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Hike In Share Prices Of ImmunoGen

It has been a great week for ImmunoGen Inc. as it has got a hike in its share prices. Theshare prices went up after the companyclaimed that the research work on potential breast cancer treatment has achieved a success in a midstage.
The stock prices jumped by $2.08 or 22.4 percent to reach $11.38 in the afternoon trading station. Shares of the company have reached $12.03 in the last decade.
This biotechnology company is making a medicine called T-DM1 in collaboration with Swiss drugmaker Roche. This drug medicine is composed with the breast cancer drug trastuzumab. This drug is commercially marketed as Herceptin by Roche’s
Genentech.
The latest report revealed that the patients treated with the drug T-DM1 had got moderate improvement in the progression-free survival as compared to people who are treated only with Herceptin and chemotherapy. This study has involved 137 patients as the initial treatment of breast cancer.
Progression-free survival is claimed as the time period the person survives without any progression of the disease.
"This top-line information about T-DM1's performance in the first-line setting is very encouraging and adds to the favourable efficacy and safety data reported across a number of T-DM1 studies", said ImmunoGen President and CEO Daniel Junius, in a statement.

17:19 | Labels: , , , |

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