ImmunoGen, Inc. (IMGN)

The global antibody drug conjugates market size was valued at USD 11.84 billion in 2024 and is projected to reach from USD 12.89 billion in 2025 to USD 25.38 billion by 2033, growing at a CAGR of 8.84% during the forecast period (2025-2033). The global antibody drug conjugates market size was valued at USD 11.84 billion in 2024 and is projected to reach from USD 12.89 billion in 2025 to USD 25.38 billion by 2033, growing at a CAGR of 8.84% during the forecast period (2025-2033).

Drug maker AbbVie (ABBV) is lowering its current quarter guidance because of costs related to its acquisition of ImmunoGen.

AbbVie Inc.'s stock ABBV, -0.41% fell 0.5% early Monday, after the drug company lowered its first-quarter guidance to reflect the dilutive impact of its closure of the acquisition of ImmunoGen. The company said it now expects first-quarter per-share earnings to range from $2.26 to $2.30, down from prior guidance of $2.30 to $2.34, including a 4 cent per share dilutive impact from the Immunogen deal.

Adds flagship antibody-drug conjugate (ADC) ELAHERE® (mirvetuximab soravtansine-gynx) for folate receptor-alpha (FRα) positive platinum-resistant ovarian cancer (PROC) to AbbVie's portfolio ImmunoGen's pipeline complements AbbVie's existing oncology pipeline with potential to be transformative across multiple solid tumors and hematologic malignancies ImmunoGen's late-stage development programs for ELAHERE provide opportunity to expand into earlier lines of therapy and additional patient populations AbbVie reaffirms previously issued 2024 full-year adjusted diluted EPS guidance range of $11.05-$11.25 which now includes a $0.42 per share dilutive impact related to the ImmunoGen acquisition and the pending Cerevel Therapeutics acquisition AbbVie updates previously issued 2024 first-quarter adjusted diluted EPS guidance range from $2.30-$2.34 to $2.26-$2.30 which now includes a $0.04 per share dilutive impact related to the ImmunoGen acquisition NORTH CHICAGO, Ill. , Feb. 12, 2024 /PRNewswire/ -- AbbVie (NYSE: ABBV) announced today that it has completed its acquisition of ImmunoGen (NASDAQ: IMGN).

Here is how ImmunoGen (IMGN) and Achilles Therapeutics PLC Sponsored ADR (ACHL) have performed compared to their sector so far this year.

ImmunoGen (IMGN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

As 2023 wrapped up, Russell 2000 stocks, mirroring the dynamics of small-to-mid-cap companies, showed resilience, outperforming their initial stance. The iShares Russell 2000 ETF (NYSEARCA: IWM ), a key barometer for these stocks, boasts over $60 billion in assets and a robust daily trading volume surpassing 40 million, setting an impressive stage for these agile market players.

WALTHAM, Mass.--(BUSINESS WIRE)--ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

ImmunoGen (IMGN) has seen solid earnings estimate revision activity over the past two month, and belongs to a strong industry as well.

CNBC's Jim Cramer pointed out the numerous mergers and acquisitions across the biopharma industry.

ImmunoGen (IMGN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

IMGN and GTLB made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on January 4, 2024.

IMGN, GTLB, FNWD, BL and TMHC have been added to the Zacks Rank #1 (Strong Buy) List on January 4, 2024.

WALTHAM, Mass.--(BUSINESS WIRE)--ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

AbbVie needs to diversify its drug portfolio because of the loss of exclusive rights to Humira. The recent acquisition of ImmunoGen fills several needs and comes at an excellent time.

Innovation in the medical world is undoubtedly a fundamental pillar in the development of humanity. There are great companies within the biotech sector doing wonderful work, research, and developments, not only to attack important diseases but also to prevent them.