ImmunoGen Q1 top-line up 55%; guidance affirmed

ImmunoGen (IMGN) Q1 results:

Revenues: $13.3M (+54.7%).

Net loss: ($29.1M) (+33.6%); loss/share: ($0.17) (+43.3%); Quick Assets: $247.3M (+40.4%).

2020 Guidance: Revenues: $60M – 65M (unch).

The company initiated SORAYA trial for mirvetuximab soravtansine in platinum-resistant ovarian cancer.

Anticipated 2020 events: Present updated data from the FORWARD II platinum-sensitive triplet cohort evaluating mirvetuximab in combination with carboplatin and bevacizumab in the fall.

Continue enrollment in IMGN632 monotherapy and combination cohorts.

File IND for IMGC936 at the end of Q2.

Transition IMGN151 into pre-clinical development.

Shares are up 6% premarket.

Previously: ImmunoGen EPS misses by $0.02, misses on revenue (May 1)

https://seekingalpha.com/news/3567533-immunogen-q1-top-line-up-55-guidance-affirmed