ImmunoGen reports Q2 EPS (2c), consensus (14c)

Reports Q2 revenue $83.2, consensus $48.35M. ImmunoGen had $572.0M in cash and cash equivalents and $75.4M in accounts receivable as of June 30, compared with $275.1M in cash and cash equivalents and $12.6M in accounts receivable as of December 31, 2022. “This quarter we achieved a significant milestone for patients and our organization. With positive data from our confirmatory MIRASOL trial, ELAHERE is the first therapy to demonstrate an overall survival benefit versus chemotherapy in a Phase 3 trial in platinum-resistant ovarian cancer. These data further support the potential of ELAHERE to become the new standard of care for FRalpha-positive platinum-resistant disease,” said Mark Enyedy, ImmunoGen’s President and CEO. “In parallel, through strong execution by our commercial team supported by robust engagement from medical affairs, we have accelerated the ELAHERE launch, more than doubling our Q1 results with increasing breadth and depth of adoption driven by recognition of the benefits this novel treatment brings to patients with advanced ovarian cancer.”