ImmunoGen reports increase in Q2 revenues
ImmunoGen has reported total revenues of $7.62m for the second quarter ended 31 December 2011, the second quarter of the company's 2012 fiscal year, compared to $4.18m for the same period ended 31 December 2010.
The company has reported a net loss of $12.75m, or $0.17 per share, for the second quarter of fiscal year 2012, compared to net loss of $14.23m, or $0.21 per share, for the same quarter of fiscal year 2011.
The company has posted total revenues of $10.15m, for the first half ended 31 December 2011, compared to $7.59m for the same period ended 31 December 2010.
Net loss for the first six months of fiscal year 2012 was $32.24m, or $0.42 per share, compared to net loss of $27.12m, or $0.40 per share, for the same period of fiscal year 2011.
ImmunoGen executive vice president and CFO Gregory Perry said the financial benefit of their business model is evident in the quarter's results.
"The $25m from our newest collaboration and recent partner milestones helps ImmunoGen develop and advance our wholly owned product candidates while reducing our dependence on capital markets," Perry added.
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