ImmunoGen surges as ovarian cancer drug succeeds in late-stage study

ImmunoGen

03/05/2023 12:17

** Shares of drug developer ImmunoGen Inc  IMGN.O  nearly
double to $9.96 before the bell
    ** Co says its experimental drug to treat a type of ovarian
cancer helped extend the lives of patients in a late-stage trial
    ** The drug candidate, Elahere, also significantly prolonged
the time that a patient lives with the disease without it
getting worse -IMGN
    ** The US FDA had earlier given accelerated approval for
Elahere in the same indication -IMGN
    ** IMGN plans to submit a marketing application in Europe
and a supplemental application in the US for the conversion to a
regular approval in H2 this year
    ** The drug comes with a boxed warning of ocular toxicities,
including visual impairment, dry eye and eye pain -IMGN
    ** Up to last close, stock had risen ~5% this year

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))