ImmunoGen, Inc. Announces Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Re-Affirm Earnings Guidance for the Fiscal Year 2016
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.