Drugmaker stocks were on the move Monday as the American Society of Clinical Oncology (ASCO) meeting continued to produce key data on cancer trials. Among the top movers were: ImmunoGen (IMGN) stock soared as much as 71% to a 13-month high above 15 based on its Saturday report on its phase-one trial of mirvetuximab soravtansine, or IMGN853, in ovarian cancer. The objective response rate — the percentage of tumors that shrank — was 53%, which
Big pharmas Merck (MRK) and Bristol-Myers Squibb (BMY) released new data on their hot new immunotherapy cancer drugs Friday afternoon, but the results sent their stocks in opposite directions. Bristol’s stock dropped 6.6% after the release of two late-breaker abstracts on studies of its drug Opdivo, a PD-1 inhibitor, for the American Society of Clinical Oncology (ASCO) meeting that opened Friday and will continue through the weekend. The study
Bristol-Myers Squibb (BMY) reported stellar results for a clinical trial in advanced melanoma Monday, but its stock was down more than 1% in afternoon trading on the stock market today as Wall Street digested a weekend filled with cancer news. At the annual American Society of Clinical Oncology (ASCO) meeting in Chicago, Bristol reported that the two-year survival rate of patients taking immuno-oncology (I-O) drugs nivolumab with Yervoy was 88%.