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Oncology-focused biotech ImmunoGen, Inc. (NASDAQ:IMGN) shed ~12% on Tuesday after the corporate stated it will launch the newly accepted ovarian most cancers drug Elahere “in a matter of days” at an inventory worth of $6,220 per vial.
“Most sufferers obtain 3 to 4 vials per cycle, which leads to a worth of someplace between $18,500 and just below $25,000 per cycle,” Chief Govt Mark Enyedy stated throughout a convention name on Tuesday.
On Monday, ImmunoGen (IMGN) introduced the FDA approval of its antibody-drug conjugate Elahere for sure grownup sufferers with platinum-resistant ovarian most cancers, sending the corporate shares sharply increased within the post-market buying and selling.
Nonetheless, BMO Capital Markets analyst Etzer Darout attributed immediately’s selloff to doubts over the market alternative for Elahere, which can be a part of a gaggle of bestselling antibody-drug conjugates comparable to AstraZeneca’s (AZN) Enhertu and Gilead’s (GILD) Trodelvy.
“Whenever you have a look at different marketed antibody drug conjugates, Elahere is (priced) comparatively in line by way of the value per thirty days of $18,500 to $25,000 vary,” Darout famous.
Trodelvy, which has an inventory worth of $2,188 per vial within the U.S., added $380M in income for Gilead (GILD) in 2021, in response to the corporate’s newest 10-Ok submitting.
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