ImmunoGen reports 2Q loss

ImmunoGen reports second-quarter loss, misses expectations

WALTHAM, Mass. (AP) _ ImmunoGen Inc. (IMGN) on Friday reported a loss of $34.2 million in its fiscal second quarter.

On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 39 cents.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.

The drug developer posted revenue of $13.8 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $19.2 million.

ImmunoGen expects full-year revenue in the range of $70 million to $75 million.

The company's shares closed at $2.50. A year ago, they were trading at $7.57.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMGN at https://www.zacks.com/ap/IMGN

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Keywords: ImmunoGen, Earnings Report

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