Tag - IMGN

Huron Consulting Group Inc. (Nasdaq:HURN), Savient Pharmaceuticals Inc. (Nasdaq:SVNT) and Synaptics Inc. (Nasdaq:SYNA) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Sequenom Inc. (Nasdaq:SQNM), Verigy Ltd. (Nasdaq:VRGY), James River Coal Co. (Nasdaq:JRCC), Spectrum Pharmaceuticals Inc. (Nasdaq:SPPI), ImmunoGen Inc. (Nasdaq:IMGN) and Century Aluminum Co. (Nasdaq:CENX).

"How does one go about investing in the antibody space?" asks biotech specialist John McCamant. In The Medical Technology Stock Letter, he eyes Immunogen (NASDAQ: IMGN).

"The company will continue to benefit from Genetech's extensive antibody experience as they continue to run all development for Immunogen's T-DM1.

"In addition, the armed antibody companies can offer significant patent extensions for naked antibodies after they lose patent protection. This additional patent protection is a significant long-term value, especially given the very strong current and projected sales for naked antibodies.

"Companies will spend lots of money to protect/extend patents on blockbuster drugs. Thus, we believe that a premium buy-out from Roche or one of their competitors could happen in the next few years as antibodes become even more pervasive in the drug sector.

"Given the recent pull back in IMGN’s share price from the low $8 level to $7 after the stock's recent secondary offering -- the company sold 5,000,000 shares of its common stock at $7 per share raising $33 million -- we are raising our buy limit to $8 to reflect our growing confidence in the company and it’s significant long-term growth potential.

"While dilution is rarely positive, the fact that the company raised cash after the stock has almost doubled in price over the last year makes it much easier to digest.  Additionally, IMGN has not raised cash in a very long time, making it that much more tolerable as they run a tight fiscal ship.

"With the offering out of the way, we expect more positive news flow either in the form of additional partnerships or more data on T-DM1 later in the year. We believe that T-DM1 is a potential blockbuster drug candidate that will provide the company with a very good revenue stream.

"Any other progress from the company’s pipeline would just be icing on the cake. In addition, any progress in the pipeline would probably trigger a buyer to try and buy them at a premium.

"With cancer antibodies expected to be the largest class of drugs, armed antibodies represent both better drugs and excellent patent extension vehicles. Overall, we believe that Immunogen is an undervalued antibody play. We rate the stock a buy under $8 with a target of $17."
 

Novatel Wireless Inc (Nasdaq:NVTL), Accuray Inc (Nasdaq:ARAY) and Hickory Tech Corp (Nasdaq:HTCO) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.     

Also included among the results: Investors Title Co (Nasdaq:ITIC), StellarOne Corp (Nasdaq:STEL), ImmunoGen Inc (Nasdaq:IMGN), Palm Harbor Homes Inc (Nasdaq:PHHM), American Woodmark Corp (Nasdaq:AMWD) and Toreador Resources Corp (Nasdaq:TRGL).    

Here are the biggest percentage losers among small caps:  

ImmunoGen, Inc. (Nasdaq: IMGN) CEO Mitchel Sayare told analysts that the company will publicly present Phase I and Phase II data from clinical trials in the near future. He also told analysts that the company’s business plan consists of making new medical products with money garnished from licensing the company’s proprietary anti-cancer technology.

Sayare made the comments Thursday afternoon at the UBS 2007 Global Life Sciences Conference held in Cambridge, Mass.

“There are a couple subtleties here. A number of products are in the clinic that we don’t own, but the data from which helps cast a favorable light on ImmunoGen,” Sayare said.

Going forward, the chief executive said the Cambridge, Mass.-based firm’s plan is to develop products, bring them to market and collect royalties and milestone payments from third parties. Milestone payments can reach $40 million per product, he said. The revenue generated by third-party agreements pays for a lot of the company’s expenses, he said.

During trading on Thursday, shares of IMGN were down $0.01, or 0.21%, at $4.68. Over the last 52 weeks, shares have ranged from $3.43 to $6.24.

San Diego-based Accredited Home Lenders Holding Co. (Nasdaq: LEND) announced it will be acquired by Lone Star Funds for $15.10 per share, or about $400 million, in cash. The mortgage banking company said the deal is expected to be closed in the third quarter ending Sept. 30.

Telik, Inc. (Nasdaq: TELK) announced results from the third phase in a study of the biopharmaceutical company’s lung cancer drug Telcyta Assist-2. The Palo Alto, Calif.-based business said the trial missed the primary endpoint.

Biopharmaceutical company Immunomedics, Inc. (Nasdaq: IMMU) announced that treatment with the Morris Plains, N.J.-based business’ cancer drug Epratuzumab along with chemotherapy is well tolerated and feasible in children with a type of leukemia.

Cambridge, Mass.-based Ariad Pharmaceuticals, Inc. (Nasdaq: ARIA) reported patient enrollment for the third trial phase of the company’s AP23573 cancer drug will be delayed to the third quarter ending Sept. 30.

The following are the most actively traded companies in Monday pre-market trading among those with market capitalizations under $500 million: