WALTHAM, Mass. (AP) _ ImmunoGen Inc. (IMGN) on Friday reported a loss of $40.8 million in its fourth quarter.
The Waltham, Massachusetts-based company said it had a loss of 28 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The drug developer posted revenue of $13.8 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $12 million.
For the year, the company reported that its loss widened to $167.9 million, or $1.20 per share. Revenue was reported as $53.8 million.
ImmunoGen expects full-year revenue in the range of $40 million to $45 million.
ImmunoGen shares have increased 7 percent since the beginning of the year. The stock has decreased 43 percent in the last 12 months.
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