immunogen inc (IMGN) Key Developments
ImmunoGen, Inc. Announces Clinical Data Presentations at Upcoming ASCO Annual Meeting
May 13 15
ImmunoGen, Inc. provided information on ImmunoGen-related presentations to take place at the 2015 American Society of Clinical Oncology (ASCO) annual meeting being held May 29-June 2 in Chicago, IL. ImmunoGen’s mirvetuximab soravtansine is the first ADC to target folate receptor alpha (FRa), which is highly expressed on many ovarian cancers and on other types of solid tumors. The ASCO presentations will be on the initial findings from the Phase I expansion cohort assessing this ADC as a single agent for the treatment of patients with FRa-positive platinum-resistant ovarian cancer (abstract #5518) and the dose-finding results to date with a weekly dosing schedule compared with a once every three week schedule (abstract #5558). Abstract #5518: Title: “Preliminary single agent activity of IMGN853, a folate receptor alpha (FRa)-targeting antibody-drug conjugate (ADC), in platinum-resistant epithelial ovarian cancer (EOC) patients (pts): Phase I trial. Gynecologic Cancer Poster Session: May 30, 1:15-4:45pm CT (S Hall A, Board #76), followed by oral discussion with highlights during the Gynecologic Cancer Poster Discussion Session 4:45-6:00pm CT (E354b). Abstract #5558: Title: Phase 1 study of IMGN853, a folate receptor alpha (FRa)-targeting antibody-drug conjugate (ADC) in patients (Pts) with epithelial ovarian cancer (EOC) and other FRA-positive solid tumors. Gynecologic Cancer Poster Session: May 30, 1:15-4:45pm CT (S Hall A, Board #116). There will be several presentations on Roche’s Kadcyla® (ado-trastuzumab emtansine), which uses ImmunoGen’s ADC technology, including one on the data from the MARIANNE Phase III trial (Abstract #507). Title: “Phase III, randomized study of trastuzumab emtansine (T-DM1) ± pertuzumab (P) vs trastuzumab + taxane (HT) for first-line treatment of HER2-positive MBC: Primary results from the MARIANNE study. Breast Cancer Oral Abstract Session: June 1, 10:12-10:24am CT (N Hall B1).
ImmunoGen, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-11-2015
May 4 15
ImmunoGen, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-11-2015 . Venue: Mandarin Oriental Brickell, Miami, Florida, United States.
ImmunoGen, Inc. Presents at Credit Suisse 2015 Antibody Day, May-06-2015 09:10 AM
Apr 29 15
ImmunoGen, Inc. Presents at Credit Suisse 2015 Antibody Day, May-06-2015 09:10 AM. Venue: Credit Suisse, One Madison Avenue at 24th Street, 12th Floor, New York, New York, United States. Speakers: Carol Hausner, Executive Director of Investor Relations & Corporate Communications, Charles Q. Morris, Chief Development Officer and Executive Vice President.
ImmunoGen, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015; Revises Earnings Guidance for the Year Ending June 30, 2015
Apr 24 15
ImmunoGen, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company reported a net loss of $21.6 million, or $0.25 per basic and diluted share, compared to a net loss of $37.5 million, or $0.44 per basic and diluted share, for the same quarter last year. Revenues for the quarter were $11.4 million, compared to $6.9 million for the same period last year. The current period includes a $5.1 million of revenue from license and milestone fees, just principally a $5 million cash milestone payment earned from Novartis. Loss from operations was $21.2 million compared with $37.4 million a year ago.
For the nine months, the company's total revenues were $72.9 million compared with $54.2 million a year ago. Loss from operations was $29.4 million compared with $45.0 million a year ago. Net loss was $30.3 million or $0.35 per basic and diluted share compared with $44.9 million or $0.53 per basic and diluted share a year ago. Cash used in operations was $27.4 million in the period and capital expenditures were $4.5 million.
The company has updated its guidance for its fiscal year ending June 30, 2015. The company's guidance for its net loss is unchanged, and expected to be between $60 million and $65 million. Expected revenues are now projected to be between $85 million and $95 million, compared with previous guidance of between $100 million and $105 million, due to changes in the expected timing of partner milestone events. The company's guidance for cash used in operations and capital expenditures remains unchanged from that issued on January 2015. These are projected to be between $55 million and $60 million and between $7 million and $9 million, respectively.
ImmunoGen, Inc. Appoints Anna Berkenblit as Vice President and Chief Medical Officer
Apr 1 15
ImmunoGen, Inc. announced the appointment of Anna Berkenblit, MD, MMSc, as Vice President and Chief Medical Officer. Dr. Berkenblit reports to Dr. Charles Morris, EVP and Chief Development Officer and is responsible for leading the clinical development of ImmunoGen’s novel, wholly owned product candidates. Dr. Berkenblit has extensive experience in the clinical development of novel anticancer therapies, including five years heading clinical research at two oncology-focused companies. Prior to joining ImmunoGen, Dr. Berkenblit was Senior Vice President, Clinical Development at H3 Biomedicine.