ImmunoGen, Inc. (IMGN) Friday posted narrower loss for the third quarter on the back of increased revenue for the period. Loss per share was narrower than what analysts had projected. The company further increased the projected net loss for the full-year as it anticipates some licenses that it had expected to be taken in this fiscal year to be taken in the 2014 fiscal year, shifting the recognition of the associated deferred revenue into the next year.
For the period the company reported net loss of $1.35 million compared with a loss of $18.66 million a year back. On a per share basis, loss for the period was $0.02 versus $0.24 a year back.
Fifteen analysts on average polled by Thomson Reuters estimated loss per share of $0.15 for the period. Analyst estimates typically exclude one-time items.
Revenue for the quarter was $25 million, up from $3.25 million last year. Analysts were looking for lower revenue of $11.94 million for the period. The firm said current quarter revenue includes $10.5 million milestone payment from Roche earned with the approval of Kadcyla in the US, and $11.1 million of amortization of upfront license fees received from Novartis.
Looking ahead the company now sees net loss for the year to be between $76 million to $80 million, wider than the prior view of between $70 million and $74 million.
The company further said it sees net cash used in operations for the full-year of between $65 million and $69 million lower than previous expectations of between $78 million and $82 million, primarily because of lower than expected operating expenses and working capital needs.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.