"In part, management said that it was changing plans for IMGN901. Reasoning was that the company saw more higher grade peripheral sensory neuropathy from an initial cohort of patients in phase 2 than previously seen. The data monitoring committee on the study suggested to reduce the initial dose, thus changing the overall phase 2 protocol. The starting dose used in the first cohort will unlikely be used in phase 3 and will affect interim analysis planned for the second half of 2013, the committee noted.
Immunogen noted that investment for full scale-up of manufacturing teetered on results from the whole trial. The company expects that data to be complete by the middle of 2014."
yes, along with their inept responses to analyst questions. 901 is older than T-DM1 and they still have not either killed it, or had a successful trial, which is inexcusable. Management is clearly clueless in all areas except drug discovery and pre-clinical development. John Lambert and team are the only winners on this team and they need to be the focus. Send the others packing, bring in some replacements, or sell to the highest bidder. IMGN would be worth at least $25-30 in a well run auction IMO as long as the successor can keep John Lambert and team on board and cut out all the other WASTE/expense. I have seen this show all too often in biotech, strong products and discovery destroyed by terrible management. Put these assets in the hands of an REGN, Genentech, Celgene and they are worth multi BB's. Long term investors must fight for positive change!