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. announced on March 31, 2023, that its Compensation Committee granted non-qualified stock options for 106,600 shares and RSUs for 7,800 shares to three new employees under the Inducement Equity Incentive Plan. The options have an exercise price of $3.84 per share, equal to the closing price on that date. Vesting for options and RSUs occurs over a four-year period, with 25% vesting on the first anniversary and the remainder vesting quarterly or annually thereafter. This plan incentivizes new talent as ImmunoGen continues to focus on developing advanced antibody-drug conjugates for cancer treatment.
ImmunoGen, Inc. (NASDAQ: IMGN) announced the presentation of final overall survival data from the SORAYA trial for mirvetuximab soravtansine, targeting platinum-resistant ovarian cancer with high folate receptor alpha expression. This presentation will occur on March 25, 2023, at the Society of Gynecologic Oncology Annual Meeting in Tampa, Florida, led by Dr. Robert Coleman. The study assesses the impact of therapy sequencing on anti-tumor activity.
ImmunoGen focuses on developing innovative antibody-drug conjugates (ADCs) to enhance cancer treatment outcomes, aiming for a commitment to TARGET A BETTER NOW™.
ImmunoGen, Inc. (NASDAQ: IMGN) announced on February 28, 2023, the approval of stock options and restricted stock units (RSUs) for three new employees under its Inducement Equity Incentive Plan. A total of 49,450 stock options and 15,200 RSUs were granted, with options priced at $3.88, equivalent to the closing share price on the grant date. Each option and RSU will vest over a period of four years, contingent on continued employment. This initiative aims to attract talent crucial for developing its innovative antibody-drug conjugates, designed to enhance cancer treatment outcomes.
ImmunoGen, a leader in antibody-drug conjugates (ADCs), announced the launch of ELAHERE (mirvetuximab soravtansine-gynx), the first ADC approved for platinum-resistant ovarian cancer in the US. In Q4 2022, the drug generated $2.6 million in net sales. Financial results showed total revenues of $41.2 million for Q4 2022, up from $28 million in Q4 2021, driven by milestone payments. However, the net loss for Q4 2022 was $59 million, compared to $37.2 million a year prior. The company anticipates revenues of $30 million to $35 million for 2023, excluding ELAHERE product sales, with operating expenses expected between $310 million and $320 million.
ImmunoGen, Inc. (Nasdaq: IMGN) announced a comprehensive licensing agreement with Vertex Pharmaceuticals (NYSE: VRTX), allowing Vertex to research ImmunoGen's antibody-drug conjugate technology for gene editing applications. Vertex will pay an upfront fee of
ImmunoGen, Inc. (Nasdaq: IMGN) has announced upcoming webcasts of presentations at key investor conferences. The events include the Cowen 43rd Annual Health Care Conference on
ImmunoGen Inc. (NASDAQ: IMGN) announced a conference call scheduled for 8:00 a.m. ET on March 1, 2023, to discuss its 2022 operating results. The call will feature management updates and can be accessed via registration. ImmunoGen specializes in antibody-drug conjugates (ADCs) aimed at enhancing cancer treatment outcomes. The company's mission is to disrupt cancer progression and improve patient quality of life. Further details, including a replay of the call, will be available on their website.
ImmunoGen, a leader in antibody-drug conjugates for cancer treatment, has announced key presentations at upcoming investor conferences. Management will present at the Guggenheim Healthcare Talks 2023 Oncology Conference on February 9 at 3:20 PM ET and at the SVB Securities Global Biopharma Conference on February 15 at 10:00 AM ET. These events will be webcast, with live access and replays available through the company's website. ImmunoGen is focused on developing novel therapies that improve cancer patients' outcomes, emphasizing their commitment to TARGET A BETTER NOW™.
ImmunoGen, Inc. announced the approval of non-qualified stock option awards totaling 960,000 shares for Dr. Michael J. Vasconcelles and 226,950 shares for nine new employees. The Vasconcelles Options have an exercise price of $5.16, while the Employee Options are priced at $4.96, both reflecting the closing stock price on their respective grant dates. Vesting occurs over four years, with 25% vesting annually. These grants are part of the Inducement Equity Incentive Plan aimed at attracting new talent to the company.
ImmunoGen, Inc. (NASDAQ: IMGN) announced the appointment of Michael Vasconcelles as Executive Vice President, Research, Development, and Medical Affairs. This strategic move follows the launch of ELAHERE™ (mirvetuximab soravtansine-gynx), marking a transition to a fully-integrated oncology company. Dr. Vasconcelles brings over 30 years of experience in developing transformative cancer therapies. His role is crucial for expanding ELAHERE's label and advancing the ADC pipeline to markets globally, enhancing ImmunoGen's growth potential.
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