IMGN - ImmunoGen jumps 17% after ASCO readout on Elahere cancer drug

2023-06-05 07:00:59 ET

ImmunoGen Inc. ( NASDAQ: IMGN ) added ~17% pre-market Monday after the company shared data from a Phase 3 confirmatory trial for its antibody-drug conjugate Elahere at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting.

Announcing data from its 453-patients MIRASOL trial, ImmunoGen ( IMGN ) said that Elahere indicated a statistically significant and clinically meaningful improvement in progression-free survival (PFS).

Patients in the Elahere arm were found to have a 35% reduction in the risk of tumor progression or death compared to those who received a chemotherapy regimen.

MIRASOL included patients with platinum-resistant ovarian cancer whose tumors express high levels of FR? and who had undergone up to three prior treatment regimens

In November, the FDA granted accelerated approval for Elahere, also known as mirvetuximab soravtansine-gynx, as a late-line option for certain adults with FR?-positive, platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer.

ImmunoGen ( IMGN ) crossed the $2B market cap in early May after announcing topline data from the MIRASOL trial.

More on ImmunoGen

• ImmunoGen ovarian cancer drug Elahere shows survival benefit in confirmatory trial
• ImmunoGen: Making A Successful Comeback

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