Conserving cash, ImmunoGen to pursue narrower indication for bruised mirvetuximab

Immunogen is gutting its workforce and shelving at least two early stage programs to focus on the asset that put the biotech in this precarious position in the first place, antibody-drug conjugate mirvetuximab soravtansine.

ImmunoGen Inc. (NASDAQ:IMGN) said Thursday it would cut 220 of its 300 employees or 73% of its workforce to focus on a handful of candidates, including mirvetuximab, for which it will start another Phase III trial in a narrower, biomarker-defined population of ovarian cancer patients. ...