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ImClone Systems Incorporated (ImClone) is a “biopharmaceutical company that develops a portfolio of targeted biologic treatments designed to address the medical needs of patients with cancer.” ImClone Co. was founded in 1984. In 1986, the company opened its laboratories at 180 Varick Street in New York City. The Company focused on seclusion-based analysis and transmittable disease serums. This focus brought about two “FDA approved diagnostics” and many vaccine research programs. As time went on, the Companys focus moved from diagnostics and transmittable disease to the area of oncology.
I decided to invest in this company because it is a company that many people are not familiar with. The research that this company performs may one day find a cure for cancer and many other horrible diseases that have sprung up in todays world.
ImClone has produced a product called ERBITUX which is an antibody approved by the United States Food and Drug Administration. Their new product is used with radiation therapy for neck and head cancer. In addition to this drug, “three investigational monoclonal antibodies are being evaluated in various stages of clinical development.”
Imclone is a successful company that has achieved many great things. It is also a company affiliated with medicine, which makes it important to people and everyday life. Patients who suffer from cancer, especially those with neck or head cancer, will be in need of Imclones drug. Just by looking at its stock information, one can infer that Imclone is a pretty steady stock. Also, considering the fact that ERBITUX has had positive reviews, it is very likely that Imclone can count on its new drug to create positive feedback for the company, which it has done.
Recently, experts have said that shares of Imclone have risen “after a Rodman & Renshaw analyst reiterated a “Market Outperform” rating on the biotechnology company,