Thu, Sep. 29, 4:21 PM
- Micro cap ImmunoGen (NASDAQ:IMGN) eases 4% after hours, albeit on turnover of only 440 shares, following its announcement that it has completed a strategic review of its business. As a result, it will trim its workforce by 17% (65 positions) and seek a development partner for its non-core B-cell lymphoma programs. The company says the move will save $11M in annual operating costs. Most of the cuts will come from Technical Operations and G&A functions.
- The savings will enable it to fund operations into mid-2018 and through the interim analysis of its pivotal study of mirvetuximab soravtansine.
- Management will host a conference call at 4:30 pm ET to discuss its plans.
Thu, Aug. 4, 9:16 AM
- Gainers: CBMX +31%. OCUL +27%. ALIM +18%. GV +18%. SQ +17%. DRAM +16%. XPO +14%. PCRX +12%. FHCO +11%. EPE +10%. EXEL +8%. APHB +7%. SSYS +7%. GOGO +6%. EVOK +5%. TSEM +5%.
- Losers: SGMO -25%. TDOC -21%. INOV -17%. KOOL -13%. SEAS -10%. QUIK -9%. IMGN -9%. CF -8%. AMRN -8%. TRIP -8%. CRC -6%. USCR -6%.
Thu, Aug. 4, 6:33 AM
Wed, Aug. 3, 5:30 PM
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Tue, Jun. 14, 12:51 PM
Tue, Jun. 14, 11:00 AM
Mon, Jun. 13, 4:27 PM
- ImmunoGen (NASDAQ:IMGN) announces plans for a $100M private offering of convertible senior notes due 2021. Price, yield and terms have yet to be announced.
- Net proceeds will fund operations, R&D, capex, working capital and general corporate purposes.
- Shares are off 14% after hours on increased volume.
- Update: On June 15, the company announced that the 4.50% convertible senior notes due 2021 would be priced at par. Initial purchasers have a 30-day option to buy an additional $15M aggregate principal amount of the notes. The conversion rate, which could be adjusted at a later point in time, is 238.7775 shares per $1,000 principal amount (~$4.19 per share).
- Net proceeds should be $96.7M ($111.2M if initial purchasers fully exercise their option to buy more notes).
Fri, Apr. 29, 9:12 AM
- Gainers: PRGN +75%. GNW +16%. P +13%. AMZN +12%. SDRL +11%. EXPE +11%. MNST +11%. ROVI +10%. SNMX +9%. LNKD +7%. CRC +7%. DNR+7%. DRYS +7%. TIVO +6%. LGCY +6%. SHPG +5%. GPL +5%.
- Losers: BIOC -22%. GLNG -17%. EPAY -17%. MOH -15%. SRCL -15%. IMGN -14%. SYNA -11%. AKS -8%. HCLP -8%. ALR -6%. GILD -6%. RXDX -6%.
Fri, Apr. 29, 7:30 AM
- ImmunoGen (IMGN) FQ3 results: Revenues: $19.7M (+72.8%); R&D Expense: $36.1M (+40.5%); SG&A: $11.2M (+60.0%); Operating Loss: ($27.6M) (-30.2%); Net Loss: ($31.9M) (-47.7%); Loss Per Share: ($0.37) (-48.0%); Quick Assets: $182.9M (-34.2%).
- 2016 Guidance: Revenues: $60M - 70M from $70M - 80M; operating expenses: $180M - 185M from $175M - 180M; net loss: ($135M - 140M) from ($120M - 125M); cash burn: ($110M - 115M) from ($100M - 105M); capex: $13M - 15M (unch); quick assets at fiscal year end: $155M - 160M from $165M - 170M.
Fri, Apr. 29, 6:31 AM
- ImmunoGen (NASDAQ:IMGN): FQ3 EPS of -$0.37 misses by $0.06.
- Revenue of $19.71M (+72.4% Y/Y) misses by $3.46M.
Thu, Apr. 28, 5:30 PM| Thu, Apr. 28, 5:30 PM | 3 Comments
Tue, Apr. 26, 8:23 AM
Tue, Apr. 5, 4:26 PM
Thu, Feb. 4, 11:01 AM
- ImmunoGen (IMGN +9.7%) establishes a clinical research collaboration with Merck (MRK -1.4%) to evaluate the combination of IMGN's mirvetuximab soravtansine and Keytruda (pembrolizumab) for the treatment of patients with folate receptor (FR) alpha-positive ovarian cancer. The combination therapy will be added to IMGN's Phase 1b/2 clinical trial called FORWARD II. The agreement, through a Merck subsidiary, includes an option to expand the collaboration to include a Phase 3 study if the results are positive.
- Mirventuximab soravtansine is an antibody-drug conjugate (ADC) that contains a monoclonal antibody (mirventuximab) that binds to FRalpha-positive tumor cells thereby delivering its cytotoxic payload, soravtansine or DM4.
- KEYTRUDA helps the immune system fight tumor cells by blocking the interaction between PD-1, a cell surface receptor expressed on T cells and pro-B cells, and its ligands PD-L1 and PD-L2. PD-1 is an immune checkpoint which down regulates the immune system. Blocking its action activates the immune system to attack cancer cells.
Fri, Jan. 29, 7:17 AM
- ImmunoGen (IMGN) FQ2 results: Revenues: $18M (-62.7%); R&D Expense: $38.2M (+38.4%); SG&A: $8.1M (+17.4%); Operating Loss: ($28.2M) (-304.3%); Net Loss: ($33.2M) (-344.1%); Loss Per Share: ($0.38) (-337.5%); Quick Assets: $212.3M (-23.7%).
- 2016 Guidance: Revenues: $70M - 80M (unch); operating expenses: $175M - 180M (unch); net loss: ($120M - 125M) (unch); cash burn: ($100M - 105M) (unch); capex: $13M - 15M (unch); quick assets at fiscal year end: $165M - 170M (unch).
Fri, Jan. 29, 6:32 AM
- ImmunoGen (NASDAQ:IMGN): FQ2 EPS of -$0.38 misses by $0.02.
- Revenue of $18.03M (-62.7% Y/Y) beats by $0.16M.