Welcome to our dedicated page for IGM Biosciences news (Ticker: IGMS), a resource for investors and traders seeking the latest updates and insights on IGM Biosciences stock.
IGM Biosciences, Inc. (Nasdaq: IGMS) is a clinical-stage biotechnology company dedicated to transforming the treatment landscape for cancer, infectious diseases, and autoimmune and inflammatory diseases. At the core of the company’s innovation is its proprietary IgM antibody technology platform, which is optimized for developing T cell engagers, receptor cross-linking agonists, and targeted cytokines.
IGM Biosciences’ leading product candidate is IGM-2323, a bispecific IgM antibody currently in Phase 1 clinical trials aiming to treat patients with B cell non-Hodgkin lymphoma (NHL) and other B cell malignancies. Another promising candidate, IGM-8444, targets death receptor 5 (DR5) proteins and is being developed for the treatment of colorectal cancer. The company is also advancing IGM-7354, a bispecific IgM antibody designed to deliver interleukin-15 cytokines to PD-L1 expressing cells in patients with solid and hematologic malignancies.
IGM Biosciences has formed strategic collaborations to enhance its research and development efforts. These include partnerships with Atreca Inc. and BeiGene Ltd. to identify and develop novel IgM and IgA antibodies against SARS-CoV-2, and a strategic research collaboration with AbCellera to discover IgM antibodies. Additionally, IGM has an exclusive worldwide collaboration agreement with Sanofi to develop and commercialize IgM antibody agonists targeting oncology, immunology, and inflammation.
The financial outlook for IGM remains robust. For the 2023 fiscal year, the company projected operating expenses between $275 million and $285 million, including a non-cash stock-based compensation expense of around $50 million. IGM expects to end 2023 with over $325 million in cash and investments, ensuring its operations are funded into the second half of 2025.
Recent updates highlight significant progress in IGM’s pipeline. Notably, the company continues to advance candidates such as Imvotamab for severe systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA), and IGM-2644, a bispecific T cell engaging IgM antibody targeting CD38 and CD3 proteins.
IGM’s commitment to innovation is demonstrated by its ongoing efforts to develop novel therapies that meet unmet medical needs. With a robust pipeline and strategic partnerships, IGM Biosciences aims to make significant strides in the biopharmaceutical industry.
IGM Biosciences reported Q3 2024 financial results and corporate updates. The company is advancing clinical trials for imvotamab in autoimmune diseases, with initial data expected by mid-2025. Cash position stands at $218.8M as of September 30, 2024. Q3 net loss was $61.4M ($1.01 per share). The company expects 2024 operating expenses of $215-225M and projects cash runway into 2027. IGM-2644 is expected to enter clinical trials for generalized myasthenia gravis by end of 2024. The company has successfully completed the third dose cohort for rheumatoid arthritis trials and continues enrollment in systemic lupus erythematosus and myositis studies.
IGM Biosciences (Nasdaq: IGMS), a clinical-stage biotechnology company focused on engineered IgM antibodies, has announced its participation in three major investor conferences in November 2024. The company will present at the Guggenheim Healthcare Innovation Conference in Boston (Nov. 11), the Stifel Healthcare Conference in New York (Nov. 19), and the Jefferies London Healthcare Conference in London (Nov. 21).
Live webcasts of all presentations will be accessible through the company's investor relations website, with recordings available for 90 days post-presentation.
IGM Biosciences (Nasdaq: IGMS) announced a strategic pivot to focus exclusively on developing T cell engaging IgM antibodies for autoimmune diseases. Key points include:
1. Prioritizing pipeline of T cell engagers, including imvotamab for rheumatoid arthritis and systemic lupus erythematosus.
2. Appointment of Mary Beth Harler, M.D. as CEO and Board member.
3. Cash runway extended into 2027.
4. Minimizing future spending on oncology candidates, including aplitabart.
5. Leadership changes: Fred Schwarzer and Bruce Keyt stepping down from current roles, remaining as consultants; Chris Takimoto leaving the company.
The company will host a conference call and webcast to discuss the strategic pivot on September 30, 2024, at 4:30 p.m. EDT.
IGM Biosciences (Nasdaq: IGMS), a clinical-stage biotech company specializing in engineered IgM antibodies, has announced its participation in the Stifel 2024 Virtual Immunology and Inflammation Summit. CEO Fred Schwarzer and Head of Research & Autoimmunity, Dr. Mary Beth Harler, will engage in a fireside chat on Tuesday, September 17, 2024, at 9:00 a.m. EDT.
The event will be accessible via a live webcast on the company's investor relations website. Interested parties can view the presentation through the 'Events and Presentations' page. For those unable to attend live, a replay will be available on the company's website for 90 days following the presentation, ensuring widespread access to this important industry event.
IGM Biosciences (Nasdaq: IGMS) announced its Q2 2024 financial results and provided a corporate update. Key highlights include:
- Completed enrollment of 127 patients in the randomized colorectal cancer trial for aplitabart, with top-line PFS results expected by the end of Q1 2025
- Cleared second dose cohort in imvotamab rheumatoid arthritis trial and first dose cohort in systemic lupus erythematosus trial
- Q2 2024 financial results: $256.4 million in cash and investments, $1.3 million in collaboration revenue, $42.0 million in R&D expenses, and a net loss of $47.9 million ($0.79 per share)
- Full year 2024 guidance: GAAP operating expenses of $210-220 million, collaboration revenue of ~$2 million, and expected year-end cash balance of ~$180 million
IGM Biosciences, a clinical-stage biotech firm, will present at the Jefferies Healthcare Conference. CEO Fred Schwarzer will participate in a fireside chat on June 5, 2024, at 2:30 p.m. EDT in New York. The event will be webcast live via the company's website and archived for 90 days.
IGM Biosciences, Inc. (Nasdaq: IGMS) exceeded enrollment targets in clinical trials for aplitabart in colorectal cancer and imvotamab in rheumatoid arthritis. Financially, the company reported $293.8 million in cash and investments, with net loss of $49.8 million for the first quarter of 2024. The company expects full year 2024 GAAP operating expenses of $210-220 million and collaboration revenue of $63 million.
IGM Biosciences, Inc. (Nasdaq: IGMS) will be participating in a fireside chat at the 2024 RBCCM Global Healthcare Conference on May 14, 2024. The event will be webcasted live and available for replay on the company's website for 90 days.
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