{"id":434901,"date":"2021-02-12T06:33:30","date_gmt":"2021-02-12T11:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=434901"},"modified":"2021-02-12T06:33:30","modified_gmt":"2021-02-12T11:33:30","slug":"immunogen-reports-recent-progress-and-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/immunogen-reports-recent-progress-and-2020-financial-results\/","title":{"rendered":"ImmunoGen Reports Recent Progress and 2020 Financial Results"},"content":{"rendered":"

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ImmunoGen Reports Recent Progress and 2020 Financial Results<\/b><\/p>\n

Top-Line Data from Pivotal SORAYA Trial for Mirvetuximab Soravtansine in Ovarian Cancer Expected in Q3 2021; BLA to be Submitted by Year-End<\/i><\/p>\n

Full Approval Pathway for IMGN632 in BPDCN Aligned with FDA; Updated Phase 1\/2 Data in BPDCN Presented at ASH<\/i><\/p>\n

Balance Sheet Funds Operations into the Second Half of 2022<\/i><\/p>\n

Conference Call to be Held at 8:00 a.m. ET Today<\/i><\/p>\n

WALTHAM, Mass.–(BUSINESS WIRE<\/a>)–ImmunoGen Inc.<\/a> (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today reviewed recent progress in the business and reported financial results for the quarter and year ended December 31, 2020.\n<\/p>\n

\n\u201cDespite the challenges of the pandemic, 2020 was a transformative year for ImmunoGen, as we adjusted to new ways of working, accelerated our portfolio, strengthened our management team and balance sheet, and positioned the business for two potential product launches next year,\u201d said Mark Enyedy, ImmunoGen\u2019s President and Chief Executive Officer. \u201cWithin our portfolio, we advanced accrual in the pivotal SORAYA and confirmatory MIRASOL trials for mirvetuximab soravtansine in patients with ovarian cancer to support our projected timelines for top-line data and regulatory submissions. In addition, we established a second registration program with our CD123-targeting ADC, IMGN632, for which we received Breakthrough Therapy designation and aligned with FDA on a path to full approval in BPDCN. Furthermore, we began dosing patients in the Phase 1 study of IMGC936, our first-in-class ADAM9-targeting ADC for solid tumors, and transitioned IMGN151, our next-generation FR\u03b1-targeting ADC, into preclinical development. Finally, through a combination of business development and activity under our ATM facility, we added over $140 million to our balance sheet in the fourth quarter.\u201d\n<\/p>\n

\nEnyedy continued, \u201cWith the benefit of our progress in 2020, we enter this year with significant momentum and strong prospects for the business. For mirvetuximab, these include completing enrollment in SORAYA and reporting top-line pivotal data in the third quarter, followed by a planned BLA submission by the end of the year. With IMGN632, we expect top-line pivotal data in BPDCN in 12 to 18 months and anticipate sharing data from our Phase 1b\/2 study of IMGN632 in combination with azacitidine and\/or venetoclax in AML patients at ASH in December. We also anticipate completing dose escalation in the clinical study of IMGC936, with initial data late this year or early 2022. Finally, we expect to submit the IND for IMGN151 by year-end. Taken together, our pivotal programs, experienced management team, and strong balance sheet position us well to execute on our strategy and transition ImmunoGen to a fully-integrated oncology company with two products on the market in 2022.\u201d\n<\/p>\n

RECENT PROGRESS<\/b><\/p>\n