IGM Biosciences, Inc. - IGMS STOCK NEWS

IGM Biosciences, a clinical-stage biotechnology company, announced that CEO Fred Schwarzer will participate in a virtual fireside chat at the Stifel 2023 Targeted Oncology Days on April 26, 2023, at 3:00 p.m. EDT. The event will be streamed live through the company’s Investors section on their website. A replay will be available for 90 days post-event.

IGM Biosciences focuses on developing engineered IgM antibodies to treat cancer, autoimmune diseases, and infectious diseases. Their unique technology allows for antibodies with 10 binding sites, surpassing conventional IgG antibodies, which have only 2 binding sites. The company also has an exclusive agreement with Sanofi to create IgM antibody agonists targeting oncology and immunology.

Medivir AB (NASDAQ Stockholm: MVIR) announced a presentation at the AACR Annual Meeting on April 17, 2023, highlighting a poster titled 'A triple combination of fostrox (MIV-818) with immune checkpoint and kinase inhibition shows increased anti-tumor efficacy in vivo.' Fostrox, an orally administered prodrug for liver-targeted therapy, is undergoing a phase 1/2a clinical study for advanced hepatocellular carcinoma (HCC) in combination with Keytruda® and Lenvima®. Data suggests that this triple combination may enhance anti-tumor effects, showing increased tumor infiltration of CD8+ T cells and PD-L1 expression. Medivir aims to address the significant unmet medical need in HCC treatment, as current therapies often fail to provide satisfactory results for many patients.

IGM Biosciences has announced the presentation of six posters highlighting data from their oncology pipeline during the AACR Annual Meeting 2023 in Orlando, Florida, from April 14-19. Key presenters, including the Chief Medical Officer Chris Takimoto, emphasized the potential anticancer activity and favorable safety profiles of their compounds, including IGM-8444, IGM-7354, IGM-2644, IGM-2537, and imvotamab. The presentations will cover various innovative therapies, focusing on the effectiveness of bispecific IgM antibodies in treating cancers like acute myeloid leukemia and multiple myeloma. IGM's ongoing clinical trials aim to advance these therapies and demonstrate their benefits to patients. The Company is also collaborating with Sanofi to develop additional IgM antibody treatments.

Medivir AB (NASDAQ Stockholm: MVIR) has announced the availability of its Annual Report for 2022 on its website. The report highlights significant progress in the clinical development of fostrox, a potential first-line treatment for liver cancer, which commenced Phase 2a trials in early 2023. The recruitment rate for this trial was notably high in the latter half of 2022. Additionally, several out-licensed projects are progressing positively and are anticipated to enter clinical development in 2023. The Annual Report encompasses insights into the company's innovative drug development strategy focused on addressing unmet medical needs in cancer treatment.

Medivir AB has announced its annual general meeting set for May 4, 2023, in Stockholm, where shareholders can participate in person or via postal voting. Key agenda items include the election of board members, approval of financial reports, and new articles of association. The board proposes a long-term incentive program for key employees, allowing them to receive matching shares based on personal investments. The meeting will also cover proposed share issues and repurchases aimed at funding the incentive program. Shareholders must register by April 25, 2023, to attend or vote.

On March 30, 2023, IGM Biosciences (Nasdaq: IGMS) reported encouraging developments, including the first patient dosed in the IGM-8444 clinical trial for metastatic colorectal cancer. The company aims to advance imvotamab for autoimmune diseases and has initiated a Phase 1 trial for IGM-7354, targeting solid tumors. Financially, IGM reported a net loss of $221.1 million for 2022, with a projected operating expense of $290-$300 million for 2023. Collaboration revenue is expected to reach approximately $3 million. As of December 31, 2022, cash and investments stood at $427.2 million, projected to decrease to $200 million by year-end 2023.