Immunogen
| eröffnet am: | 08.11.13 09:35 von: | Chalifmann3 |
| neuester Beitrag: | 30.11.23 14:33 von: | warkla2 |
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08.11.13 09:35
#1
Chalifmann3
Immunogen
Gute einstiegschance gerade in den next gewneration cancer play:
Roche's ADC, Kadcyla, produced with its partner ImmunoGen (NASDAQ: IMGN ) , links Herceptin to a toxin. Kadcyla seeks out the cancer cell just as Herceptin does, but as Herceptin blocks the cell's growth signals, the toxin seeps into the cell and kills it. This is a much more potent solution than Herceptin's method of starving and marking cancer cells.
Although Kadcyla was only approved in February, it has already generated $87 million in sales in the first half of the year. Analysts believe the treatment could eventually generate peak sales between $2 billion to $5 billion.
ImmunoGen, on the other hand, hasn't attracted as much attention as Celldex, even though it produced Roche's Kadcyla. From its deal with Roche, ImmunoGen received a $10.5 million payment upon Kadcyla's FDA approval in February, and is entitled to royalties on sales up to 5%.
Last quarter, ImmunoGen's revenue -- which are entirely composed of R&D support, license, milestone, and clinical reimbursement fees -- rose 83% year over year to $2.2 million.
ImmunoGen recently announced the market approval of Kadcyla in Japan, which triggers a $5 million milestone payment from Roche. It also reported a positive opinion from the EU's Committee of Medicinal Products for Human Use, which could clear it for market approval in Europe by the end of 2013.
However, investors aren't as excited about ImmunoGen because all of its treatments besides Kadcyla are in phase 2 trials or earlier. However, its pipeline is well diversified with treatment candidates for lung cancer, ovarian cancer, lymphoma, and leukemia. If more ADCs are approved and Kadcyla reaches its peak sales targets, then ImmunoGen could have a lot more upside ....
MFG
Chali
Roche's ADC, Kadcyla, produced with its partner ImmunoGen (NASDAQ: IMGN ) , links Herceptin to a toxin. Kadcyla seeks out the cancer cell just as Herceptin does, but as Herceptin blocks the cell's growth signals, the toxin seeps into the cell and kills it. This is a much more potent solution than Herceptin's method of starving and marking cancer cells.
Although Kadcyla was only approved in February, it has already generated $87 million in sales in the first half of the year. Analysts believe the treatment could eventually generate peak sales between $2 billion to $5 billion.
ImmunoGen, on the other hand, hasn't attracted as much attention as Celldex, even though it produced Roche's Kadcyla. From its deal with Roche, ImmunoGen received a $10.5 million payment upon Kadcyla's FDA approval in February, and is entitled to royalties on sales up to 5%.
Last quarter, ImmunoGen's revenue -- which are entirely composed of R&D support, license, milestone, and clinical reimbursement fees -- rose 83% year over year to $2.2 million.
ImmunoGen recently announced the market approval of Kadcyla in Japan, which triggers a $5 million milestone payment from Roche. It also reported a positive opinion from the EU's Committee of Medicinal Products for Human Use, which could clear it for market approval in Europe by the end of 2013.
However, investors aren't as excited about ImmunoGen because all of its treatments besides Kadcyla are in phase 2 trials or earlier. However, its pipeline is well diversified with treatment candidates for lung cancer, ovarian cancer, lymphoma, and leukemia. If more ADCs are approved and Kadcyla reaches its peak sales targets, then ImmunoGen could have a lot more upside ....
MFG
Chali
08.11.13 10:42
#2
Chalifmann3
dont worry be happy
ImmunoGen (NASDAQ: IMGN ) dropped a startling 19% Tuesday and was down a few more points Wednesday.
Having your top wholly owned drug fail in its lead indication will do that.
The biotech stopped a phase 2 trial testing IMGN901 in patients with small-cell lung cancer. The independent data monitoring committee recommended stopping the trial because patients taking IMGN901 in combination with two chemotherapy treatments, etoposide and carboplatin, didn't fare any better than the patients who only received the chemotherapy regimen.
On the surface, that doesn't seem to justify a 19% stock drop. Small-cell lung cancer is notoriously hard to treat; investors had to understand that it was far from a sure thing.
