2021, totaling 67,900 shares under its Inducement Equity Incentive Plan. These options were issued to four new employees as an inducement for their employment, adhering to Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $6.59, matching the closing price of the stock on the grant date. The options will vest over four years, with 25% vesting after one year, and the remaining 75% vesting quarterly thereafter, contingent on continued employment.
ImmunoGen Inc. (Nasdaq: IMGN) announced on May 28, 2021, that its Board of Directors granted non-qualified stock options for 89,800 shares to four new employees under the Inducement Equity Incentive Plan. The options, exercisable at $6.18 per share, will vest over four years, with 25% vesting after one year and 6.25% quarterly thereafter, contingent on continued employment. This plan is aligned with Nasdaq Listing Rule 5635(c)(4), which allows for equity awards to individuals who are not prior employees. ImmunoGen aims to advance cancer treatment through innovative antibody-drug conjugates.
ImmunoGen Inc. (Nasdaq: IMGN) announced that CFO Susan Altschuller and CMO Anna Berkenblit will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 9:30 am ET. A live webcast will be available through the Investors and Media section of their website, with a replay to follow. ImmunoGen is dedicated to developing advanced antibody-drug conjugates (ADCs) aimed at improving cancer patient outcomes by offering targeted therapies with enhanced efficacy and tolerability.
ImmunoGen Inc. (Nasdaq: IMGN) announced mature data from the FORWARD II study, evaluating the combination of mirvetuximab soravtansine and Avastin® in recurrent ovarian cancer patients. The data will be presented at the 2021 ASCO Virtual Annual Meeting. Notably, the combination achieved a 64% overall response rate (ORR) in patients with high folate receptor alpha expression. The study included 60 patients, revealing a median duration of response of 11.8 months and a median progression-free survival of 10.6 months in high FRα patients. These findings underscore the potential of mirvetuximab as a viable treatment option.
ImmunoGen Inc. reported financial results for Q1 2021, revealing revenues of $15.7 million, up from $13.3 million in Q1 2020. Operating expenses increased to $44.6 million from $37.1 million, driven by greater clinical trial costs. The net loss for the quarter was $34.1 million, unchanged per share from the previous year. Delays in clinical trials due to patient enrollment and COVID-19 have shifted key data timelines. Financial guidance remains steady, with anticipated revenues between $65 million and $75 million for 2021. Current cash is projected to fund operations into H2 2022.
ImmunoGen Inc. (Nasdaq: IMGN) announced on April 30, 2021, that its Board of Directors granted non-qualified stock option awards for 121,900 shares to four new employees under the Inducement Equity Incentive Plan. This plan facilitates equity awards for individuals not previously employed by the company. The options have an exercise price of $8.06 per share, equal to the stock's closing price on that date. The options will vest over four years, starting with 25% after one year and 6.25% quarterly thereafter, contingent on continued employment.
ImmunoGen Inc. (Nasdaq: IMGN) will host a conference call on May 10, 2021, at 8:00 a.m. ET to discuss its first-quarter operating results and provide a business update. Investors can join the call by dialing (877) 621-5803, using conference ID 9982696, or accessing it through the company’s website. ImmunoGen focuses on developing advanced antibody-drug conjugates (ADCs) aimed at improving cancer treatment outcomes, highlighting its commitment to TARGET A BETTER NOW™.
ImmunoGen Inc. (Nasdaq: IMGN) announced the presentation of preclinical data for its ADAM9-targeting antibody-drug conjugate (ADC), IMGC936, at the AACR Virtual Annual Meeting from April 10-15, 2021. Eric Westin, MD, highlighted that IMGC936 showed strong anti-tumor activity against various patient-derived xenograft models and was well-tolerated. The company is currently enrolling patients in a Phase 1 dose-escalation study for IMGC936, with initial data expected by late 2021 or early 2022. This ADC targets tumors expressing ADAM9, a protein involved in tumor progression and metastasis.
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