NEW YORK, NY / ACCESSWIRE / April 17, 2017 / The Biotech Industry has continued to provide solid gains for investors in 2017, despite all the negative attention the industry has received due to drug pricing concerns. The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted gains of 9.5 percent and 15.68 percent, respectively, in 2017. In comparison, the Dow Jones Industrial Average and the S&P 500 Index have posted gains of 3.49 percent and 4.03 percent year-to-date.

RDI Initiates Coverage on:

Array Biopharma Inc.
https://ub.rdinvesting.com/news/?ticker=ARRY

ImmunoGen, Inc.
https://ub.rdinvesting.com/news/?ticker=IMGN

Array Biopharma's shares gained 1.20 percent to close at $8.46 a share on Thursday. The stock traded between $8.32 and $8.58 on volume of 2.66 million shares traded. The company is focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Shares of the company fell sharply last month after Array Biopharma announced the withdrawal of its new drug application (NDA) for binimetinib monotherapy for the treatment of NRAS-mutant melanoma. Array Biopharma still plans to go ahead with the Phase 3 COLUMBUS trial NDA of binimetinib, in combination with encorafenib, for the treatment of BRAF-mutant melanoma.

Access RDI's Array Biopharma Research Report at:
https://ub.rdinvesting.com/news/?ticker=ARRY

ImmunoGen's shares jumped 9.46 percent to close at $3.24 a share on Thursday. The stock traded between $2.92 and $3.36 on volume of 5.06 million shares traded. The company's lead candidate, Mirvetuximab soravtansine, is currently in Phase 3 testing (the FORWARD I trial) as a single agent for the treatment of platinum-resistant ovarian cancer. Additionally, initial data from the ImmunoGen's Phase 1b/2 FORWARD II trial evaluating mirvetuximab soravtansine in combination with Avastin, carboplatin, Doxil or Keytruda, is expected to be released during the second quarter. Shares of ImmunoGen have gained approximately 58.82 percent year-to-date.

Access RDI's ImmunoGen Research Report at:
https://ub.rdinvesting.com/news/?ticker=IMGN

Our Actionable Research on Array Biopharma Inc. (NASDAQ: ARRY) and ImmunoGen, Inc. (NASDAQ: IMGN) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com