What seems to have investors spooked is that there was an imbalance in the rate of infection and infection-related deaths between the two treatment groups. ImmunoGen said 198 patients received IMGN901 as a single agent in early trials, and there was only one incidence of infection-related death.
Taking etoposide and carboplatin makes lung cancer patients susceptible to infection, so it's not particularly surprising that adding another agent would exacerbate the situation. Presumably etoposide and carboplatin are killing some of the immune cells responsible for fighting off infections; adding IMGN901 pushes them over the edge.
Etoposide and carboplatin are standard chemotherapies that work by killing cells that are replicating; tumor cells, hair follicles, immune cells -- the drugs will kill them all. IMGN901 is an antibody-drug conjugate. The antibody is supposed to direct the drug to the tumor, where the drug kills the tumor cell.
IMGN901 is targeted to CD56, a cell adhesion molecule that's expressed on the outside of tumors. It's also expressed on -- you guessed it -- immune cells, specifically natural killer and activated T cells. The immune cell killing might make it useless as a treatment for solid tumors, but IMGN901 might still be effective for blood cancers, such as myeloma.
The other possibility -- the one that has investors worried -- is that IMGN901 might be killing immune cells because the toxic drug is detaching from the antibody and killing those cells like any other untargeted chemotherapy. If that's the case -- and I don't think we have enough information to know one way or the other -- it could be bad news for ImmunoGen's platform.
ImmunoGen has deals with five other companies that have drugs in the clinic using its antibody-drug conjugate technology. If IMGN901 is failing to stay together, the linker between the two might need to overhauled. That would be a huge boost for Seattle Genetics (NASDAQ: SGEN ) , which has a competing antibody-drug conjugate technology.
It's hard to know for sure, but ImmunoGen looks like a reasonable bad-news buy at this point. Even if IMGN901 is dead, as long as the technology is still working, the haircut it has gotten is unjustified. ImmunoGen still has three other wholly owned drugs in the clinic and the aforementioned partners, one of which is already generating royalties.
A pair trade -- buying ImmunoGen and Seattle Genetics -- could make the bad-news buy less risky. If it turns out ImmunoGen's technology is the issue, Seattle Genetics will presumably be more valuable, but the upside for ImmunoGen if the issue is molecule-specific is much higher than any downside for Seattle Genetics.
Having your top wholly owned drug fail in its lead indication will do that.
The biotech stopped a phase 2 trial testing IMGN901 in patients with small-cell lung cancer. The independent data monitoring committee recommended stopping the trial because patients taking IMGN901 in combination with two chemotherapy treatments, etoposide and carboplatin, didn't fare any better than the patients who only received the chemotherapy regimen.
On the surface, that doesn't seem to justify a 19% stock drop. Small-cell lung cancer is notoriously hard to treat; investors had to understand that it was far from a sure thing.
What seems to have investors spooked is that there was an imbalance in the rate of infection and infection-related deaths between the two treatment groups. ImmunoGen said 198 patients received IMGN901 as a single agent in early trials, and there was only one incidence of infection-related death.
Taking etoposide and carboplatin makes lung cancer patients susceptible to infection, so it's not particularly surprising that adding another agent would exacerbate the situation. Presumably etoposide and carboplatin are killing some of the immune cells responsible for fighting off infections; adding IMGN901 pushes them over the edge.
Etoposide and carboplatin are standard chemotherapies that work by killing cells that are replicating; tumor cells, hair follicles, immune cells -- the drugs will kill them all. IMGN901 is an antibody-drug conjugate. The antibody is supposed to direct the drug to the tumor, where the drug kills the tumor cell.
IMGN901 is targeted to CD56, a cell adhesion molecule that's expressed on the outside of tumors. It's also expressed on -- you guessed it -- immune cells, specifically natural killer and activated T cells. The immune cell killing might make it useless as a treatment for solid tumors, but IMGN901 might still be effective for blood cancers, such as myeloma.
The other possibility -- the one that has investors worried -- is that IMGN901 might be killing immune cells because the toxic drug is detaching from the antibody and killing those cells like any other untargeted chemotherapy. If that's the case -- and I don't think we have enough information to know one way or the other -- it could be bad news for ImmunoGen's platform.
