Why ImmunoGen Stock Jumped Today

Shares of ImmunoGen (NASDAQ: IMGN) were jumping 13.2% higher as of 3:11 p.m. EDT on Wednesday. The company didn't report any news. Instead, ImmunoGen's gains appeared to reflect continued interest from investors following the biotech's announcement last week of positive initial data from the Forward II phase 1/2b study evaluating mirvetuximab soravtansine in combination with Avastin as a treatment for ovarian cancer.

ImmunoGen stock is up close to 30% since its May 13 update for the Forward II study. The initial results showed that the combination of mirvetuximab and Avastin demonstrated promising anti-tumor activity as well as a favorable safety profile.

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