Immunogen to raise $84M in offering; Cell Therapeutics gets date for Pixantrone review;

@FierceBiotech: ASCO abstracts flag new data on the hottest cancer drugs. Report | Follow @FierceBiotech

@JohnCFierce: Will the FDA really make us wait until Monday for telaprevir OK? | Follow @JohnCFierce

> ImmunoGen has high hopes for its next offering, pricing 7 million shares at $12 each. The company expects to rake in $84 million with the stock offering. Story

> The FDA will review Cell Therapeutics' re-submission of the NDA for Pixantrone in early June. CTI received a response from the Office of New Drugs on May 3, allowing for the re-submission after the PIX 301 trial. Release

> South San Francisco-based Onyx Pharmaceuticals released Phase IIB data for carfilzomib, showing the drug had a clinical benefit rate of 37 percent with an average response duration of 7.8 months. The median overall survival rate was 15.6 months for multiple myeloma patients. Onyx release

> Auxilium has received a $7.5 million milestone payment from Pfizer for its first sale of Xiapex, a Dupuytren's contracture treatment. Auxilium release

Pharma News

@FiercePharma: Cancer drug spending to leap at least 34%. Article | Follow @FiercePharma

> Pharma bosses love iPads, but some reps are skeptical. Story

> Senate mulls bill to keep pharma documents unsealed. Report

> FDA panel favors Trilipix combo, but asks for trial. Item

> EMA nod for key new drugs from GSK, Merck, BMS. Report

And Finally... An eight-year-old project to uncover the mysteries of the human genome got a big shot in the arm this week. An NIH advisory council approved some $153 million in new funding for four programs to expand the Encyclopedia of DNA Elements (ENCODE). These programs might help us get a better handle on what the tsunami of genomic data generated from sequencers really means. Story

*Editor's Note: A headline and sentence in this report incorrectly stated that ImmunoGen's financing announced today was an IPO. It was not an IPO, and ImmunoGen's stock has been public for a long time. This report has been corrected. We regret the error.

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