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Biotech / Medical : ImmunoGen
IMGN 31.230.0%Feb 26 4:00 PM EST
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From: Gary Mohilner3/24/2017 7:19:21 PM
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BioTest today announced that IMGN would not Opt In to BT-062. I believe this was the right choice for IMGN, and could be the right thing for BioTest as well. Why? Because BioTest has pretty openly indicated they wanted a partner that went beyond the funding IMGN would have brought in. I believe that IMGN can spend the funds better on wholly owned drug, and I believe that BioTest has a better shot at getting a partner with IMGN not having a 50% interest in the U.S. market.

This drug can only be profitable to IMGN if it's approved, and it's doubtful that BioTest could partner it and get a Phase 3 going with IMGN opting in. Hopefully the next thing we hear on this drug is that BioTest has a partner.

IMGN will be making many presentations at the upcoming AACR conference, largely on preclinical and early clinical products, but it should be positive. The really positive news should come at ASCO later in the year. I cannot remember a time in IMGN's history when so many of it's, and it's partners products are in Phase 3 or registrational Phase 2 Trials. I believe the Bayer product could finish it's trial and submit a BLA or NDA late this year, or early next year. IMGN should see some substantial milestone payments and then royalties as this drug starts sales.

Gary
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