As evidenced by the volume of shares traded, [[IMGN]] still has not caught the fancy of investors or traders of substance. IMGN has moved up smartly from month ago lows of 4 dollars and is now trading in the $7 range. The volume remains around one-half million shares per day, with no major high volume days. Buyers seem content to add a few blocks of stock per day, as the stock price climbs 20-30 cents a day for a few days, then retreat for a day or so, then resume.

One would ask, "why is the stock moving?" Well, Genentech (DNA), which has collaborated with IMGN to produce future blockbuster drug TDM1 announced the beginning of a Pivotal phase 3 trial for second-line treatment of metastatic breast cancer ((MBC)). This news was highly anticipated, yet a welcome relief to shareholders who wondered aloud, "what's taking so long?" But the real news on the TDM1 front is not the pivotal phase 3 trial, but rather the phase 2 trial which just recently completed enrollment for third-line treatment of MBC. It's given after patients have already failed, second line treatment (Tykerb + Xeloda).

Now that the SABC (San Antonio Breast Cancer Conference) is over, and the new year is upon us, what have we learned. Genentech (DNA) just announced data for the most promising oncology product in its pipeline, Trastuzumab-Dm1, or TDM-1. TDM-1 is a next generation treatment for Metastatic Breast Cancer, MBC. Data was presented for 112 patients enrolled in this study, and that 107 of these patients were efficacy evaluable.

At the time of data cut-off for presentation, 8/19/1008, the 112 patients had received a median of 5.0 cycles of T-DM1. Two patients discontinued treatment due to adverse events considered to be possibly related to the study drug. Three of the 112 patients were dose-reduced from 3.6 mg/kg to 3.0 mg/kg for tolerability reasons, and these three patients were still receiving T-DM1 at the time of data cut-off.

With the overall stock market and the economy in shambles, is it time to start looking at beaten-down biotechs for large percentage moves. My choice for huge upside growth is ImmunoGen (IMGN). As many know, Genentech (DNA) recently announced that trastuzumab-dm1 will enter a pivotal phase 3 trial sometime during the first half of calendar 2009 for second line therapy for metastatic breast cancer MBC. ImmunoGen supplies the highly toxic maytansine which is conjugated to the herceptin to add to its killer potency.

But DNA already started a phase 2 trial for third line treatment begun in August 2008, which is expected to become a pivotal trial, according to DNA, should the data warrant. DNA also expects to release data at the San Antonio Breast Cancer Symposium from its most recent phase 2 trial, which began in July 2008. Preliminary data from the first 30 patients showed 1-CR and i believe 12 PRs, and 10 SD for a response rate well north of 50%. With many of the patients dosed, having already failed the TYKERB-XELODA regimen previously. Which ironically , wink, DNA will be comparing its pivotal trial to early next year.

As I anxiously await the abstracts for the ASCO conference to be released, I cannot help but wonder what Wall Street is waiting for. ImmunoGen (IMGN), the biotech company that Wall Street has forgotten, is, with its partner, Genentech (DNA), about to take the ASCO world by storm when data is released concerning Genentech's new breast cancer treatment, Trastuzumab-DM1.

A preview of the future of ImmunoGen (IMGN) began years ago when IMGN CEO Mitch Sayare had to beg the powers-that-be at Genentech (DNA) to try out ImmunoGen's ADC technology with HERCEPTIN, Genentech's flagship product for breast cancer. Sayare was loosely quoted as saying "I had to beg them to try it".

Genentech then proceeded not to return his calls for about six months. DNA finally called back and said "let's make a deal". Then Genentech called back again and said, "let's make another deal, a bigger deal."

GenVec (GNVC) is a smallcap biotech trying to become a bigcap. Its lead product, TNFerade, is currently in a pivotal Phase II/III study [PACT] in locally advanced pancreatic cancer; Phase II studies are in progress in rectal cancer and melanoma, and Phase I/II studies are in progress in head and neck cancer. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases including HIV, malaria, seasonal and pandemic flu and foot and mouth disease. During GenVec's most recent discussions with the FDA, the FDA agreed to change the primary endpoint of the PACT trial to overall survival from one year survival.