Immunogen: Q2 Earnings Insights

Shares of Immunogen IMGN moved higher by 3.0% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 51.72% over the past year to ($0.14), which beat the estimate of ($0.17).

Revenue of $15,025,000 declined by 3.33% year over year, which beat the estimate of $14,590,000.

Guidance

The upcoming fiscal year's revenue expected to be between $60,000,000 and $65,000,000.

Conference Call Details

Date: Jul 31, 2020

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/dcc4qe32

Technicals

Company's 52-week high was at $7.07

52-week low: $1.95

Price action over last quarter: Up 3.69%

Company Overview

Immunogen Inc is a clinical-stage biotechnology company from the United States. Its focus is antibody-drug conjugate, or ADC, technology, which uses an antibody that fixes on a target (its antigen) found on tumor cells to deliver a specific cancer-killing agent. The technology is used in Kadcyla (ado-trastuzumab emtansine)--a registered trademark of Genentech, a member of the Roche Group--to kill solid tumors. Companies such as Amgen, Genentech/Roche, Lilly, Novartis, Sanofi, and Takeda have licensed limited rights to use the ADC technology in their therapies.