Immunogen’s (NASDAQ:IMGN) Expectations Too High, as is Valuation

Immunogen’s (NASDAQ:IMGN) valuation is too high, according to Needham, which is the result of expectations concerning late-stage T-DM1. Needham says, “We believe the current valuation is built on high expectations for the late-stage T-DM1 along with the brand-name Roche (OTC:RHHBY) (N/R) partnership, but the value creation for ImmunoGen is modest, due to the mid-single digit royalty. Despite the

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