ImmunoGen, Inc. - IMGN STOCK NEWS

ImmunoGen, Inc. (NASDAQ: IMGN) announced on September 30, 2022, that its Board of Directors approved the grant of stock options to 37 new employees to purchase a total of 1,067,850 shares of common stock. This grant is part of the Inducement Equity Incentive Plan and aims to incentivize new hires as per Nasdaq Listing Rule 5635(c)(4). The options are priced at $4.78 per share, equal to the closing stock price on the grant date. Vesting will occur over four years, encouraging retention and commitment from new employees.

ImmunoGen presented promising data on mirvetuximab at the 2022 IGCS Annual Global Meeting. The combination with bevacizumab showed an overall objective response rate (ORR) of 44% in recurrent FRα-positive ovarian cancer, with a median duration of response (DOR) of 11.8 months. In a subset with prior bevacizumab treatment, the ORR reached 58%. Another analysis revealed an ORR of 71% for mirvetuximab with carboplatin in platinum-sensitive cases. The results suggest mirvetuximab could establish a new standard of care for treating this cancer type.

ImmunoGen, a leader in antibody-drug conjugates for cancer treatment, announced that CFO Susan Altschuller will participate in a fireside chat at the Guggenheim Nantucket Therapeutics Conference on September 28, 2022, at 11:15am ET. A webcast will be available on their website, allowing investors to access the discussion live and later via replay. ImmunoGen is committed to developing targeted therapies that enhance anti-tumor activity while improving patient tolerability, aligning with their mission, TARGET A BETTER NOW™.

ImmunoGen, a leader in antibody-drug conjugates, presented findings from the FORWARD I study at the ESMO Congress. The study analyzed patient-reported outcomes comparing mirvetuximab with chemotherapy in platinum-resistant ovarian cancer. Key results showed mirvetuximab significantly improved gastrointestinal symptoms: 31.7% of patients reported a 15-point symptom improvement versus 14.0% with chemotherapy (P=0.0162). Additionally, mirvetuximab's pharmacokinetic analysis supported its dosing guidelines. The findings underscore mirvetuximab's potential to become a new standard of care for ovarian cancer.

ImmunoGen, Inc. (NASDAQ: IMGN) announced on August 31, 2022, that its Board's compensation committee approved the grant of stock options to purchase 883,720 shares to 24 new employees under the Inducement Equity Incentive Plan. The options have an exercise price of $5.81 per share, matching the closing price on the grant date. These options will vest over four years, with 25% vesting after one year and subsequently 6.25% every quarter, contingent on continued employment. This plan incentivizes recruitment in line with Nasdaq regulations.

ImmunoGen provided updates from the pivotal Phase 2 CADENZA study of pivekimab sunirine in blastic plasmacytoid dendritic cell neoplasm (BPDCN). Data from the first 10 patients showed promising responses: 2 of 4 de novo patients achieved complete responses, while 4 of 6 patients with prior hematologic malignancy also reached significant clinical responses. The FDA has aligned on key efficacy analyses, and ImmunoGen plans to enroll up to 20 additional de novo patients, expecting top-line results in 2024. The study aims to address the significant unmet needs in this aggressive cancer type.

ImmunoGen, a leader in antibody-drug conjugates for cancer treatment, announced the approval of non-qualified stock option grants totaling 667,800 shares to sixteen new employees on July 29, 2022. This award aims to incentivize new hires under the Inducement Equity Incentive Plan as per Nasdaq Listing Rule 5635(c)(4). The options carry an exercise price of $4.74 per share, equal to the closing stock price on the grant date, and will vest over four years. This move is part of ImmunoGen's strategy to enhance its workforce and drive innovation in cancer therapies.

ImmunoGen, Inc. announced that the FDA accepted its Biologics License Application (BLA) for mirvetuximab soravtansine in ovarian cancer with Priority Review, expected approval by November 28, 2022. The company completed enrollment in the MIRASOL study and presented positive data at ASCO. Financially, total revenues decreased to $14.2 million, with higher operating expenses totaling $75.2 million, resulting in a net loss of $62.0 million. ImmunoGen maintains its 2022 revenue guidance of $75-$85 million, expecting to fund operations into 2024.

ImmunoGen Inc. (Nasdaq: IMGN) announced a conference call scheduled for July 29, 2022, at 8:00 a.m. ET to discuss its Q2 2022 operating results and provide a business update. Investors can join via phone or online through their website. ImmunoGen is focused on developing advanced antibody-drug conjugates (ADCs) for cancer treatment, aiming to enhance patient outcomes and quality of life. The company emphasizes its commitment to TARGET A BETTER NOW™.