Biotech Mailbag: Study Boosts ImmunoGen

10/17/08 - 11:37 AM EDT

Adam Feuerstein

This column originally posted on RealMoney.com at 7:06 a.m. EDT. For more information about subscribing to RealMoney, please click here.

Let's get right to your email.

Vic R. asks for an ImmunoGen (IMGN Quote) update after Tuesday's third-quarter earnings report from Genentech (DNA Quote).

Genentech's pipeline update Tuesday brought good news for ImmunoGen when the company announced that it was advancing T-DM1 into a phase III study as a second-line treatment for Her-2 positive metastatic breast cancer.

Recall that Genentech is using technology from ImmunoGen to develop a second-generation version of Herceptin that combines the monoclonal antibody with a tumor-killing chemotherapy payload. That drug is T-DM1.

The newly announced phase III study will enroll 580 Her-2 positive metastatic breast cancer patients who have failed first-line treatment with Herceptin. Patients will be randomized to treatment with either T-DM1 or a combination of GlaxoSmithKline's (GSK Quote) Tykerb and the chemo drug capecitabine. The primary endpoint of the study is progression-free survival.

Explained simply, this new phase III study is designed to pit T-DM1 head to head against Tykerb, which is currently the only drug approved to treat breast cancer patients whose tumors continue to grow after treatment with Herceptin.

One more T-DM1 update to note. Genentech will be presenting updated phase II data on T-DM1 at the San Antonio Breast Cancer Symposium in December.

Biotech Select

ImmunoGen is a long pick in the Biotech Select model portfolio. My investment thesis hinges largely on Genentech pushing ahead with development of T-DM1, so Tuesday's announcement was very important -- and very welcome.

ImmunoGen shares fell 10% Wednesday, which isn't exactly the reaction I wanted to see, but then, this market isn't too friendly to small-cap biotech stocks, as we know all too well.


From Alex S.: "Why, and under what circumstances, would a company release important Phase III trial data only after they submit a new drug application for their product?"

< Previous
1 2 3
Your Recent Quotes: Quote Up0 | Quote Down0
 
Dow S&P 500 NASDAQ
Oil*
65.43
8,280.74
896.42
1,796.52
10 Yr
3.50%
223.32
26.91
49.20
-2.63%
-2.91%
-2.67%
Data delayed 20 min
Get Jim Cramer's Free Newsletter

The Daily Booyah!
Get your daily dose of Cramer in your inbox.
Submit
We respect your privacy.

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer's latest picks now!

Brokerage Partners