ImmunoGen data give ‘very positive’ first look at IMGN632, says Piper Jaffray.

Piper Jaffray analyst Joseph Catanzaro said the abstract for IMGN632 to be presented by ImmunoGen at the ASH meeting on its Phase 1 trial of IMGN632 in relapsed/refractory acute myeloid leukemia gives a “very positive first look,” though he adds that he views the program as carrying significant clinical risk given the novel payload and prior failure of a similar drug. Catanzaro has an Overweight rating and $15 price target on ImmunoGen shares.

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