ImmunoGen Inc (IMGN)

[skitahoe]

I believe that IMGN will do a ROW partnership for IMGN853, but probably not until they're closer to approval. I believe some Phase 2 data will be revealed later this year for trials of the drug in combination with others that could be very positive. The Phase 3 which is being run as a monotherapy should produce results worthy of approval, but I believe it will be clear the drug is more effective with certain drug combinations.

I'm uncertain if IMGN will want just the U.S., or all of North America in such a partnership. Partnering a drug that's near approval should bring in hundreds of millions or more, if that's the way they wish to structure the partnership. Of course the other option is less up front but much larger royalty rates, I really don't know what they'll be after. This certainly could be a blockbuster drug many times over. If this drug is approved before the next SGEN drug is approved, I believe you'll see IMGN's market cap exceed SGEN's.

Gary