Immunogen Earnings: Here’s Why Investors are Buying Shares Now
Immunogen Inc. (NASDAQ:IMGN) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.86%.
Immunogen Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.24 in the year-earlier quarter.
Revenue: Rose 669.23% to $25 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Immunogen Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.15. It beat the average revenue estimate of $11.94 million.
Quoting Management: “Based on published clinical findings and patient anecdotes, we believe Kadcyla will make a notable difference for many patients and become a highly successful product,” commented Daniel Junius, President and CEO. “The first Kadcyla sales information reported by Roche in its quarterly update support that the product launch is off to a good start. As noted previously, we will be reporting our royalty revenue from Kadcyla one quarter in arrears and thus it will begin to be reported in our next quarter.”
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