ImmunoGen rises after partner announces positive data

Immunogen (IMGN) is climbing after Roche (RHHBY) announced positive data for a breast cancer treatment that uses Immunogen's technology. Roche's T-DM1 reduced the risk of disease progression or death in people with a certain type of breast cancer by 35%, Roche said. T-DM1 is a combination of Immunogen's anti-cancer agent, DM1, and Roche's antibody, transtuzumab, according to Immunogen. In a note to investors, RBC Capital wrote that the results of the trial of T-DM1 were "very impressive." The firm expects the results to increase interest among investors in pharmaceutical companies and inestors in Immunogen's technology. However, the firm also notes that Immunogen is only slated to receive mid-single digit royalties from T-DM1. RBC Capital maintains an Outperform rating on Immunogen, which gained 42c, or 3.02%, to $14.31 in mid-morning trading.