ImmunoGen's Newly Approved Ovarian Cancer Drug Listed As Preferred Regime

The National Comprehensive Cancer Network (NCCN) released new guidelines for ovarian cancer treatment, which include ImmunoGen Inc's IMGN Elahere (mirvetuximab soravtansine-gynx) as a preferred regimen.
The guidelines also recommend Elahere as a category 2B regimen (which requires an NCCN panel consensus of at least 50%, but less than 85%, based on lower-level evidence) in combination with Avastin for certain circumstances in the platinum-resistant setting.
William Blair writes that the latter was a particular surprise to the upside since it occurred faster than expected.
Related: After FDA Approval For Ovarian Cancer Drug, ImmunoGen Becomes Top Pick For This Analyst.
In November, FDA conditionally approved Elahere as the first antibody-drug conjugate for ovarian cancer.
While Elahereis currently recognized as a category 2A preferred therapy, the analyst writes that category 1 status is likely to be attained pending positive results from the Phase 3 MIRASOL study, expected in Q1 of 2023.
William Blair reiterates an Outperform rating on Immunogen, citing its differentiated clinical profile, initiatives to broaden its clinical utility, and the growing pipeline.
Price Action: IMGN shares are up 6.15% at $4.83 on the last check Wednesday.
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