ImmunoGen, Inc. announced un-audited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported net loss of $33.2 million or $0.38 per basic and diluted share, compared to net income of $13.6 million, or $0.16 per basic and diluted share, for the same quarter last year. Revenues were $18.0 million, compared to $48.3 million for second quarter of fiscal year 2015. The current period includes $8.6 million of amortization of upfront fees previously received from Takeda and the prior year period includes $41.4 million of amortization of upfront fees previously received from Novartis and Lilly. The company reported loss from operations of $28.2 million compared to income from operations of $13.8 million for the last year.

For the six months, the company reported net loss of $67.0 million or $0.77 per basic and diluted share compared to $8.6 million, or $0.10 per basic and diluted share, revenues of $32.9 million, compared to $61.5 million and loss from operations of $56.8 million, compared to $8.1 million for the last year. Cash used in operations was $63.0 million in the first six months of fiscal year 2016, compared with $34.4 million in the same period in fiscal year 2015. Capital expenditures were $7.6 million and $2.6 million for the first six months of fiscal year 2016 and fiscal year 2015, respectively.

The company's financial guidance remains unchanged from that issued in July 2015. The company expects: its revenues to be between $70 million and $80 million; net loss to be between $120 million and $125 million; cash used in operations to be between $100 million and $105 million; and capital expenditures to be between $13 million and $15 million.