Health & Fit ImmunoGen ends losing streak as William Blair cites cancer guidance

22:40  28 december  2022
22:40  28 december  2022 Source:   seekingalpha.com

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Oncology-focused biotech ImmunoGen (NASDAQ:IMGN) ended a four-day skid on Wednesday after William Blair pointed to guidelines from the National Comprehensive Cancer (NCCN) to support the potential of the company’s recently approved ovarian cancer therapy Elahere.

Amid concerns over the $6K price tag for Elahere ImmunoGen (IMGN) shares fell in November, a day after its FDA approval for certain adults with FRα-high platinum-resistant ovarian cancer.

However, William Blair analyst Andy Hsieh thinks the NCCN guidelines for ovarian cancer treatment will improve its uptake.

“We are encouraged to see Elahere listed as both a preferred monotherapy and a combination regimen with Avastin in some scenarios,” the analyst wrote.

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“The latter was a particular surprise to the upside, since it occurred faster than our (and likely the Street’s) expectations,” Hsieh added, referring to a combination therapy involving Elahere and Roche’s (OTCQX:RHHBY) (OTCQX:RHHBF) cancer therapy Avastin.

“It is our view that the NCCN listing as a preferred regimen will boost physician uptake of Elahere, given that NCCN continues to be one of the most reliable guidelines among oncologists,” Hsieh said.

Targeting an FDA label expansion, the company has designed a Phase 3 study to evaluate Elahere in combination with Avastin as maintenance therapy in FRα-high recurrent platinum-sensitive disease.

Read: Seeking Alpha contributor Jonathan Faison thinks that ImmunoGen (IMGN) “has a first-mover opportunity with Elahere in an indication (platinum-resistant ovarian cancer) of high unmet need.”

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10 Signs Of Ovarian Cancer You May Be Overlooking .
For those with ovarian cancer, early detection of the disease is vital. However, many symptoms might be overlooked. Here's what you should look out for.According to the American Cancer Society, approximately 19,880 women will be diagnosed with ovarian cancer in the United States this year. Furthermore, the disease will claim the lives of more than 12,000 women. Ovarian cancer is the leading cause of death among female reproductive cancers.

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