Recap: Immunogen Q2 Earnings

Shares of Immunogen IMGN were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share were down 7.14% year over year to ($0.15), which beat the estimate of ($0.18).

Revenue of $16,948,000 higher by 12.80% from the same period last year, which missed the estimate of $18,920,000.

Outlook

The upcoming fiscal year's revenue expected to be between $65,000,000 and $75,000,000.

Conference Call Details

Date: Jul 30, 2021

Time: 08:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/vmnz9uo5

Price Action

Company's 52-week high was at $10.88

52-week low: $3.38

Price action over last quarter: down 17.76%

Company Description

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.