Midcap Biotech Stock ImmunoGen is Shooting Higher Today: Here's Why
Portfolio Pulse from Vandana Singh
ImmunoGen Inc (NASDAQ:IMGN) announced positive results from the Phase 3 MIRASOL trial of Elahere, showing a statistically significant improvement in Progression Free Survival (PFS) compared to chemotherapy in patients with platinum-resistant ovarian cancer. The results were presented at the 2023 ASCO Annual Meeting. IMGN shares are up 7.86% at $15.50 during the premarket session.
June 05, 2023 | 12:27 pm
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POSITIVE IMPACT
ImmunoGen's positive Phase 3 MIRASOL trial results for Elahere show significant improvement in PFS for ovarian cancer patients, potentially leading to increased investor interest and a rise in stock price.
The positive results from the Phase 3 MIRASOL trial of Elahere demonstrate a significant improvement in PFS for patients with platinum-resistant ovarian cancer. This is likely to increase investor interest in ImmunoGen, as it indicates the potential success of Elahere in the market. As a result, the stock price of IMGN has already risen by 7.86% in the premarket session, and this trend may continue in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100