Oncology-focused biotech ImmunoGen (NASDAQ:IMGN) ended a four-day skid on Wednesday after William Blair pointed to tips from the Nationwide Complete Most cancers (NCCN) to help the potential of the corporate’s just lately authorised ovarian most cancers remedy Elahere.
Amid considerations over the $6K price ticket for Elahere ImmunoGen (IMGN) shares fell in November, a day after its FDA approval for sure adults with FRα-high platinum-resistant ovarian most cancers.
Nevertheless, William Blair analyst Andy Hsieh thinks the NCCN tips for ovarian most cancers remedy will enhance its uptake.
“We’re inspired to see Elahere listed as each a most popular monotherapy and a mixture routine with Avastin in some eventualities,” the analyst wrote.
“The latter was a specific shock to the upside, because it occurred sooner than our (and sure the Avenue’s) expectations,” Hsieh added, referring to a mixture remedy involving Elahere and Roche’s (OTCQX:RHHBY) (OTCQX:RHHBF) most cancers remedy Avastin.
“It’s our view that the NCCN itemizing as a most popular routine will enhance doctor uptake of Elahere, on condition that NCCN continues to be some of the dependable tips amongst oncologists,” Hsieh mentioned.
Focusing on an FDA label growth, the corporate has designed a Section 3 research to judge Elahere together with Avastin as upkeep remedy in FRα-high recurrent platinum-sensitive illness.
Learn: In search of Alpha contributor Jonathan Faison thinks that ImmunoGen (IMGN) “has a first-mover alternative with Elahere in a sign (platinum-resistant ovarian most cancers) of excessive unmet want.”