Read Seeking Alpha news article posted: Immunogen: Opinions Are Being Expressed. Here Is Our View
Stopping the Phase II trial of its ADC product IMGN901 on patients with non-small-cell lung cancer is most probably a temporary setback, which we believe would have no negative long-term impact on ImmunoGen’s (IMGN) success and growth. The failure of the drug has nothing to do with ImmunoGen’s TAP technology that has been validated through the approval of HER2 positive breast cancer ADC product Kadcyla® and through many years of experimentation.
Finding that the addition of IMGN901 to etoposide/carboplatin (E/C) was unlikely to demonstrate a sufficient improvement in progression-free survival compared to E/C alone to justify continuation of the trial, the firm was advised to halt the lung cancer clinical trials with the combination.
As ImmunoGen stated in its press release, infection-related toxicity is, indeed, a recognized risk in SCLC trials, including trials with etoposide/carboplatin. With regard to IMGN901 as a single agent, was given to 198 patients with only one incidence of infection-related death deemed possibly drug related.
Logically speaking, one setback among more than 16 studies is not unusual, or a precedent. From what we experienced and heard until now, we do not expect long-term impact on ImmunoGen from this setback.
Kadcyla's sales for HER2 breast cancer will continue to climb and Kadcyla is expected to move up as first line treatment at the end of next year if not before – a move expected to increase Kadcyla’s sales, which are expected to exceed those of Roche’s HER2 breast cancer blockbuster Herceptin’s sales
With regard to ImmunoGen’s wholly owned products, it is true that the firm might have lost one, but it has recently initiated trials with three wholly owned ADC compounds, including IMGN853 for ovarian, endometrial, and other cancers that highly express folate receptor α; IMGN529 for non-Hodgkin lymphoma; and IMGN289 for lung, head and neck, and other cancers that highly express EGFR.
Thank Goodness for SA! This is what is needed to combat AF. IMGN should not give AF any respect by responding to his article directly. Agree it should be done via an investor forum such as investor presentations, quarterly reports, etc. Great buying opportunities for those that have missed. Look at what happened to SGEN when had negative news back in july. Drove stock down from 37 to 27, only to reach a new high later at 47!
I completely disagree. The closing of 901 should have been combined with a press release about how 901 is different from the rest in its design, and how the remaining pipeline focuses on a different technology.
I don't see this as a great buying opportunity- too many large firms dumped hard here, and they aren't buying in any time soon. I also don't trust the management at this company any more, and the moment that one of them sells shares next time I will be selling off 5% of my IMGN just in case. You can argue that they are on a set schedule, but the press releases aren't- they just time the press releases for the day after one of them dumps. The moment i can lighten up how much I have in this stock at a reasonable price, i'll be moving on. I'd rather be in one where the Investor relations and ceo pay attention to the stock holders, not take advantage of them.