RBC Capital analyst Kennen MacKey kept his Outperform rating and $6 price target on Immunogen, saying the stock selloff in response to its lead asset mirvetuximab soravtansine missing the end point for treatment of ovarian cancer is overdone. The analyst notes that the drug “unequivocally demonstrated efficacy in FRalpha-high patients across all efficacy measures”, adding that there is still potential for its path to market given the FDA flexibility in areas of high unmet medical need such as ovarian cancer after the company runs another Phase 3 trial that will take about 2 years.
https://thefly.com/landingPageNews.php?id=2873725
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