AP NEWS
Click to copy
Click to copy

ImmunoGen: 2Q Earnings Snapshot

August 2, 2019

WALTHAM, Mass. (AP) _ ImmunoGen Inc. (IMGN) on Friday reported a loss of $43.4 million in its second quarter.

On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 29 cents.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.

The drug developer posted revenue of $15.5 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $10.3 million.

ImmunoGen expects full-year revenue in the range of $40 million to $45 million.

The company’s shares closed at $2.29. A year ago, they were trading at $9.15.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMGN at https://www.zacks.com/ap/IMGN

All contents © copyright 2019 The Associated Press. All rights reserved.