Immunogen halts trial of lung cancer drug; shares drop

(Reuters) - Immunogen Inc said it would discontinue a mid-stage trial of its experimental small-cell lung cancer drug following the death of a patient, sending its shares down 17 percent. The trial was testing the benefits of the drug, code-named IMGN901, in combination with chemotherapy drugs carboplatin or etoposide, compared with chemotherapy alone. "This news is a negative for the stock and a setback for the company, since IMGN901 is one of four clinical programs that are wholly owned, and was the most advanced clinically," Cowen and Co analyst Simos Simeonidis wrote in a client note.



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