ImmunoGen has deals with five other companies that have drugs in the clinic using its antibody-drug conjugate technology. If IMGN901 is failing to stay together, the linker between the two might need to overhauled. That would be a huge boost for Seattle Genetics (NASDAQ: SGEN ) , which has a competing antibody-drug conjugate technology.
It's hard to know for sure, but ImmunoGen looks like a reasonable bad-news buy at this point. Even if IMGN901 is dead, as long as the technology is still working, the haircut it has gotten is unjustified. ImmunoGen still has three other wholly owned drugs in the clinic and the aforementioned partners, one of which is already generating royalties.
A pair trade -- buying ImmunoGen and Seattle Genetics -- could make the bad-news buy less risky. If it turns out ImmunoGen's technology is the issue, Seattle Genetics will presumably be more valuable, but the upside for ImmunoGen if the issue is molecule-specific is much higher than any downside for Seattle Genetics.
08.11.13 18:20
#3
butzerle
Also mir sind die zu teuer.
abzüglich Cash wird der Laden mit 1MRD bewertet. Das für die Pipeline und die noch nicht klaren Vermarktungsmöglichkeiten der bislang in sehr begrenzter Indikation zugelassenen Kadcyla - ist mir einfach viel zu viel
08.11.13 19:55
#4
Chalifmann3
stimmt
Ich bin auch nicht eingestiegen,frühestens ,wenn die noch 30-50% fallen sollten.Übigens,deine "Rechnung" mit abzüglich Cash würde bedeuten,dass du Ariad gerade umsonst kriegst,denn die notieren genau auf Cash ! Mal beobachten .....
08.11.13 19:58
#5
Chalifmann3
übrigens
Immunogen ist zwar teuer,aber vergleichsweise also relativ billig ! Schau dir Seattle Genetics mit ähnlicher Technologie und Pipeline an,die sind 5 MRD wert !
08.11.13 20:47
#6
butzerle
So was würde ich nie kaufen
Siehe Ariad - da wird im Test ein Risikofaktor entdeckt und alles geht den Bach runter. Allerdings musst du neben dem Cashbestand auch noch die Burnquote einbeziehen (evt. noch anstehende Milestonezahlungen gegenrechnen und dann kannst du einigermaßen abschätzen, wann die nächste Dilutionaktion durchgeführt werden muss.
Daher mag ich ja auch VICL oder CNDO - da droht diesbezüglich nicht viel und die Companies sind von der Pipeline sehr moderat bewertet.
Daher mag ich ja auch VICL oder CNDO - da droht diesbezüglich nicht viel und die Companies sind von der Pipeline sehr moderat bewertet.
08.11.13 20:59
#7
Chalifmann3
ja,aber
bei CNDO kommt der von dir gepriesene "Rebound" ja wohl nicht richtig in die gänge,da schau dir mal CRME heute an,die haben zwar keine Pipeline,aber dafür ein in europa vermarktungsfähiges Produkt,das auf FDA Zulassung wartet,soweit wird es CNDO nie bringen,obwohl beide Aktien gleich teuer sind !
MFG
Chali
MFG
Chali
05.04.15 22:06
#9
Biotech4u
ImmunoGen - toller Anstieg seit Jan. 2015
Es gibt ja nur zwei Biotechs, die sich intensiv mit Antikörper@Wirkstoffträger Konjugaten beschäftigen -
Seattle Genetics und ImmunoGen.
1) Seattle Genetics - hat ein Produkt auf dem Markt $286.8 Million Umsatz in 2014,davon $178.2 Million durch das Produkt ADCETRIS® (Brentuximab Vedotin) U.S. und Canada.
2015 mit "For the full year 2015 , the company expects revenues from sales of key product ADCETRIS of $200 million to $210 million and revenues from collaboration and license agreements of $60 million to $70 Million."
Bewertet wird Seattle Genetics mit 4.4 Milliarden USD an der Börse; was recht teuer ist wnn man sich den aktuellen Umsatz anschaut.
2) Jetzt zu ImmunoGen:
Hat ein Produkt auf dem Markt, was von Roche verkauft wird, ImmunoGen bekommt Royalies;
Pipelie von ca. 20 weiteren Kandidaten, davon vier eigenen.
