Never thought I would say this, data appears to +, but MM is not as difficult as SCLC, it's a fairly crowded space with lots of good options and no comparative data was presented. Maybe IMGN will attract some new attention from CELG or MLNM/Takeda, both acquisitive co's. Let's see how DJ spins it.
Listened to the Q/A on Mad Money. Junius did a good job as the spokesman this time I thought. 901 does sound like it has a great potential. I think the point he was trying to make is that the antibody targets a number of cancers, thus it has wide spread applicability for follow on approvals, but their primary goal and target now is SCLC. MM I think was looked at to demonstrate the cross functional target across multiple cancers.
The other talk that Segal gave for Seattle Genetics for their approved drug and the other modalities that they are looking at, holy smokes. I thought TDM1 data sounded impressive, but in response rate in T-cell lymphoma and Hodgkins was astounding stuff. The market is really short sighted on this one. If this pulls back further into the end of the year because of market weakness (fiscal cliff nonsense) I will be looking for an entry point here as well.
Best day IMGN has had in a long time, and a nice follow up to yesterday also.
Liquid tumors are easy; T-DM1 and CDX-001 show that, although not as impressive, ADCs work in solid tumors as well.
901 MM numbers look better than ARRY MM drug numbers, I think. A monied partner for 901 for MM will make equity offer less likely in the future. Better if front line for MM can be explored for 901, not heavily treated population. Less AEs than SOC would be good, just like Adcetris front line in HL.
SGEN's indications are more targeted and small, the market cap is large, I think SGEN needs more time and progress to grow into their current valuation IMO. I see more upside in IMGN at least the first half of 2013. Long term SGEN is a great company.