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
On March 31, 2022, ImmunoGen, Inc. (NASDAQ: IMGN) announced the grant of non-qualified stock options to purchase 218,500 shares of common stock to three new employees under its Inducement Equity Incentive Plan. The options have an exercise price of $4.76 per share, equal to the closing stock price on the grant date. Options vest over four years, with 25% vesting after one year and subsequent quarterly vesting. The Inducement Plan aims to attract talent by providing equity awards to new hires, in line with Nasdaq Listing Rule 5635(c)(4).
ImmunoGen, Inc. (Nasdaq: IMGN) announced that Dr. Anna Berkenblit, Chief Medical Officer, will participate in a panel discussion on ovarian cancer at the Canaccord Genuity Horizons in Oncology Virtual Conference. The event is scheduled for April 14, 2022, from 8:00 – 8:50 AM ET. A webcast of the panel will be available on the Company’s website, with a replay following the live event. ImmunoGen focuses on developing advanced antibody-drug conjugates (ADCs) aimed at improving cancer treatment outcomes.
ImmunoGen has submitted a Biologics License Application (BLA) for mirvetuximab soravtansine to the FDA for treating folate receptor alpha-high platinum-resistant ovarian cancer. This submission is based on the pivotal Phase 3 SORAYA trial results, with top-line data released in November 2021. The FDA has 60 days to review the application, with a priority review requested. The company continues to enroll patients in the confirmatory MIRASOL trial, expecting top-line data in Q3 2022. Mirvetuximab soravtansine has Orphan Drug and Fast Track designations, expediting its development.
ImmunoGen, Inc. (Nasdaq: IMGN) announced multiple presentations at the Society of Gynecologic Oncology Annual Meeting from
ImmunoGen, Inc. (Nasdaq: IMGN) announced on February 28, 2022, that its compensation committee approved stock options for 198,300 shares to three new employees under the Inducement Equity Incentive Plan. The options have an exercise price of $5.64 per share, equal to ImmunoGen's closing stock price on that date. Vests over four years, with an initial 25% vesting after one year. The Inducement Plan is specifically designed for new hires to incentivize their employment with ImmunoGen.
ImmunoGen reported significant advancements for the year ended December 31, 2021, including positive top-line data from the pivotal SORAYA trial of mirvetuximab soravtansine for ovarian cancer. Total revenues fell to $28 million from $85.8 million in Q4 2020, primarily due to a $60.5 million upfront fee from Jazz Pharmaceuticals in 2020. The company ended 2021 with over $478 million in cash, extending its runway into 2024. For 2022, ImmunoGen anticipates revenues of $75 million to $85 million, while operating expenses are expected to range from $285 million to $295 million.
ImmunoGen, Inc. (NASDAQ: IMGN) announced that Mark Enyedy, President and CEO, will participate in the ovarian cancer panel at the Cowen 42nd Annual Health Care Conference on March 9, 2022, from 12:50 to 1:50 PM ET. The event will be available via a live webcast on the company's website, with a replay accessible afterward. ImmunoGen focuses on developing antibody-drug conjugates (ADCs) aimed at improving cancer treatment outcomes, emphasizing their commitment to providing enhanced patient care with targeted therapies.
ImmunoGen has entered a definitive licensing agreement with Eli Lilly for exclusive rights to develop antibody-drug conjugates (ADCs) utilizing ImmunoGen's camptothecin platform. This deal includes a
ImmunoGen Inc. (NASDAQ: IMGN) has announced a conference call scheduled for February 25, 2022, at 8:00 a.m. ET, to discuss its 2021 operating results and provide a business update. The call can be accessed by phone at (877) 621-5803 using conference ID 5566069 or through the company's website. ImmunoGen is focused on developing next-generation antibody-drug conjugates (ADCs) aimed at improving cancer treatment outcomes and enhancing patient well-being. More details about the company can be found on their website.
ImmunoGen, Inc. (NASDAQ: IMGN) announced participation in a fireside chat at the SVB Leerink 11th Annual Global Healthcare Conference on February 18, 2022, at 10:00 AM ET. Chief Financial Officer
ImmunoGen focuses on developing advanced antibody-drug conjugates to enhance cancer treatment.
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