Hat gerade seine Roayltier verkauft an Takeda für 200 M, d.h. die Kasse ist jetzt voll um die Eigenentwicklungen voranzutreiben.
Bewertung: 810 M USD - das ist ein guter Preis
Ich denke, ImmunoGen ist ganz vernünftig bewertet und hat viel Aufwärtspotential, wenn die Partner- & eigene Pipeline weiter entwickelt werden kann.
Seattle Genetics und ImmunoGen.
1) Seattle Genetics - hat ein Produkt auf dem Markt $286.8 Million Umsatz in 2014,davon $178.2 Million durch das Produkt ADCETRIS® (Brentuximab Vedotin) U.S. und Canada.
2015 mit "For the full year 2015 , the company expects revenues from sales of key product ADCETRIS of $200 million to $210 million and revenues from collaboration and license agreements of $60 million to $70 Million."
Bewertet wird Seattle Genetics mit 4.4 Milliarden USD an der Börse; was recht teuer ist wnn man sich den aktuellen Umsatz anschaut.
2) Jetzt zu ImmunoGen:
Hat ein Produkt auf dem Markt, was von Roche verkauft wird, ImmunoGen bekommt Royalies;
Pipelie von ca. 20 weiteren Kandidaten, davon vier eigenen.
Hat gerade seine Roayltier verkauft an Takeda für 200 M, d.h. die Kasse ist jetzt voll um die Eigenentwicklungen voranzutreiben.
Bewertung: 810 M USD - das ist ein guter Preis
Ich denke, ImmunoGen ist ganz vernünftig bewertet und hat viel Aufwärtspotential, wenn die Partner- & eigene Pipeline weiter entwickelt werden kann.
01.06.15 21:29
#10
VanZant
@all
Das muß sich mal jeder vor Augen führen: zum Zeitpunkt des data cut off und Vorstellung des Posters beim ASCO waren bisher 22 Pat. in der Phase 1 Studie eingeschlossen. Von diesen 22 Pat. haben 5 Pat. noch gar nicht mit der Therapie begonnen. 13 Pat. waren zum Zeitpunkt der Analyse in Behandlung. 17 von 22 Patientinnen wurden für die die Wirksamkeitsanalyse berücksichtigt. 9 von diesen 17 Pat. hatten ein objektives Ansprechen (8 partielle response, 1 komplette response). Also 53%. Damit liegt der Wert für eine 2nd-line Therapie unter dem Durchschnitt von 60% Ansprechrate in der Zweitlinienbehandlung bei Patientinnen mit Ovarialkarzinom. Für mich war das ein Grund heute, n i c h t einzusteigen. Aber der Hype um ImmunoGen und die Erwartungshaltung scheint den Kursanstieg von über USD 6,70 auf über USD 15,50 zu bestätigen. Glückwunsch an Alle....
19.02.16 23:04
#11
mariosapf
Einstieg
wie seht ihr Immunogen ? die Pipeline schaut ja gut aus , sind seit Jahresbeginn ziemlich runtergekommen im Kurs . Könnte hier ein Einsteigen wiedr Sinn machen ?
11.10.16 23:09
#16
Kap Hoorn
Steige ein ....
... sag ihr dass sie schön ist,
steige ein, ganz egal wohin es geht,
steige ein, wirst schon sehn was kommt,
steige ein, in DEN Zug oder nie ......
steige ein, ganz egal wohin es geht,
steige ein, wirst schon sehn was kommt,
steige ein, in DEN Zug oder nie ......
12.10.16 06:59
#17
martin30sm
Ich hab gestern nochmals aufgestockt,
jetzt einfach liegen lassen und abwarten. Auf Sicht von 2-3 Jahren sollte hier einiges möglich sein....
Das ist allerdings nur meine Meinung!
Wie seht ihr die Lage?
Das ist allerdings nur meine Meinung!
Wie seht ihr die Lage?
08.11.16 08:54
#19
galway
Die ersten Stücke
sind gestern im US Markt eingesammelt...........kurzfristig glaube ich nicht, aber langfristig ist es eine gute Möglichkeit. Die Hoffnung stirbt zuletzt :-)
12.01.17 22:03
#25
Balu4u
Die Pipeline sieht echt gut aus...
http://www.immunogen.com/pipeline