ImmunoGen: 2Q Earnings Snapshot
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.