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news.ImmunoGen, a biotechnology company that develops targeted antibody-based anticancer products using its antibody expertise and Targeted Antibody Payload (TAP) technology, has reported revenues of $4.18m for the second quarter ended 31 December 2010, compared to $3.11m for the comparable period in 2009.
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The company has posted a net loss of $14.23m for the second quarter 2010, or $0.21 per diluted share, compared to net loss of $13m, or $0.23 per diluted share, for the comparable period in 2009.
ImmunoGen‘s loss from operations was $15.51m, compared to $12.99m for the comparable period in 2009.
For the six months ended 31 December 2010, the company has posted revenue of $7.59m compared to $6.21m for the year ago period.
Loss from operations was $28.89m, compared to $25.67m for the year ago period.
The company has further reported a net loss of $27.12m, or $0.40 per diluted share, compared to $25.38m, or $0.44 per diluted share, for the year ago period.
ImmunoGen senior vice president and CFO Gregory Perry said they focused on developing novel anticancer compounds and aggressively advancing them to value-inflection points, while using business development as a source of non-dilutive financing.