ImmunoGen Up on Positive Pipeline Data - Analyst Blog

ImmunoGen Inc.'s IMGN shares have been up over a couple of trading sessions following the company's announcement of encouraging initial results on its oncology candidate, IMGN853, on Apr 8. The stock has gained over 8% since the announcement.

Results from the company's research, which aimed at optimizing the dosing of IMGN853, revealed that clinical activity has been seen with the candidate starting at doses of 3.3 mg/kg.

ImmunoGen stated that dosing of IMGN853 as per adjusted ideal body weight, rather than total body weight, would bring down the variability among patients in the concentration of IMGN853 in their blood. ImmunoGen has changed the dosing of IMGN853 as per adjusted ideal body weight from total body weight in the ongoing phase I study following its research insights.

The company intends to present additional data on the candidate in the coming months. We note that ImmunoGen is currently evaluating IMGN853 in a phase I study for the treatment of folate receptor α (FRα)-positive cancer forms like ovarian, endometrial and lung cancer.

We are encouraged by ImmunoGen's progress with its pipeline so far. Apart from IMGN853, the company also has IMGN529 (non-Hodgkin lymphoma) and IMGN289 (different forms of cancer) in its pipeline. We expect investor focus to remain on ImmunoGen's pipeline.

ImmunoGen presently carries a Zacks Rank #1 (Strong Buy). Some other stocks worth considering include Questcor Pharmaceuticals, Inc. QCOR, Alkermes ALKS and Mallinckrodt MNK. All the stocks carry a Zacks Rank #1.