ImmunoGen, Inc. (IMGN) Bundle
A Brief History of ImmunoGen, Inc. (IMGN)
Foundation and Early Years
ImmunoGen, Inc. was founded in 1981 in Cambridge, Massachusetts. The company focused on developing targeted cancer therapeutics using its proprietary antibody-drug conjugate (ADC) technology.
Initial Public Offering
In 1994, ImmunoGen went public with an IPO raising approximately $15 million. The company traded under the ticker symbol IMGN on the NASDAQ.
Technological Advancements
Throughout the late 1990s and early 2000s, ImmunoGen advanced its ADC technology. By 2003, the company had entered into a collaboration with Roche for the development of the ADC product, which would later reach commercial stages.
Key Partnerships and Collaborations
- In 2006, ImmunoGen entered into a collaboration with Eli Lilly for drug development.
- In 2011, ImmunoGen partnered with Takeda Pharmaceutical Company, securing a deal that included an upfront payment of $15 million.
Clinical Development and Successes
In 2012, ImmunoGen's lead product candidate, IMGN853, a targeted therapy for ovarian cancer, entered clinical trials. By 2019, the company reported promising preliminary clinical data for its ADCs.
Financial Performance
As of the end of fiscal year 2022, ImmunoGen reported revenues of $115.6 million. The company had a net loss of $66.4 million for the same year.
Stock Performance
In 2021, the stock price of ImmunoGen saw a high of $8.60 per share. The company’s market capitalization reached approximately $1.6 billion at its peak.
Recent Developments
In 2023, ImmunoGen announced advancements in its clinical pipeline, particularly with the candidate Evofosfamide, which showed a 35% overall response rate in clinical trials for certain solid tumors.
| Year | Key Event | Financial Data | Stock Price (Year High) |
|---|---|---|---|
| 1981 | Founding of ImmunoGen | N/A | N/A |
| 1994 | IPO | $15 million raised | N/A |
| 2006 | Collaboration with Eli Lilly | Upfront payment of $15 million | N/A |
| 2012 | IMGN853 enters clinical trials | N/A | N/A |
| 2022 | Reported revenues | $115.6 million | N/A |
| 2023 | Update on Evofosfamide | N/A | N/A |
Future Prospects
ImmunoGen continues to focus on expanding its pipeline and collaborating with pharmaceutical partners. As of 2023, the company is involved in multiple clinical trials for various ADC candidates.
A Who Owns ImmunoGen, Inc. (IMGN)
Shareholder Structure
Shareholder Structure
The ownership of ImmunoGen, Inc. (IMGN) is comprised of a diverse group of institutional and individual shareholders. As of the latest available data, the breakdown is as follows:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 85.6% | 65,000,000 |
| Insider Ownership | 5.3% | 4,000,000 |
| Retail Investors | 9.1% | 6,900,000 |
Major Institutional Shareholders
Among the institutional investors, several key players hold significant stakes in ImmunoGen, Inc. The following table highlights the top institutional investors and their respective ownership percentages as of the most recent report:
| Institution | Ownership Percentage | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 15.4% | 11,600,000 |
| The Vanguard Group | 10.2% | 7,700,000 |
| State Street Corporation | 8.9% | 6,700,000 |
| Credit Suisse AG | 5.7% | 4,300,000 |
| Invesco Ltd. | 5.1% | 3,800,000 |
Insider Ownership
Insider ownership is a critical factor in understanding the governance of ImmunoGen, Inc. The following table details the ownership of key executives and board members:
| Name | Position | Number of Shares |
|---|---|---|
| Mark Enyedy | President & CEO | 1,200,000 |
| Anna Berkenblit | Chief Medical Officer | 800,000 |
| Eric A. Vaillancourt | Chief Financial Officer | 600,000 |
| Board Member | Board Member | 1,400,000 |
Market Capitalization
As of the latest trading day, ImmunoGen, Inc. has a market capitalization based on its share price. The market cap and share price are as follows:
| Market Capitalization | Share Price (as of last close) |
|---|---|
| $400 million | $3.00 |
Recent Stock Performance
The following data showcases the recent performance of ImmunoGen, Inc.'s stock over a specified period:
| Time Frame | Opening Price | Closing Price | Percentage Change |
|---|---|---|---|
| Last Month | $2.70 | $3.00 | 11.1% |
| Last 6 Months | $1.50 | $3.00 | 100.0% |
| Year to Date | $2.25 | $3.00 | 33.3% |
ImmunoGen, Inc. (IMGN) Mission Statement
Overview
ImmunoGen, Inc. is focused on improving the lives of patients with cancer through the development of targeted therapies. Their mission is to provide innovative and effective therapeutic options that leverage their proprietary antibody-drug conjugate (ADC) technology.
Core Mission Statement
The mission statement of ImmunoGen centers around the commitment to:
- Transform cancer treatment through innovative technologies.
- Pursue the development of targeted therapies for patients with significant unmet medical needs.
- Collaborate with partners to maximize the impact of their ADC platform.
Strategic Goals
ImmunoGen's strategic goals include:
- Advancing clinical development programs for lead candidates.
- Expanding partnerships with pharmaceutical companies.
- Enhancing the ADC platform for improved efficacy and safety.
Financial Overview
As of the fiscal year ending September 30, 2022, ImmunoGen reported the following financial statistics:
| Financial Metric | Amount (USD) |
|---|---|
| Revenue | $39.8 million |
| Net Loss | ($116.6 million) |
| Research and Development Expenses | $88.2 million |
| General and Administrative Expenses | $28.6 million |
| Cash and Cash Equivalents | $126.4 million |
Recent Developments
In 2023, ImmunoGen made significant advancements in their pipeline, including the following:
- Initiation of Phase 3 trials for mirvetuximab soravtansine in ovarian cancer.
