- The National Comprehensive Cancer Network (NCCN) released new guidelines for ovarian cancer treatment, which include ImmunoGen Inc’s (NASDAQ:IMGN) Elahere (mirvetuximab soravtansine-gynx) as a preferred regimen.
- The guidelines also recommend Elahere as a category 2B regimen (which requires an NCCN panel consensus of at least 50%, but less than 85%, based on lower-level evidence) in combination with Avastin for certain circumstances in the platinum-resistant setting.
- William Blair writes that the latter was a particular surprise to the upside since it occurred faster than expected.
- Related: After FDA Approval For Ovarian Cancer Drug, ImmunoGen Becomes Top Pick For This Analyst.
- In November, FDA conditionally approved Elahere as the first antibody-drug conjugate for ovarian cancer.
- While Elahereis currently recognized as a category 2A preferred therapy, the analyst writes that category 1 status is likely to be attained pending positive results from the Phase 3 MIRASOL study, expected in Q1 of 2023.
- William Blair reiterates an Outperform rating on Immunogen, citing its differentiated clinical profile, initiatives to broaden its clinical utility, and the growing pipeline.
- Price Action: IMGN shares are up 6.15% at $4.83 on the last check Wednesday.
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