IMGN - ImmunoGen's IMGN632 nabs accelerated review for rare blood cancer

The FDA designates ImmunoGen's (IMGN) IMGN632 a Breakthrough Therapy for the treatment of patients with relapsed/refractory blastic plasmacytoid dendritic cell neoplasm, a rare and aggressive type of blood cancer that can involve the bone marrow and is typically characterized by deep purple skin lesions.IMGN632 is a CD123-targeted antibody-drug conjugate. CD123 is a protein overexpressed in a range of blood cancers including leukemic stem cells and leukemic blasts (young leukemia cells).Breakthrough Therapy status provides for more intensive guidance from the FDA on development, the involvement of more senior agency personnel and a rolling review of the marketing application.Shares up 32% premarket.Quant rating is Neutral.

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ImmunoGen's IMGN632 nabs accelerated review for rare blood cancer