ImmunoGen Inc (NASDAQ: IMGN) shared full results from the SORAYA trial evaluating mirvetuximab in folate receptor alpha (FRα)-high platinum-resistant ovarian cancer patients, previously treated with Roche Holdings AG's (OTC: RHHBY) Avastin (bevacizumab).
The results were shared at the Society of Gynecologic Oncology (SGO) 2022 Annual Meeting.
SORAYA enrolled 106 patients with a median of three prior lines of therapy.
Related: ImmunoGen Shares Rally After Ovarian Cancer Trial Meets Primary Endpoint Goal.
Confirmed objective response rate (ORR) by the investigator was 32.4%, including five complete responses (CRs). ORR by BICR was 31.6%, including five CRs.
The median duration of response (DOR) was 6.9 months. The investigator's median progression-free survival (PFS) was 4.3 months and 5.5 months by BICR.
Read Next: Lilly Unites With ImmunoGen In ADC Deal Worth Up To .7B.
Analyst Reaction: RBC Capital downgraded ImmunoGen to Sector Perform from Outperform with a price target of $6, down from $9, after the full data from Mirvetuximab Soravtansine's Phase 3 SORAYA trial.
Analyst Kennen MacKay sees Mirvetuximab's median PFS of 4.3 months as adding "clinical meaningfulness" questions and suggesting substantial risk to the confirmatory MIRASOL trial and regulatory proceeding.
MacKay reduced the Mirvetuximab's probability of success estimates to 50% from 85%.
Price Action: IMGN shares are down 18.1% at $4.31 during the premarket session on the last check Monday.
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