- Immunogen (IMGN) rises 5.8% premarket after the company's Q1 loss comes in narrower than anticipated. IMGN updated its pipeline in the PR.
- The company notes Roche's reported YTD Kadcyla sales of $168M and reminds investors that IMGN "receives and recognizes royalties on Kadcyla sales the quarter after the quarter in which Roche records the sales."
- The company says it will have "the data needed to make IMGN901 next-step decisions by mid-2014" (Phase 2 testing for small-cell lung cancer).
- IMGN289 to begin patient dosing "this quarter."
- IMGN529 clinical data expected next year.
- FY14 outlook: Net loss of $67-71M (versus previous guidance of a $72-76M loss) on revenue of $71-75M (versus previous guidance of $66-70M).
Immunogen beats, lifts guidance
Oct 25 2013, 08:22 ET