Latest News by Industry
WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — ImmunoGen Inc. (IMGN) on Wednesday reported a loss of $59 million in its fourth quarter.
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 23 cents.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The drug developer posted revenue of $41.2 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $17.7 million.
For the year, the company reported that its loss widened to $222.9 million, or 88 cents per share. Revenue was reported as $108.8 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IMGN">Zacks stock report on IMGN at https://www.zacks.com/ap/IMGN