Shares of Waltham drugmaker ImmunoGen crater after late-stage trial fail

The future of beleaguered biotech ImmunoGen Inc.'s lead drug candidate is uncertain after the company revealed Friday that the ovarian cancer treatment failed in a late stage trial. In a 366-person Phase 3 trial, ImmunoGen's (Nasdaq: IMGN) ovarian cancer drug was linked to a higher initial response rate compared to chemotherapy, but failed to lead to a longer survival rate without the cancer spreading. The company's shares were down 47 percent in premarket trading as of 8 a. m., implying the stock…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news