IMGN - ImmunoGen reports Q3 mixed earnings; raises FY22 revenue guidance

• ImmunoGen press release ( NASDAQ: IMGN ): Q3 GAAP EPS of -$0.31 misses by $0.05 .
• Revenue of $15.4M (+67.2% Y/Y) beats by $3.26M .
• ImmunoGen had $309.5M in cash and cash equivalents as of September 30, 2022, compared with $478.8M as of December 31, 2021.
• Cash used in operations was $169.6M for the first nine months of 2022, compared with cash used in operations of $123.5M for the same period in 2021.
• Capital expenditures were $1.1M in each of the nine months ended September 30, 2022 and 2021.

• Guidance: ImmunoGen has updated its financial guidance for 2022 and now expects: revenues between $80 million and $90 million vs. consensus of $80.32M; operating expenses between $320 million and $330 million; and cash and cash equivalents at December 31, 2022 to be between $230 million and $240 million.

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