- Collaboration with major pharmaceutical firms to enhance drug development.
- Completion of a $50 million equity financing round to support clinical programs.
Market Impact
The market capitalization of ImmunoGen was approximately $1 billion as of October 2023. The company has seen stock price fluctuations largely tied to clinical trial results and partnerships.
Commitment to Patients
ImmunoGen emphasizes their patient-centric approach through:
- Engagement with patient advocacy groups.
- Incorporation of patient feedback in clinical trial designs.
- Commitment to ethical standards in all clinical research.
Future Aspirations
ImmunoGen aims to be a leader in the field of targeted cancer therapeutics by:
- Expanding their ADC platform technologies.
- Increasing the number of clinical candidates in development.
- Building strategic alliances to enhance research capabilities.
How ImmunoGen, Inc. (IMGN) Works
Business Overview
Business Overview
ImmunoGen, Inc. (IMGN) is a biotechnology firm focused on developing targeted antibody-drug conjugates (ADCs) for cancer treatment. The company leverages its proprietary technology to create therapies that specifically target cancer cells while minimizing damage to healthy cells.
Technology Platform
ImmunoGen's technology platform is centered around its ADCs, which combine an antibody that specifically targets a tumor with a potent cytotoxic drug. The company's lead product is Elahere (mirvetuximab soravtansine-gynx), approved by the FDA for treating ovarian cancer.
Recent Financial Performance
As of Q3 2023, ImmunoGen reported:
- Revenue: $24.5 million
- Net Loss: $10.7 million
- Cash and Cash Equivalents: $120.4 million
- Total Assets: $226.7 million
Stock Performance
As of October 2023, the stock performance is as follows:
- Stock Price: $5.21
- Market Capitalization: $1.1 billion
- 52-Week Range: $4.15 - $8.65
Pipeline Development
ImmunoGen has several products in its pipeline:
| Product Name | Indication | Stage of Development | Expected Milestone |
|---|---|---|---|
| Elahere | Ovarian Cancer | Commercial | Revenue Generation |
| IMGN632 | Acute Myeloid Leukemia | Phase 2 | Data Readout Expected Q4 2023 |
| IMGN151 | Solid Tumors | Phase 1 | Initial Data by Mid 2024 |
Collaborations and Partnerships
ImmunoGen engages in strategic partnerships:
- Partnership with Jazz Pharmaceuticals for IMGN632, enhancing market reach and development resources.
- Collaboration with Sanofi for developing novel ADCs, focusing on expanding product offerings.
Market Position
ImmunoGen's position in the oncology market is characterized by:
- Competitive Advantage: Targeted therapies with reduced side effects compared to traditional chemotherapy.
- Market Demand: Growing need for personalized cancer treatments, with the global oncology drug market expected to reach $300 billion by 2025.
Regulatory Environment
ImmunoGen operates under strict regulatory scrutiny:
- FDA Approval: Elahere received accelerated approval based on clinical trial data.
- Ongoing Trials: Multiple trials under FDA oversight for pipeline products.
Future Outlook
The future outlook for ImmunoGen includes:
- Projected Revenue for 2024: $60 million
- Anticipated Milestones: Expansion of clinical trials and potential new product launches.
How ImmunoGen, Inc. (IMGN) Makes Money
Revenue Streams
ImmunoGen, Inc. generates revenue primarily through collaborations, product sales, and research grants.
Collaboration Agreements
Collaboration agreements with pharmaceutical companies are significant for ImmunoGen's revenue. As of the latest data, the company has entered into collaborations with:
- Roche: ImmunoGen received a milestone payment of $50 million in 2023 related to the development of mirvetuximab soravtansine.
- Jazz Pharmaceuticals: In 2022, ImmunoGen entered a deal worth up to $635 million for the development of certain drug candidates.
Product Sales
The commercial launch of mirvetuximab soravtansine in 2022 has been a key product for generating sales. The latest reported product sales figures are:
| Year | Product Sales ($ millions) |
|---|---|
| 2022 | 20 |
| 2023 | 55 |
Research Grants and Funding
Funding from government entities and private organizations for research initiatives also contributes to ImmunoGen's revenue. In 2022, ImmunoGen received a grant from the National Institutes of Health (NIH) totaling $3 million.
Clinical Trials and Milestone Payments
ImmunoGen conducts multiple clinical trials for its pipeline products, which can lead to milestone payments from partners:
- Trials Underway: As of 2023, ImmunoGen has 5 ongoing clinical trials for candidates in its pipeline.
- Expected Milestone Payments: Projections for milestone payments in 2024 are estimated at $40 million.
Financial Performance Metrics
The financial performance of ImmunoGen can be summarized with the following key metrics:
| Metric | Value |
|---|---|
| Market Capitalization | $1.1 billion |
| Total Revenue (2022) | $23 million |
| Net Loss (2022) | -$94 million |
| Cash and Cash Equivalents (Q3 2023) | $250 million |
Future Revenue Potential
ImmunoGen's future revenue potential is heavily reliant on the success of its pipeline candidates, particularly:
- Mirvetuximab Soravtansine: Expected revenue is projected to grow significantly, with analysts forecasting $200 million in sales by 2025.
- Other Pipeline Candidates: There are 3 additional candidates that are expected to enter commercial phases by 2026.
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