WALTHAM, Mass. (AP) _ ImmunoGen Inc. (IMGN) on Friday reported a loss of $43.8 million in its first quarter.
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 30 cents.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The drug developer posted revenue of $8.6 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $10 million.
The company's shares closed at $2.51. A year ago, they were trading at $11.39.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMGN at https://www.zacks.com/ap/IMGN