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ImmunoGen CEO on New Breast Cancer Drug

A new breast cancer drug is expected to head to the FDA for approval by the middle of next year, ImmunoGen CEO Daniel Junius told Cramer Monday.

The biotech company’s stock closed up almost seven percent Monday after news that the phase two trial of T-DM1 showed that it worked better than the standard treatment. The drug, which combines ImmunoGen’s DM1 cancer cell-killing agent with Roche’s antibody trastuzumab, showed a 41 percent reduction in the risk of the cancer getting worse with half as many severe side effects.

Now, phase three studies are underway, Junius told the “Mad Money” host. One is looking at first-line therapy, the initial treatment of the disease, and the other is focused on second-line therapy. He expects the second-line study to go to the FDA for approval in the U.S. and Europe by “maybe the middle of next year.” The first-line patients may see the drug, if it is approved, in 2014.

To see the full interview, watch the video.

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