ImmunoGen

ImmunoGen Announces Pricing of Upsized Public Offering of Common Stock

Retrieved on: 
Friday, May 5, 2023
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ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced the pricing of an underwritten public offering of 26,000,000 shares of its common stock at a price of $12.50 per share, before underwriting discounts and commissions.

Key Points: 
  • ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced the pricing of an underwritten public offering of 26,000,000 shares of its common stock at a price of $12.50 per share, before underwriting discounts and commissions.
  • The offering is expected to close on or about May 9, 2023, subject to satisfaction of customary closing conditions.
  • ImmunoGen also granted the underwriters a 30-day option to purchase up to an additional 3,900,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.
  • All of the shares of common stock in the offering are to be sold by ImmunoGen.

ImmunoGen Announces Proposed Public Offering of Common Stock

Retrieved on: 
Wednesday, May 3, 2023
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ImmunoGen also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the number of shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions.

Key Points: 
  • ImmunoGen also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the number of shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions.
  • All of the shares of common stock to be sold in the offering are to be offered by ImmunoGen.
  • There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
  • Jefferies, Goldman Sachs & Co. LLC, and Guggenheim Securities are acting as joint book-running managers for the proposed offering.

ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Retrieved on: 
Monday, May 1, 2023
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In addition, ImmunoGen announced that the Compensation Committee approved, effective as of April 28, 2023, grants of non-qualified stock options to purchase an aggregate of 131,600 shares of its common stock (the “Employee Options”) and RSUs covering 65,750 shares of its common stock under the Inducement Plan to five other new employees.

Key Points: 
  • In addition, ImmunoGen announced that the Compensation Committee approved, effective as of April 28, 2023, grants of non-qualified stock options to purchase an aggregate of 131,600 shares of its common stock (the “Employee Options”) and RSUs covering 65,750 shares of its common stock under the Inducement Plan to five other new employees.
  • The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individuals’ entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
  • The Kalofonos Option and the Employee Options have an exercise price of $5.39 per share, which is equal to the closing price of ImmunoGen’s common stock on the Nasdaq Global Select Market on April 28, 2023.
  • Each option and RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of a stock option agreement and an RSU agreement covering the respective grants.

ImmunoGen Reports Recent Progress and First Quarter 2023 Financial Results

Retrieved on: 
Friday, April 28, 2023
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(Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today reviewed recent progress in the business and reported financial results for the quarter ended March 31, 2023.

Key Points: 
  • (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today reviewed recent progress in the business and reported financial results for the quarter ended March 31, 2023.
  • Research and development expenses rose to $51.6 million for the quarter ended March 31, 2023 compared to $44.3 million for the quarter ended March 31, 2022.
  • Selling, general and administrative expenses were $40.0 million for the quarter ended March 31, 2023 compared to $16.6 million for the quarter ended March 31, 2022.
  • ImmunoGen had $201.2 million in cash and cash equivalents as of March 31, 2023, compared with $275.1 million as of December 31, 2022.

ImmunoGen Appoints Isabel Kalofonos as Senior Vice President and Chief Commercial Officer

Retrieved on: 
Monday, April 24, 2023
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ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that Isabel Kalofonos has been appointed Senior Vice President and Chief Commercial Officer.

Key Points: 
  • ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that Isabel Kalofonos has been appointed Senior Vice President and Chief Commercial Officer.
  • "We are excited to welcome Isabel to ImmunoGen's Executive Committee to lead our best-in-class commercial organization at this important moment for the company.
  • Before Shire, she worked in commercial, business strategy, and product launch positions at Forest Labs, Bionevia Pharmaceuticals, and Sunovion Pharmaceuticals.
  • "I am delighted to join ImmunoGen during this exciting time in its evolution into a commercial organization," said Ms. Kalofonos.

ImmunoGen Announces Non-Dilutive Term Loan Financing for Up to $175 Million with Pharmakon Advisors

Retrieved on: 
Thursday, April 6, 2023
Biotechnology, Health, Pharmaceutical, Clinical Trials, Oncology, ImmunoGen, Cancer, Spacecraft, Pharmakon—Danish College of Pharmacy Practice, Interest, Patient, Goldman Sachs, IMGN, Vaccine, Security (finance), LP

ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced it has entered into a term loan financing facility for up to $175 million with entities managed by Pharmakon Advisors, LP ("Pharmakon").

Key Points: 
  • ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced it has entered into a term loan financing facility for up to $175 million with entities managed by Pharmakon Advisors, LP ("Pharmakon").
  • Proceeds from the agreement will strengthen ImmunoGen's balance sheet and provide the Company with additional capital to support its growth trajectory.
  • Under the terms of the agreement, the loan facility will be available to ImmunoGen in two tranches.
  • Interest will accrue at the three-month Secured Overnight Financing Rate, subject to a 2.75% floor, plus 8.00% per annum.

ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Retrieved on: 
Monday, April 3, 2023
Pharmaceutical, Health, Oncology, ImmunoGen, Cancer, Employment, Spacecraft, RSU, Compensated emancipation, IMGN, Vaccine

ImmunoGen, Inc. , (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on March 31, 2023, the Compensation Committee of the Company’s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 106,600 shares of its common stock and restricted stock units (“RSUs”) covering 7,800 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”).

Key Points: 
  • ImmunoGen, Inc. , (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on March 31, 2023, the Compensation Committee of the Company’s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 106,600 shares of its common stock and restricted stock units (“RSUs”) covering 7,800 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”).
  • The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
  • The options have an exercise price of $3.84 per share, which is equal to the closing price of ImmunoGen’s common stock on the Nasdaq Global Select Market on March 31, 2023.
  • Each option and RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of a stock option agreement and an RSU agreement covering the respective grants.

ImmunoGen Presents Final Overall Survival and Additional Efficacy Data from the SORAYA Trial at SGO Annual Meeting

Retrieved on: 
Saturday, March 25, 2023
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ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced final overall survival data and an evaluation of sequence of therapy in the pivotal SORAYA trial of mirvetuximab soravtansine in patients with folate receptor alpha-high platinum-resistant ovarian cancer who had been previously treated with bevacizumab will be presented by Dr. Robert Coleman in a plenary session on Saturday, March 25, at the Society of Gynecologic Oncology (SGO) 2023 Annual Meeting in Tampa, Florida.

Key Points: 
  • ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced final overall survival data and an evaluation of sequence of therapy in the pivotal SORAYA trial of mirvetuximab soravtansine in patients with folate receptor alpha-high platinum-resistant ovarian cancer who had been previously treated with bevacizumab will be presented by Dr. Robert Coleman in a plenary session on Saturday, March 25, at the Society of Gynecologic Oncology (SGO) 2023 Annual Meeting in Tampa, Florida.
  • Title: Mirvetuximab Soravtansine in Patients with Platinum-Resistant Ovarian Cancer with High Folate Receptor Alpha Expression: Evaluation of Sequence of Therapy on Anti-Tumor Activity in the SORAYA Study

Oxford BioTherapeutics to Announce New Fully Integrated ADC Engine at World ADC Conference 2023

Retrieved on: 
Thursday, March 9, 2023
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Oxford, UK and San Jose, Calif., 9 March 2023 - Oxford BioTherapeutics Ltd. (OBT), a clinical stage oncology company with a pipeline of immuno-oncology and antibody-drug conjugate (ADC)-based therapies, today announced it will reveal its new fully integrated ADC engine, combining its internationally recognised target discovery and ADC development capabilities, at the 13th Annual World ADC Conference being held in London, UK, from 13 to 16 March 2023.

Key Points: 
  • Oxford, UK and San Jose, Calif., 9 March 2023 - Oxford BioTherapeutics Ltd. (OBT), a clinical stage oncology company with a pipeline of immuno-oncology and antibody-drug conjugate (ADC)-based therapies, today announced it will reveal its new fully integrated ADC engine, combining its internationally recognised target discovery and ADC development capabilities, at the 13th Annual World ADC Conference being held in London, UK, from 13 to 16 March 2023.
  • “I am delighted to announce OBT’s novel, fully integrated ADC engine, which brings together our internal capabilities in target discovery and drug design and development,” said Christian Rohlff, CEO, Oxford BioTherapeutics.
  • “We are very pleased to have a significant company presence at this year’s World ADC Conference and to present abstracts highlighting our proprietary OGAP® platform and our ADC collaboration with ImmunoGen.
  • The two World ADC Conference abstracts describe the latest high-impact outputs from OBT’s proprietary proteomic database OGAP® and its ongoing collaboration with ImmunoGen to develop multiple, first-in-class ADCs.

ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Retrieved on: 
Wednesday, March 1, 2023
Oncology, Health, Research, Pharmaceutical, Science, Biotechnology, Cancer, RSU, Employment, Compensated emancipation, IMGN, Spacecraft, ImmunoGen, Vaccine

ImmunoGen, Inc. , (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on February 28, 2023, the Compensation Committee of the Company’s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 49,450 shares of its common stock and restricted stock units (“RSUs”) covering 15,200 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”).

Key Points: 
  • ImmunoGen, Inc. , (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on February 28, 2023, the Compensation Committee of the Company’s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 49,450 shares of its common stock and restricted stock units (“RSUs”) covering 15,200 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the “Inducement Plan”).
  • The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
  • The options have an exercise price of $3.88 per share, which is equal to the closing price of ImmunoGen’s common stock on the Nasdaq Global Select Market on February 28, 2023.
  • Each option and RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of a stock option agreement and an RSU agreement covering the respective grants.