IMGN - ImmunoGen raises ~$55M via ATM facility

ImmunoGen (IMGN) has raised gross proceeds of ~$54.8M through its At-the-Market ((ATM)) facility pursuant to its Open Market Sale Agreement dated as of September 25 with Jefferies. On October 9, the Company sold ~12.7M common shares at $4.33.The additional funds raised through the ATM strengthen the Company’s balance sheet and will be used to fund the Company’s operations, including, clinical trial activities, supply of drug substance and drug product, pre-commercialization and commercialization activities, capital expenditures, and working capital.

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ImmunoGen raises ~$55M via ATM facility