DIRS.INFO The most relevant business & tech news

☆ Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch
▼ + stars: | 2023-12-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter.

Persons: Dan Lyons, Janus Henderson, John Newman, Canaccord Genuity, Janus, Lyons, Bristol Myers Squibb, Karuna, AstraZeneca, Eli Lilly, AbbVie, Jonathan Miller, Miller, bode, Jonathan Krinsky, Krinsky, BTIG's, Jefferies, Michael Yee, Yee, NASH, Madrigal, we're, David Risinger, — CNBC's Michael Bloom Organizations: Drug, Federal, Bristol Myers, Karuna Therapeutics, CART, Bristol Myers Squibb, Cerevel Therapeutics, Securities and Exchange Commission, pharma, P Biotech, Nasdaq Biotech, Apogee Therapeutics, Madrigal Pharmaceuticals, Madrigal, resmetirom, Vertex Pharmaceuticals, Leerink Partners Locations: ImmunoGen

☆ AbbVie to buy cancer drugmaker ImmunoGen for $10 billion as Humira faces heat
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 30 (Reuters) - AbbVie (ABBV.N) will buy ImmunoGen (IMGN.O) for $10.1 billion in cash, it said on Thursday, the latest major drugmaker to buy a developer of 'guided missile' cancer therapies as the company's top-seller Humira grapples with fierce competition. ImmunoGen's Elahere belongs to a new class of treatments called antibody-drug conjugates (ADC) that precisely targets cancer cells, potentially reducing toxicity for other cells. The drug, approved for ovarian cancer patients who have received previous therapies, is also being tested in earlier lines of treatment. AbbVie will also get access to Immunogen's follow-on pipeline of ADCs, including early-stage ovarian cancer candidate IMGN-151 and a mid-stage drug pivekimab sunirine for a rare type of blood cancer. Meanwhile, AbbVie's cancer drugs sales declined more than 8% in the third quarter to $1.51 billion, primarily due to increased competition to Imbruvica.

Persons: Brian Snyder, ImmunoGen's Elahere, AbbVie, IMGN, pivekimab, Immuogen stock's, Immunogen's, Elahere, Imbruvica, Manas Mishra, Leroy Leo, Shinjini Ganguli Organizations: REUTERS, Pfizer, Merck, U.S, Thomson Locations: Cambridge , Massachusetts, U.S, Bengaluru

☆ Jim Cramer explains why it's hard to be bullish on the healthcare sector
▼ + stars: | 2023-11-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday told investors why it's hard to be bullish about healthcare stocks, citing challenges stemming from government action and lack of innovation. According to Cramer, the healthcare sector is "in the crosshairs" of the U.S. government because of the upcoming election. Johnson & Johnson and Bristol Meyers are among several drug makers to file lawsuits against the government, broadly arguing that the pricing measures are unconstitutional. The Federal Trade Commission is doing its best to block mergers in the sector, Cramer said. Aside form drug makers, Cramer added that medical device companies haven't seen their business pick up since Covid, also hurting the sector overall.

Persons: CNBC's Jim Cramer, Cramer, Johnson, Bristol Meyers, Eli Lilly Organizations: Biden Administration, Johnson, Federal Trade Commission Locations: Cigna

☆ Cramer's Lightning Round: Sell ImmunoGen and take the gain
▼ + stars: | 2023-06-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Immunogen's year-to-date stock performance. ImmunoGen : "Yeah, it had a good read out at the ASCO conference, we've been waiting for that cancer drug to pay off, and it actually did. Stock Chart Icon Stock chart icon Ameriprise's year-to-date stock performance. Stock Chart Icon Stock chart icon inTest's year-to-date stock performance. Stock Chart Icon Stock chart icon Southern Co.'s year-to-date stock performance.

Persons: we've, I've Organizations: Southern, Southern Co

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Immunogen's $6,220 ovarian cancer drug to be shipped within days
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Drugmaker Immunogen (IMGN.O) said on Tuesday it will sell its newly approved ovarian cancer drug at a list price of $6,220 per vial and start shipping it "in a matter of days". Most patients will receive three to four vials per treatment cycle, putting the cost at about $18,500 to $25,000 a cycle, said Immunogen Chief Executive Mark Enyedy on a conference call. Late on Monday, Immunogen said the U.S. Food and Drug Administration had approved its drug, mirvetuximab soravtansine, for treatment of platinum-resistant ovarian cancer in adults. Shares of the Massachusetts-based company rose nearly 8% to $6.20 before the bell. Reporting by Bhanvi Satija in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Immunogen's"

6 mentions found