ImmunoGen, Inc. (NASDAQ:IMGN), a pioneer in the expanding field of ADCs for the cancer treatment reviewed recent operating results and highlights for the quarter closed December 31, 2017. Mark Enyedy, the CEO and President, expressed that they made considerable growth with the operations in 2017, with four successive quarters of remarkable execution across the firm.
Enyedy reported that operationally, they developed their monotherapy registration trial and published compelling combination report with mirvetuximab, expanded their clinical pipeline, and finalized a high-value association with Jazz Pharmaceuticals supporting their earlier-stage programs. Financially, they added cash of over $235 million and eliminated debt of around $100 million on the balance sheet through financing transactions and business development.
With the momentum they generated in the preceding twelve months, they enter 2018 from a role of strength with a count of important catalysts anticipated during the year. The CEO of ImmunoGen reported that they expect completing patient registration in their FORWARD I Phase III registration study by mid-year, numerous data readouts from their FORWARD II study evaluating combinations with mirvetuximab starting next month and clinical data from their Phase 1 studies of both IMGN632 and IMGN779 later in the year.
With these expected events, ImmunoGen expect another productive year as they advance their pipeline to offer new therapies to patients and enhance value for their shareholders. Recently, the company activated over 100 sites in Europe and North America in the firm’s ongoing Phase III FORWARD I study of mirvetuximab soravtansine as single-agent treatment for platinum-resistant ovarian cancer allowing rapid patient registration.
ImmunoGen developed Phase 1b/2 FORWARD II study in Europe and North America assessing mirvetuximab soravtansine combination plans in distinct expansion cohorts with Avastin® (bevacizumab) and Keytruda® (pembrolizumab) for platinum-resistant disease. The company started patient dosing in a latest cohort to assess the triplet combination of mirvetuximab, carboplatin and Avastin in people with platinum-sensitive disease.