Immunogen (IMGN) Tops Q2 EPS by 7c, Offers Guidance

Immunogen (NASDAQ: IMGN) reported Q2 EPS of ($0.10), $0.07 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $39.02 million versus the consensus estimate of $30.6 million.

Financial Guidance

ImmunoGen has updated its guidance for 2017. Expected revenues are now projected to be between $115 million and $120 million, compared with previous guidance of between $70 million and $75 million; and cash and cash equivalents at December 31, 2017 are expected to be between $90 million and $95 million, compared to previous guidance of $35 million to $40 million. These changes are a result of the Debiopharm and Sanofi agreements executed in the second quarter of 2017. Operating expenses remain unchanged and are expected to be between $175 million and $180 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 half of 2018.

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

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