ImmunoGen (IMGN) Releases Earnings Results, Misses Expectations By $-0.12 EPS

ImmunoGen (IMGN) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $-0.51 earnings per share for the quarter, missing the analyst consensus estimate by $-0.12. Analysts had a consensus of $-0.39. The company posted revenue of $7.41 million in the period, compared to analysts expectations of $16.75 million. The company’s revenue was down -41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.35 EPS.

ImmunoGen closed down -0.08 points or -2.70% at $2.88 with 11,74,462 shares getting traded on Tusday. Post opening the session at $2.95, the shares hit an intraday low of $2.81 and an intraday high of $3 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Feb 1, 2016, John Lambert (Executive Vice President) sold 3,889 shares at $8.22 per share price. According to the SEC, on Jan 11, 2016, Richard J. Gregory (Executive VP & CSO) sold 2,369 shares at $11.10 per share price. On Jan 4, 2016, Daniel M Junius (Chief Executive Officer) sold 5,416 shares at $13.17 per share price, according to the Form-4 filing with the securities and exchange commission.

ImmunoGen Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Company’s clinical and preclinical product candidates are antibody-drug conjugates (ADCs) which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853) coltuximab ravtansine IMGN529 and IMGN779. The Company’s partners are Amgen Inc. Bayer HealthCare (a subgroup of Bayer AG) Biotest AG Eli Lilly and Company (Lilly) Novartis Institutes for BioMedical Research Inc. (Novartis) the Roche Group Sanofi and Takeda. The Company’s collaborative partner compounds include Kadcyla Indatuximab ravtansine Isatuximab Anetumumab ravtansine AMG 595 AMG 172 SAR566658 SAR408701 LOP628 and PCA062. All of the Company’s compounds are ADCs with the exception of isatuximab which is a therapeutic antibody.


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