ImmunoGen, Oxford BioTherapeutics To Collaborate To Develop Novel Antibody-Drug Conjugates

AbbVie To Acquire ImmunoGen For $31.26/shre In All-cash Deal Of About $10.1 Bln

AbbVie Inc. (ABBV) and ImmunoGen, Inc. (IMGN) announced Thursday AbbVie will acquire ImmunoGen, and its flagship cancer therapy ELAHERE (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC).

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ImmunoGen Inks Multi-Target License Deal With ImmunoBiochem For Next-Gen Antibody-Drug Conjugates

ImmunoGen, Inc. (IMGN) announced Monday a multi-target license and option agreement to research novel, first-in-class ADCs with privately-held biopharmaceutical company ImmunoBiochem Corp.

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U.S. Job Openings Unexpectedly Increase In April

Job openings in the U.S. unexpectedly increased in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said job openings climbed to 7.391 million in April from an upwardly revised 7.200 million in March.

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U.S. Factory Orders Pull Back Sharply In April

A report released by the Commerce Department on Tuesday showed a substantial pullback by new orders for U.S. manufactured goods in the month of April. The Commerce Department said factory orders plunged by 3.7 percent in April after surging by a downwardly revised 3.4 percent in March.

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Eurozone Inflation Falls Below 2% Target To Boost ECB Rate Cut Hopes

Euro area inflation fell below the 2 percent target in May largely due to the slowdown in services inflation and reinforced expectations for another interest rate reduction from the European Central Bank later this week. Inflation softened more-than-expected to 1.9 percent in May from 2.2 percent in April, figures from Eurostat revealed on Tuesday. The rate was expected to slow to 2.0 percent.

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Swiss Franc Falls Against Majors

The Swiss franc weakened against other major currencies in the New York session on Tuesday.

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Dollar Index Rebounds Amidst Legal Whiplash For Trade Tariffs

The Dollar Index rebounded during the week ended May 30 amidst conflicting court rulings that debated the powers available to President Trump to enforce the reciprocal tariffs on trade partners.

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FTSE 100 Up Marginally In Cautious Trade

After edging up a bit in early trades, the U.K. stock market drifted lower Tuesday morning, but edged up on selective buying and was up marginally nearly half an hour past noon. A downward revision in UK's growth forecast by OECD, and uncertainty surrounding the U.S. Government's tariff moves weigh on sentiment. The OECD has also downgraded its global growth forecast.

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EURUSD	1.13778	GBPUSD	1.35225	AUDUSD	0.64636
USDJPY	143.953	USDCAD	1.3723	USDCHF	0.82386

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ImmunoGen, Oxford BioTherapeutics To Collaborate To Develop Novel Antibody-Drug Conjugates