Quick Win by the Algorithm: IMGN Press Release Fuels 22.06% Returns in 3 Days
Quick Win by the Algorithm
On January 1, 2017, the I Know First algorithm had predicted a bullish forecast for ImmunoGen, Inc. (IMGN). IMGN had a signal of 332.27 and a predictability of 0.14. In accordance with the algorithm, the company reported long-position capital gains of 22.06% experiencing a quick win by the algorithm.
ImmunoGen, Inc., a biotechnology company, develops targeted anticancer therapeutics. The company develops its products using its antibody-drug conjugate (ADC) technology. The companys product candidates include Mirvetuximab soravtansine, an ADC targeting folate-receptor alpha for the treatment of platinum-resistant ovarian cancer; IMGN529 and coltuximab ravtansine that are in Phase II clinical trials for the treatment of non-Hodgkin lymphoma; IMGN779 that is in Phase I clinical trials for the treatment of acute myeloid leukemia (AML); and IMGN632, a preclinical CD123-targeting ADC for the treatment of AML. ImmunoGen, Inc. has collaborations with Amgen Inc.; Bayer HealthCare; Biotest AG; Eli Lilly and Company; Novartis Institutes for BioMedical Research, Inc.; Roche; Sanofi; Merck; and Takeda, as well as research agreement with CytomX Therapeutics, Inc. The company was founded in 1981 and is headquartered in Waltham, Massachusetts.
On Wednesday December 28, 2016, IMGN had a press release pertaining to “improved progression-free survival (PFS) in folate receptor alpha positive platinum-resistant ovarian cancer patients” Retrieved from Motley Fool. The success of the companies antibody-drug conjugates (ADCs) in the treatment of cancer has helped the share price for the company increase significantly. To read about how the treatment works, click here.
This bullish forecast on IMGN was sent to current I Know First subscribers on December 30th, 2016.
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