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ImmunoGen (IMGN) Q4 Loss Wider, Revenues Rise Y/Y

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Waltham, MA-based ImmunoGen, Inc. IMGN is a development-stage biotechnology company, which focuses on developing targeted anticancer therapeutics using its antibody-drug conjugate technology (ADC). The company’s ADC technology is used in Roche's marketed product, Kadcyla, in four other development-stage candidates in its own pipeline, and in programs in development by its partners Amgen and Bayer among others.

With ImmunoGen not having any approved products in its portfolio, the company earns revenues from royalties, license and milestone payments, and research and development support fees paid by its partners.

ImmunoGen has moved to reporting on a calendar-year basis, effective Jan 1, 2017.

ImmunoGen’s track record has been mixed with the company beating expectations in two of the past four quarters, posting in line results in one and missing in the other. Overall, the company has posted an average positive surprise of 10.22%.


ImmunoGen, Inc. Price and EPS Surprise

ImmunoGen, Inc. Price and EPS Surprise | ImmunoGen, Inc. Quote

Currently, ImmunoGen has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings:ImmunoGen posted wider-than-expected loss in the fourth quarter of 2017. Our consensus called for a loss of 7 cents per share, and the company reported a loss of 9 cents per share. However, loss in the quarter is significant narrower than year ago figure of 39 cents.

Revenues:ImmunoGen posted revenues of $39.4 million compared with the Zacks Consensus Estimate of $41 million. The top line missed expectations for the quarter. However, revenue almost doubled from year-ago figure of $13.8 million.

Key Stats: R&D expenses increased 18.4% from the year-ago level to $39.8 million. Selling, general and administrative (SG&A) expenses were also up 5.9% to $9 million in the fourth quarter of 2017.

2018 Guidance: The company expects revenues in the range of $60-$65 million for 2018. The Zacks Consensus Estimate for the metric is pegged at $64.8 million for the year.

Operating expenses are expected in the range of $185-$190 million during the same period.

Moreover, the company expects cash and cash equivalents by Dec, 2018 end in the range of $115 million to $120 million.

Share Price Impact: Shares are up almost 3% in pre-market trading.

Check back later for our full write up on IMGN earnings report later!

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