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. has announced the grant of stock options to purchase 1,295,950 shares to 27 new employees, effective June 30, 2022, under its Inducement Equity Incentive Plan. This move aligns with Nasdaq Listing Rule 5635(c)(4) and is designed to attract new talent. The options have an exercise price of $4.50 per share, equal to the company's closing stock price on the grant date, and will vest over four years. ImmunoGen focuses on developing antibody-drug conjugates aimed at improving cancer treatment outcomes.
ImmunoGen Inc. has announced a new multi-year collaboration with Oxford BioTherapeutics to develop novel antibody-drug conjugates (ADCs) targeting cancers with high unmet needs. The partnership will leverage ImmunoGen's proprietary linker-payload technology and OBT's OGAP® discovery platform. OBT will receive an upfront payment and both companies are eligible for milestone payments and tiered royalties. This deal aims to expand ImmunoGen's ADC capabilities and strengthen its oncology pipeline.
ImmunoGen, Inc. (Nasdaq: IMGN) announced the approval of stock options for 365,920 shares to fourteen new employees on May 31, 2022. This grant is part of the Inducement Equity Incentive Plan aimed at attracting new talent. The stock options have an exercise price of $3.66 per share, equivalent to the stock's closing price on the same day. Options will vest over four years, with 25% vesting after one year and 6.25% quarterly thereafter, contingent upon continued employment.
ImmunoGen, Inc. has announced significant data on mirvetuximab soravtansine at the 2022 ASCO Annual Meeting. Updated results from the SORAYA study show an objective response rate (ORR) of 32.4% in patients with platinum-resistant ovarian cancer, with tumor reduction in 71.4% of cases. The median overall survival is reported as 13.8 months. Additionally, an integrated safety summary from 464 patients indicates a favorable safety profile for mirvetuximab, with the most common treatment-related adverse events being manageable low-grade effects. The drug's biologics license application has been filed with the FDA.
ImmunoGen, Inc. (NASDAQ: IMGN), a leader in antibody-drug conjugates (ADCs) for cancer treatment, announced upcoming presentations at investor conferences. The first is at the William Blair 42nd Annual Growth Stock Conference on June 8 at 11:20am CT/ 12:20pm ET. The second will be at the Jefferies Healthcare Conference on June 9 at 9:30am ET. Webcasts will be available on the company’s website, along with replays after the events. ImmunoGen aims to improve cancer treatment outcomes through innovative ADCs.
ImmunoGen, Inc. announces the FDA's acceptance and filing of its Biologics License Application (BLA) for mirvetuximab soravtansine, targeting FRα-high platinum-resistant ovarian cancer. This BLA has received Priority Review, with a decision expected by
ImmunoGen, Inc. (NASDAQ: IMGN) announced that CFO Susan Altschuller will present at the H.C. Wainwright Global Investment Conference on May 24, 2022, at 7:00 am ET. The presentation will be available via webcast on the company's website, with a replay accessible afterward. ImmunoGen focuses on developing innovative antibody-drug conjugates (ADCs) to enhance cancer treatment outcomes, demonstrating a commitment to improving patient experiences with targeted therapies.
ImmunoGen has submitted a Biologics License Application (BLA) for mirvetuximab soravtansine to the FDA under the accelerated approval pathway for ovarian cancer treatment. The submission follows positive results from the pivotal SORAYA trial. The company anticipates a PDUFA date later this year and is ramping up commercialization efforts. Total revenues for Q1 2022 were $38.1 million, a significant increase from $15.7 million in Q1 2021, driven by collaboration fees. Operating expenses rose to $60.9 million, leading to a net loss of $24.1 million.
ImmunoGen, Inc. (NASDAQ: IMGN) announced on April 29, 2022, that its Board of Directors approved the grant of non-qualified stock options for 729,530 shares to 16 new employees under the Inducement Equity Incentive Plan. The exercise price is set at $4.83 per share, matching the closing stock price on that day. These options vest over four years, with 25% vesting after one year and subsequent quarterly vesting. This plan is aimed at attracting talent and facilitating employment with the company.
ImmunoGen Inc. (NASDAQ: IMGN) has announced a conference call on May 6, 2022, at 8:00 a.m. ET, to discuss its Q1 2022 operating results and provide business updates. The call can be accessed by dialing (877) 621-5803 with conference ID 5444669, or through the company’s website. ImmunoGen focuses on developing antibody-drug conjugates aimed at improving cancer treatment outcomes and enhancing patient quality of life. Their mission is encapsulated in the phrase “TARGET A BETTER NOW™”.
FAQ
What is the market cap of ImmunoGen (IMGN)?
What does ImmunoGen, Inc. specialize in?
What is ELAHERE®?
Who is acquiring ImmunoGen, Inc.?
What is the significance of the acquisition by AbbVie?
What other products are in ImmunoGen's pipeline?
What technology does ImmunoGen use?
What is Kadcyla?
When is the acquisition by AbbVie expected to close?
Where can I find more information about ImmunoGen, Inc.?
What is the focus of ImmunoGen's research and development?
