Immunex blows through the $100 barrier

Immunex (IMNX) surged last week as Chairman and CEO Edward Fritzky told the BancBoston Robertson Stephens conference in New York that the company plans to submit a supplemental NDA with the FDA in the second quarter of 1999 for Novantrone mitoxantrone for multiple sclerosis.

The announcement fit the company's "products with a pipeline" theme, in which IMNX plans to turn one approved product into several different opportunities. Novantrone already is approved as an initial chemotherapy for use with corticosteroids to treat pain associated with advanced hormone-refractory prostate cancer, and as initial therapy for acute nonlymphocytic leukemia in combination with other drugs...