Categories Earnings, Health Care

ImmunoGen Inc (IMGN): Q4 2019 Earnings Snapshot

Earnings Update by AlphaStreet

— ImmunoGen Inc. (NASDAQ: IMGN) reported its fourth-quarter 2019 earnings of $0.03 per share vs $0.05 per share loss expected.  

— Revenue jumped threefold to $44.8 million, versus $29.3 million expected. The results were helped by higher license fees and lower operating expenses. 

— For fiscal 2020, company expects revenues between $60 million and $65 million. Operating expenses are projected to be between $165 million and $170 million.

— IMGN shares shot up 5.4% immediately following the announcement. 

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