IGM Biosciences, Inc. - IGMS STOCK NEWS

IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology firm, announced that CEO Fred Schwarzer will partake in a fireside chat at the 2022 RBC Capital Markets Global Healthcare Conference on May 17, 2022, at 9:30 a.m. EST in New York. The event will be live-streamed on the Company’s website, with a replay available for 90 days. IGM Biosciences specializes in developing engineered IgM antibodies and has established a proprietary technology platform to enhance therapeutic use, overcoming previous manufacturing challenges since its inception in 2010.

IGM Biosciences has announced significant developments including a $150 million upfront payment from Sanofi as part of their exclusive global collaboration for researching IgM antibodies. The company also raised $230 million through a public equity offering. Clinical progress continues with IGM-2323 and IGM-8444, and the filing of IND applications for IGM-7354 and IGM-2644 is expected this year. Financials reveal a net loss of $51.9 million for Q1 2022, with operating expenses projected between $250 million and $260 million for the year.

IGM Biosciences Secures $150 Million from Sanofi

IGM Biosciences, Inc. (Nasdaq: IGMS) has successfully completed its collaboration agreement with Sanofi, with the $150 million upfront payment marking the commencement of the partnership. This collaboration focuses on developing IgM antibody agonists for three oncology and three immunology targets. The deal also includes potential milestone payments exceeding $6 billion, profit-sharing agreements, and royalties on global sales. CEO Fred Schwarzer expressed enthusiasm about the collaboration, emphasizing its potential to advance IGM's innovative IgM antibody platform.

IGM Biosciences (NASDAQ: IGMS) announced the closure of its public offering of 8,695,653 shares of non-voting common stock and an additional 1,304,347 shares of voting common stock after underwriters exercised their option. The offering price was $23.00 per share, generating approximately $230 million in gross proceeds before expenses. J.P. Morgan, BofA Securities, Stifel, and Guggenheim acted as joint book-running managers. This offering was registered under a Form S-3 with the SEC, providing investors with detailed information through the final prospectus supplement.

IGM Biosciences, Inc. (NASDAQ: IGMS) has priced its underwritten public offering of 8,695,653 shares of non-voting common stock at $23.00 per share, aiming to raise approximately $200 million in gross proceeds. The offering includes a 30-day option for underwriters to purchase an additional 1,304,347 shares of voting common stock. The offering is set to close on or around April 1, 2022, pending customary conditions. J.P. Morgan, BofA Securities, Stifel, and Guggenheim Securities are the joint book-running managers for this offering.

IGM Biosciences, Inc. (NASDAQ: IGMS) announced a proposed public offering of $200 million in common stock, with an option for underwriters to purchase an additional $30 million. The offering is subject to market conditions and will be conducted through a registration statement with the SEC. J.P. Morgan, BofA Securities, Stifel, and Guggenheim Securities are joint book-running managers for the offering. The company specializes in engineered IgM antibodies, aiming to overcome manufacturing challenges in the field.

IGM Biosciences announced a global collaboration with Sanofi targeting oncology, autoimmune, and inflammation areas. IGM will receive a $150 million upfront payment, with potential total milestones exceeding $6 billion. The partnership will leverage IGM's IgM antibody technology. The initiation of two Phase 2 studies for IGM-2323 in patients with DLBCL and FL was also announced. For 2021, IGM reported a net loss of $165.2 million, or $4.93 per share, while cash and investments were at $229.5 million. A conference call is scheduled for 8:00 a.m. ET today.

IGM Biosciences, a clinical-stage biotechnology company, announced a conference call on March 29, 2022, at 8:00 am ET to discuss a global collaboration with Sanofi. Interested parties can join by calling (866) 649-1996 domestically or (409) 217-8769 internationally, using conference ID 4983742. A live audio webcast will be available on their website under the Investors section, and a replay will be accessible for 90 days post-event. The company specializes in engineered IgM antibodies, aiming to overcome existing manufacturing challenges.

IGM Biosciences (Nasdaq: IGMS) announced progress in two Phase 1 clinical trials evaluating IGM-6268, an IgM monoclonal antibody for COVID-19. The trials in the U.S. and South Africa aim to assess the safety and preliminary efficacy of IGM-6268 administered intranasally. In vitro studies show IGM-6268 neutralizes the Omicron variant with an IC₅₀ of 230 ng/mL, demonstrating superior potency against various SARS-CoV-2 variants compared to traditional IgG antibodies. Data from both trials is expected in mid-2022.