ImmunoGen, Inc. (NASDAQ: IMGN)
Shares of IMGN sky rocketed higher in Monday’s trading on very positive results from its IMGN853 study which revealed its effectiveness in treating ovarian cancer. The Company made a presentation at the 2015 Annual ASCO Conference in Chicago demonstrating its Phase I results and announced it would be launching a Phase II study in hopes of receiving regulatory approval in the future.
IMGN traded on heavy volume in Monday’s session hitting highs of $15.88 from a close on Friday at $8.98. IMGN stock began the year trading near $6 and has continued its trend higher with today showing the strength attributed to the company’s fundamental performance.
TheStreet.com currently rates IMGN as a Sell. “We rate IMMUNOGEN INC (IMGN) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company’s weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.”
ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. It develops its products using its antibody-drug conjugates technology. The company offers Kadcyla, an antibody-drug conjugate for the treatment of HER2-positive metastatic breast cancer. Its product candidates include IMGN853, which is in Phase I clinical trials for the treatment of ovarian cancer, endometrial cancer, and other cancers; IMGN289 that is in Phase I clinical trials for treating squamous cell carcinoma of head and neck cancer, and non-small cell lung cancer; IMGN529, which is in Phase I clinical trials for the treatment of non-Hodgkin lymphoma and chronic lymphocytic leukemia; and IMGN779 that is in preclinical stage for treating acute myeloid leukemia. The company also develops compounds, such as AMG 172 that is in Phase I clinical trials for the treatment of clear cell renal cell carcinoma; AMG 595, which is in Phase I clinical trials for treating glioblastoma; BAY 94-9343 is in early clinical trials for the treatment of mesothelioma and ovarian cancer; BT-062 for multiple myeloma; SAR3419, which has completed Phase II clinical trials for the treatment of diffuse large B-cell lymphoma; SAR650984 that is in early clinical trials for the treatment of multiple myeloma; SAR566658 that is in Phase I clinical trials for treating CA6-positive solid tumors; and SAR408701 for solid tumors. It has collaborations with Amgen Inc.; Bayer HealthCare; Biotest AG; Eli Lilly and Company; Novartis Institutes for BioMedical Research, Inc.; the Roche Group; and Sanofi. The company was founded in 1981 and is headquartered in Waltham, Massachusetts. – Yahoo! Finance