ImmunoGen (IMGN) Has a Solid, Cancer-Fighting Pipeline - Cramer
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Jim Cramer spoke with ImmunoGen (NASDAQ: IMGN) President and CEO Daniel Junius recently, and asked him to update in the company's progress in the fight against cancer.
Junius says that their TDM1 breast cancers drug is currently seeing positive results in trials, and could become a $2 - $5 billion "blockbuster" when and if approved by the U.S. FDA. The timeframe Junius expects is approval in FY11, due in part to the FDA accelerating the approval of the drug due to its continuously positive results.
Immunogen also said that it has gotten an orphan drug status for a drug that fights lung and ovarian cancers. The drug, dubbed ImmunoGen 901 currently, is about three to four years away from approval, according to Janius.
Janius notes that positive news surrounding their products validates the technology that they are currently employing, but the CEO does not rule out the need for additional financing while the drugs are still in development mode. Janius notes that the company is still in great shape.
Cramer agrees, and maintains his support for the stock, which he initially recommended in November 2009.
Junius says that their TDM1 breast cancers drug is currently seeing positive results in trials, and could become a $2 - $5 billion "blockbuster" when and if approved by the U.S. FDA. The timeframe Junius expects is approval in FY11, due in part to the FDA accelerating the approval of the drug due to its continuously positive results.
Immunogen also said that it has gotten an orphan drug status for a drug that fights lung and ovarian cancers. The drug, dubbed ImmunoGen 901 currently, is about three to four years away from approval, according to Janius.
Janius notes that positive news surrounding their products validates the technology that they are currently employing, but the CEO does not rule out the need for additional financing while the drugs are still in development mode. Janius notes that the company is still in great shape.
Cramer agrees, and maintains his support for the stock, which he initially recommended in November 2009.
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