Entering text into the input field will update the search result below

ImmunoGen shares +3% on Q3 beat, top-line up 37%

Nov. 06, 2020 7:36 AM ETImmunoGen, Inc. (IMGN) StockBy: SA News Team
  • ImmunoGen (NASDAQ:IMGN) Q3 results:
  • Revenues: $18.2M (+36.8%); non-cash royalty revenue: $18.1M (+37.1%).
  • Net loss: ($22.4M) (-2.8%); loss/share: ($0.13) (+13.3%).
  • 2020 guidance: Revenues: $60M - 65M (unch) (consensus: $67.37M); operating expenses: $160M - 165M from $165M - 170M; cash and equivalents at year-end: $245M - 250M.
  • The company received FDA Breakthrough Therapy Designation for IMGN632 in relapsed or refractory BPDCN.
  • First patient enrolled in Phase 1 trial evaluating ADAM9-Targeting ADC, IMGC936, in solid tumors.
  • “At ESMO in September, we shared final data from our FORWARD II triplet cohort, which demonstrated the encouraging efficacy and favorable tolerability of mirvetuximab in combination with carboplatin and Avastin® in FRα-positive recurrent, platinum-sensitive ovarian cancer," said Mark Enyedy, President and CEO.
  • In Q3, IMGN collaborated with Huadong Medicine to develop and commercialize mirvetuximab soravtansine in Greater China. The company will receive an upfront payment of $40M, with the potential milestone payments of up to $265M as well as low double-digit to high teen royalties.
  • Shares are up 3% premarket.
  • Previously: ImmunoGen EPS beats by $0.06, beats on revenue (Nov. 6)

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
IMGN--
ImmunoGen, Inc.