ImmunoGen kept at sector perform by RBC

RBC Capital Markets analyst Jason Kantor maintained ImmunoGen, Inc. at sector perform, speculative risk, after Sanofi-Aventis extended its research collaboration and funding of $10.4 million with the company for an additional year, through August 2008. The extended collaboration will maintain Immunogen's low cash burn and low financing risk for an additional 12 months and signals high productivity within the partnership, according to the analyst. ImmunoGen ended its June quarter with $75 million in cash, down from $90 million last year. Shares of the Cambridge, Mass.-based pharmaceutical company were up 14 cents, or 3.97%, at $3.67, on volume of 239,666 shares versus the three-month running average of 224,047 shares. (Nasdaq: IMGN)

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