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NGM Biopharmaceuticals, Inc. (NGM) is a clinical-stage biopharmaceutical company that specializes in the discovery and development of innovative, life-changing medicines. With a strong focus on cardio-metabolic and liver diseases, NGM Bio leverages its cutting-edge drug discovery platform to generate a pipeline of first-in-class biologic drug candidates, targeting a wide range of disease areas, including cancer.
NGM Bio's approach is deeply rooted in understanding the biology of hormones, cell receptors, and associated ligands. By investigating these biological mechanisms, the company assembles a comprehensive understanding of protein structure-function relationships. This approach, combined with expertise in protein and antibody engineering, allows NGM Bio to create potential first-in-class therapeutics with optimized pharmacologic profiles efficiently.
On the financial front, NGM Bio reported significant progress in 2023. The company continues to advance its clinical-stage solid tumor oncology portfolio with promising results. Additionally, NGM Bio's ALPINE 4 trial for aldafermin, targeting patients with compensated cirrhosis due to NASH, achieved its primary endpoint with positive results. This indicates clinical impact in a challenging patient population and positions aldafermin for potential late-stage development partnerships.
NGM Bio has also made strides in developing NGM707, a dual ILT2/ILT4 antagonist antibody, in combination with KEYTRUDA® (pembrolizumab). This combination has shown encouraging responses in heavily pretreated patients with advanced disease, including MSS CRC, which is typically unresponsive to anti-PD-1/L1 monotherapy.
In January 2024, NGM Bio announced its strategy to further focus its development efforts on rare conditions with significant unmet needs, such as Primary Sclerosing Cholangitis (PSC) and Hyperemesis Gravidarum (HG). This strategic shift aims to maximize near-term impact and value creation while staying aligned with NGM Bio's mission to deliver transformative medicines for patients.
Moreover, NGM Bio has entered into a definitive Agreement and Plan of Merger with Atlas Neon Parent, Inc., under which all outstanding shares of NGM Bio will be acquired at a price of $1.55 per share in cash. This acquisition is expected to close in the second quarter of 2024, resulting in NGM Bio becoming a privately held company.
Overall, NGM Biopharmaceuticals, Inc. is at the forefront of ushering in new therapeutic options for various diseases, driven by a robust research pipeline and strategic collaborations. For more information, visit NGM Bio's website.
NGM Biopharmaceuticals, Inc. (NGM), a biotechnology firm, announced CEO David J. Woodhouse will join the Cowen 43rd Annual Health Care Conference on March 7 at 9:10 am ET. He will discuss NGM's wholly-owned oncology portfolio as part of the Novel Oncology Targets Panel.
A live webcast will be available on NGM’s website, with a replay accessible for 30 days post-event. NGM focuses on developing transformative therapies, with a portfolio that includes four solid tumor oncology programs currently in clinical development.
NGM Biopharmaceuticals, Inc. (NGM) provided highlights and financial results for Q4 and full year 2022 on February 28, 2023. The company presented promising preliminary findings for NGM707 during the ESMO I-O Congress, showing early anti-tumor activity in advanced solid tumors. They initiated a Phase 1b trial for NGM438 in combination with KEYTRUDA. For 2022, NGM reported a net loss of $162.7 million, up from $120.3 million in 2021. R&D expenses rose to $181.1 million, while related party revenue from Merck decreased to $55.3 million. As of December 31, 2022, NGM had cash reserves of $271.5 million.
NGM Biopharmaceuticals, Inc. (NGM) will participate in the B. Riley Securities 3rd Annual Oncology Conference on January 19, 2023, at 11:00 am ET. CEO David J. Woodhouse, Ph.D., and CFO Siobhan Nolan Mangini will provide a business update focusing on NGM's oncology portfolio. A live webcast of the event will be available on NGM's website, and a replay will be accessible for 30 days post-event. NGM is dedicated to developing transformative therapeutics through biology-centric drug discovery, currently advancing five clinical programs.
NGM Biopharmaceuticals (NGM) provided an overview of its 2022 highlights and 2023 priorities. The three-pronged strategy emphasizes clinical development in solid tumor oncology, generating next-generation biologics, and forming partnerships for various programs, including aldafermin and NGM621. Notably, the company aims to advance its myeloid checkpoint inhibitor programs, NGM707, NGM831, and NGM438, into further clinical trials in 2023. NGM Bio's cash resources are projected to fund operations into Q4 2024, supporting its focus on developing transformative therapeutics.
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