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