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Why ImmunoGen Stock Soared Today

·1 min read
Why ImmunoGen Stock Soared Today
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  • IMGN

Shares of ImmunoGen (NASDAQ: IMGN) surged 30% on Tuesday after the biotech announced promising clinical trial results for its experimental ovarian cancer therapy, mirvetuximab. The trial was designed to assess the safety and efficacy of mirvetuximab in patients with a form of platinum-resistant ovarian cancer who were already treated with Avastin (bevacizumab), a leading therapy developed by Roche-owned Genentech. "Despite advances in the platinum-sensitive setting, most patients with ovarian cancer eventually develop platinum-resistant disease, for which there are limited treatment options, especially for those patients who have previously received bevacizumab," co-principal investigator Robert Coleman said in a press release.