IMGN - ImmunoGen shares +3% on Q3 beat top-line up 37%

ImmunoGen ([[IMGN]]) Q3 results:Revenues: $18.2M (+36.8%); non-cash royalty revenue: $18.1M (+37.1%).Net loss: ($22.4M) (-2.8%); loss/share: ($0.13) (+13.3%).2020 guidance: Revenues: $60M - 65M (unch) (consensus: $67.37M); operating expenses: $160M - 165M from $165M - 170M; cash and equivalents at year-end: $245M - 250M.The company received FDA Breakthrough Therapy Designation for IMGN632 in relapsed or refractory BPDCN.First patient enrolled in Phase 1 trial evaluating ADAM9-Targeting ADC, IMGC936, in solid tumors.“At ESMO in September, we shared final data from our FORWARD II triplet cohort, which demonstrated the encouraging efficacy and favorable tolerability of mirvetuximab in combination with carboplatin and Avastin® in FR?-positive recurrent, platinum-sensitive ovarian cancer," said Mark Enyedy, President and CEO.In Q3, IMGN collaborated with Huadong Medicine to develop and commercialize mirvetuximab soravtansine in Greater China. The company will receive an upfront payment of $40M, with the potential milestone payments of up to $265M as well as low double-digit to high teen

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ImmunoGen shares +3% on Q3 beat, top-line up 37%