ImmunoGen Gets Boost on Breast Cancer Drug Survival Results
Immunogen (IMGN $14.36) and Roche announced improved overall survival (OS) as well as progression free survival (PFS) in a Phase III trial for its trastuzumab emtansine (T-DM1) drug utilizing Targeted Antibody Payload Technology ( TAP). The trastuzumab (Herceptin) antibody drug conjugate is being developed jointly by Roche and Immunogen and today Roche announced it has submitted a biologics license application (BLA) to the US FDA and soon to the European Medicines Agency (EMA).
ImmunoGen IMGN) was added to the Rayno Life Science Portfolio on 12/22/11 at a price of $12.40 and hit a high of $18 on July 9. Biopharmaceutical stocks are just off their July highs (XBI $88.62) in a period of consolidation at the low end of their upward channel. Other Rayno Biopharma stocks up today in a flat market are Astex (ASTX $2.84), Cubist (CBST $45.93) and Pharmacyclics (PCYC $67.98).
Another one of our mid-cap biotech picks utilizing antibody-drug conjugates is Seattle Genetics (SGEN $26.65) is up 59.41 % YTD.