IMGN stock has formed a Double BottomThe double bottom chart pattern is a reversal pattern that indicates the exhaustion of a downward trend and the potential for an upward trend. as news was released on March 19, 2022, about its excellent trial results for platinum resistant ovarian cancer.
ImmunoGen Presents Full Results from Positive Pivotal SORAYA Trial of Mirvetuximab Soravtansine in Ovarian Cancer at SGO Annual Meeting
On March 19, 2022, ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, announced full results from the pivotal SORAYA trial evaluating the efficacy and safety of mirvetuximab soravtansine (mirvetuximab) monotherapy in patients with folate receptor alpha (FRα)-high platinum-resistant ovarian cancer who have been previously treated with Avastin® (bevacizumab). The results are being presented by Dr. Ursula Matulonis in the late-breaking abstract plenary session on Saturday, March 19 at the Society of Gynecologic Oncology (SGO) 2022 Annual Meeting in Phoenix, AZ.
“Patients with platinum-resistant ovarian cancer have limited treatment options, and these are associated with low response rates and significant toxicity,” said Ursula Matulonis, MD, Chief of the Division of Gynecologic Oncology at the Dana-Farber Cancer Institute, Professor of Medicine at the Harvard Medical School, and SORAYA Co-Principal Investigator. “With an objective response rate of 32.4%, far exceeding that seen with current therapies, and a median duration of response approaching seven months, mirvetuximab continues to demonstrate impressive efficacy in patients with platinum-resistant disease who have already received bevacizumab. The anti-tumor activity and consistent safety and tolerability data from the SORAYA trial further underscore the potential of mirvetuximab, if approved, to become a practice-changing, biomarker-driven standard of care for these patients.”
SORAYA is a single-arm study of mirvetuximab in patients with platinum-resistant ovarian cancer whose tumors express high levels of FRα and who have been treated with one to three prior regimens – at least one of which included bevacizumab. The primary endpoint for the study is confirmed objective response rate (ORR) as assessed by investigator and the key secondary endpoint is duration of response (DOR). ORR was also assessed by blinded independent central review (BICR). The study is designed to rule out a 12% ORR, based on expected outcomes of 4% to 13% with available single agent chemotherapy. Data previously generated in a post-hoc pooled analysis of seventy patients from prior studies of mirvetuximab in platinum-resistant disease formed the basis for the design of SORAYA, with an investigator-assessed ORR of 31.4%, median DOR of 7.8 months, and median progression-free survival (PFS) of 4.4 months.
Key Findings from SORAYA
SORAYA enrolled 106 patients with a median of three prior lines of therapy; 51% had three prior lines of therapy and 48% had one to two prior lines of therapy. All patients received prior bevacizumab; 48% of patients received a prior PARP inhibitor (PARPi).
Confirmed ORR by investigator was 32.4% (95% confidence interval [CI]: 23.6%, 42.2%), including five complete responses (CRs). ORR by BICR was 31.6% (95% CI: 22.4%, 41.9%), including five CRs. Response rates were consistent regardless of number of prior lines of therapies or prior PARPi.
1-2 prior lines of therapy: ORR by investigator was 35.3% (95% CI: 22.4%, 49.9%).
3 prior lines of therapy: ORR by investigator was 30.2% (95% CI: 18.3%, 44.3%).
Prior PARPi exposure: ORR by investigator was 38.0% (95% CI: 24.7%, 52.8%).
Without prior PARPi exposure: ORR by investigator was 27.5% (95% CI: 15.9%, 41.7%).
The median DOR was 6.9 months (95% CI: 5.6, 8.1) by investigator as of the March 3, 2022 data cut-off.
The median PFS was 4.3 months (95% CI: 3.7, 5.1) by investigator and 5.5 months (95% CI: 3.8, 6.9) by BICR.
Mirvetuximab was well-tolerated, consistent with the known safety profile seen in more than 700 patients treated in the broader mirvetuximab program. Treatment-related adverse events led to dose reductions in 19% of patients, dose delays in 32% of patients, and discontinuations in 7% of patients. The most common treatment-related adverse events were low-grade and generally reversible, including blurred vision (41% all grade; 6% grade 3), keratopathy (36% all grade; 8% grade 3+), and nausea (29% all grade; 0% grade 3).
“We are thrilled with the SORAYA results, which are remarkably consistent with data previously generated with mirvetuximab in a heavily-pretreated population of platinum-resistant ovarian cancer patients that included prior exposure to bevacizumab. Based on the impressive anti-tumor activity, durability of response, and safety profile observed in SORAYA, we believe mirvetuximab has the potential to displace single-agent chemotherapy as the standard of care for FRα-high platinum-resistant ovarian cancer,” said Anna Berkenblit, MD, Senior Vice President and Chief Medical Officer of ImmunoGen. “We are very grateful for all of the patients and physicians who committed their time and effort to this study, and with these positive results, we expect to submit the BLA for mirvetuximab this month to support potential accelerated approval in the US this year. The strength and consistency of the SORAYA data give us confidence in a positive outcome in the ongoing confirmatory MIRASOL trial, intended to support the potential full approval of mirvetuximab, with top-line data anticipated in the third quarter.”
📺 Can ImmunoGen, Inc. (IMGN) explode higher?[embedyt] https://www.youtube.com/watch?v=jV1YVz2A_eI[/embedyt]
📉 IMGN Stock Technical Analysis
The short-term trend is negative, as is the long-term trend. IMGN is an average performer in the Biotechnology industry, it outperforms 68% of 638 stocks in the same industry. Volume is considerably higher in the last couple of days. IMGN is currently trading in the lower part of its 52-week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still is trading in the middle of its 52-week range.
There is support at 5.13 from a trend line in the weekly time frame. A support zone ranging from 4.74 to 4.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is a resistance zone ranging from 5.77 to 5.83. This zone is formed by a combination of multiple trend lines in multiple time frames. There is another resistance at 6.01 from a horizontal line in the daily time frame. There is also resistance at 6.69 from a trend line in the weekly time frame.
Although the technical rating is bad, IMGN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. IMGN stock has a Setup Rating of 6 out of 10. There is a resistance zone just above the current price starting at 5.77. Right above this resistance zone may be a good entry point. Click here to sign up for email alerts on when IMGN has a Setup Rating of 8 or higher.