Here’s Why ImmunoGen Jumped 12.4% Today

Shares of ImmunoGen (NASDAQ: IMGN) closed Wednesday 12.4% higher as investors piled into the biotech ahead of the American Society of Hematology (ASH) Annual Meeting, which starts Saturday.http://investor.immunogen.com/news-releases/news-release-details/immunogen-present-new-data-imgn632-61st-ash-annual-meeting

On Monday afternoon at ASH, ImmuoGen is scheduled to present data from an early-stage phase 1 clinical trial of IMGN632 in patients with two types of blood cancers: acute myeloid leukemia (AML) and blastic plasmacytoid dendritic cell neoplasm (BPDCN).

An abstract for the presentation released last month showed IMGN632 produced a 32% response rate in 19 patients with AML who were treated at the dose that will be used in the drug's phase 2 study. In patients with BPDCN, the response rate was even higher at 43%, although there were only seven evaluable patients.

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Source Fool.com