IMGN - Why ImmunoGen Stock Is Flying High Today
Shares of ImmunoGen (NASDAQ: IMGN) , a small-cap specialist in antibody-drug conjugates (ADCs), were up a healthy 13.1% as of 12:17 p.m. ET Wednesday. The biotech's shares are extending yesterday's rally following a positive top-line data readout for mirvetuximab as a treatment for platinum-resistant ovarian cancer.
What's noteworthy is that ImmunoGen's shares are up by double digits today despite a $175 million public offering announced after the closing bell Monday. That's a surefire sign that Mr. Market is indeed impressed with mirvetuximab's late-stage data.
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Why ImmunoGen Stock Is Flying High Today