Immunogen Inc. (IMGN ) is going to be a very essential player in the biotech sector in the near future. I predict this stock will double or triple by next year. IMGN is a biotech company with a market capital of $1.4 billion. They have developed anticancer therapeutic medications and engineered an effective strategy of administering anticancer agents called TAP (Targeted Antibody Payload). They use Targeted Antibody Payload technology to carry tumor-targeting antibodies with highly potent cell-killing agents through the blood stream to kill cancer cells with less toxicity to skin tissue. IMGN is currently working with various partnerships like Genentech to help them effectively administer their anticancer drugs by using its TAP technology.

IMGN on February 22, 2013 announced the U.S. FDA approval of Kadcyla. It's the first marketed drug using IMGN's TAP technology for the treatment of HER2-positive metastatic breast cancer. Kadcyla is developed by Genentech, which is a member of Roche Group. Less than 1 month after receiving US FDA approval, Roche Group reported sales of Kadcyla for approximately $19.5 million during its quarter ending in March 31, 2013. With this approval, it's a first big step success for IMGN. IMGN received $10.5 million milestone payment from Roche Group. IMGN will also earn royalties on the commercial sales of Kadcyla. Kadcyla is also receiving ongoing review for its approval in Europe and Japan. Roche Group expects to obtain formal permission in Europe by the end of 2013. They are also in the process of evaluating Kadcyla to treat other forms of cancer such as stomach cancer (gastric cancer). They expect to submit for approval for its use in 2015.

In addition to Kadcyla, IMGN has 9 TAP compounds that are in the clinical trial phase. Three of which are wholly owned by Immunogen. The remaining 6 TAP compounds are in the clinical trial phase with other partnerships. By the end of 2013, IMGN is expecting to receive clinical-stage testing data reports for the 6 TAP compounds from their partnerships. When Kadcyla received approval, that was a big milestone for IMGN. Now, if they can obtain FDA approval for some of their other drugs and continue licensing out their TAP technology, then IMGN will be on its way to become a very successful biotechnology company. I predict that will happen soon. If TAP technology works with Kadcyla then the other drugs using the same TAP technology are likely to be successful as well.

In earnings, IMGN on April 26, 2013 reported a positive 3rd quarter earnings for 2013, and surprisingly beat the analyst's estimate by $.13. This gave me even more reason to like IMGN.

IMGN reported a net loss of $1.4 million, or $-.02 per diluted share, and that beats the analyst's estimate by $-15, as compared to a net loss of $18.7 million, or $-.24 per diluted share for the same quarter of the last year 3Q FY2012.

Revenues for 3Q FY2013 were $25 million, compared to $3.3 million for 3Q FY2012.

Operating expenses for 3Q FY2013 were $26.3 million, compared to $22 million in the same quarter last year.

IMGN had approximately $206.1 million in cash equivalents as of March 31, 2013 and no debt. Have cash and no debt, as an investor I do love to hear that.

Considering their innovation of TAP technology and the method they're pursuing to cure cancer, IMGN will be an important biotechnology company to win the war against cancer, the yet incurable disease. With Kadcyla already approved and their continued partnerships with other biotech companies, IMGN is beginning to see great value in their own compounds. I think IMGN will turn out to be a very profitable company and we're going to hear a lot from them. I'm very bullish on IMGN as a short term and long term investment. I think IMGN will be the next CELG and GILD in biotechnology. Compared to CELG and GILD with their market capital of over $50 billion each, IMGN is small and has plenty of room to grow. Right now, I'm positive that IMGN will be a $30 stock by the end of this year.