2023-05-03 10:45:32 ET
Sutro Biopharma ( NASDAQ: STRO ) and Mersana Therapeutics ( NASDAQ: MRSN ) were among notable gainers in the morning hours Wednesday after rival oncology-focused biotech ImmunoGen ( NASDAQ: IMGN ) reported positive data for its ovarian cancer drug Elahere from a confirmatory Phase 3 trial.
Immunogen ( IMGN ) has spiked ~145% to reach the highest level in over five years, with ~51.6M shares changing hands compared to the 65-day average of ~3.7M, while Sutro ( STRO ) and Mersana ( MRSN ) have added ~20% and ~43% , respectively, both on above-average volumes.
Earlier in the day, Immunogen ( IMGN ) announced plans to submit filings in the U.S. and EU in H2 2023 to seek regular approval for Elahere after the antibody-drug conjugate indicated statistically significant gains in key oncology metrics compared to chemotherapy in ovarian cancer.
Both Sutro ( STRO ) and Mersana ( MRNS ) are also advancing ADC candidates for ovarian cancer.
Mersana ( MRSN ), the developer of ADC upifitamab rilsodotin, closed ~18% higher in late April after Immunogen ( IMGN ) reported strong Elahere sales for Q1 2023 .
In January, Sutro ( STRO ) announced that its ADC candidate STRO-002 (luvelta) led to a 37.5% overall response rate regardless of starting dose in a Phase 1 dose-expansion study in ovarian cancer.
For further details see:
Sutro, Mersana jump after Immunogen data for ovarian cancer therapy