Piper Jaffray analyst Joseph Catanzaro notes that ImmunoGen presented updates from the Phase I trials of both IMGN632 and IMGN779in r/r AML and BPDCN at ASH this weekend. While the aanalyst acknowledges that some may be disappointed with the slight dip in CR/CRi rate for '632 and the lack of dose response, he finds the clear anti-leukemic activity at the lower, more tolerable doses notable and sees this as a positive first full look for this program. '779 still looks to be struggling to find an active dose, Catanzarro contends, adding that he is unsure whether higher doses will elicit enough of an increase in activity without increased toxicity that would warrant further monotherapy development. He reiterates an Overweight rating and $14 price target on the shares.