ImmunoGen Inc (IMGN)

[skitahoe]

I think they'll have positive remarks about this and other trials in the webcast presentation, but because of the way earnings come in, it's impossible to say if they'll come in at, below or above the consensus estimate. A single milestone payment booked in the quarter might make all the difference in meeting, or beating earnings estimates.

I personally believe that earnings should be considered meaningless in biotechs that are not yet marketing products. The problem is, some of the major news agencies, like Reuters, don't really have people who look at any depth at the technology, if in the quarterly report they said they achieved fantastic results in a cancer trial, but missed earnings by a few million dollars, or a few cents a share, the headline would be IMGN missed earnings, nothing would be said about the trial results that were reported.

Gary