Immunogen (IMGN) Tops Q1 EPS by 14c, Beats on Revenue; Positive FY Revenue Guidance

Immunogen (NASDAQ: IMGN) reported Q1 EPS of ($0.20), $0.14 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $28.5 million versus the consensus estimate of $16.16 million.

GUIDANCE:

Immunogen sees Q2 2017 revenue of $70-75 million, versus the consensus of $66.15 million.

Financial Guidance

ImmunoGen’s financial guidance for 2017 remains unchanged from that issued in February 2017. ImmunoGen expects:

• Revenues between $70 million and $75 million, which includes $28 million of expected upfront and milestone fees from partners;
• Operating expenses between $175 million and $180 million; and
• Cash and cash equivalents at December 31, 2017 between $35 million and $40 million.

ImmunoGen expects that its current cash plus expected cash revenues from partners and collaborators will enable the Company to fund operations into the second quarter of 2018.

For earnings history and earnings-related data on Immunogen (IMGN) click here.

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