IGM Biosciences Inc
NASDAQ:IGMS

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IGM Biosciences Inc
NASDAQ:IGMS
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Price: 1.27 USD -2.31% Market Closed
Market Cap: 76.6m USD

IGM Biosciences Inc
Investor Relations

IGM Biosciences, Inc. operates as a biotechnology company, which develops antibodies for the treatment of cancer. The company is headquartered in Mountain View, California and currently employs 192 full-time employees. The company went IPO on 2019-09-18. The company has developed an IgM antibody technology platform that is particularly well suited for developing T cell engagers, receptor cross-linking agonists and targeted cytokines. Its lead product candidate, IGM-2323, a bispecific T cell engaging IgM antibody targeting CD20 and CD3 proteins, is in an ongoing Phase I clinical trial for the treatment of relapsed/refractory B-cell non-Hodgkin’s lymphoma (NHL) patients. Its second product candidate, IGM-8444, is an IgM antibody targeting Death Receptor 5 (DR5) proteins, which is for the treatment of patients with solid and hematologic malignancies. The Company’s pipeline also includes IGM-7354, a bispecific IgM antibody delivering interleukin-15 (IL-15) cytokines to PD-L1 expressing cells for the treatment of patients with solid and hematologic malignancies.

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Last Earnings Call
Fiscal Period
Q4 2022
Call Date
Mar 30, 2023
AI Summary
Q4 2022

Financial Strength: IGM ended 2022 with $427.2 million in cash and investments, giving it a cash runway into the second half of 2024.

Clinical Progress: The company launched a randomized Phase 2 trial for IGM-8444 in metastatic colorectal cancer, adding a higher 10 mg/kg dose based on promising biomarker data and FDA feedback.

Strategic Shift: IGM will focus imvotamab development on autoimmune diseases like lupus and rheumatoid arthritis, stopping monotherapy development in non-Hodgkin's lymphoma.

Partnership and Pipeline: The Sanofi collaboration brought $150 million upfront and supports antibody development in both oncology and autoimmunity.

Guidance: 2023 GAAP operating expenses are expected between $290 and $300 million, with guidance to end the year with around $200 million in cash and investments.

Safety & Efficacy: Both IGM-8444 and imvotamab showed encouraging safety profiles and signs of activity in early studies, with imvotamab notable for low rates of cytokine release syndrome.

Key Financials
Cash and Investments
$427.2 million
Research and Development Expenses
$45 million (Q4), $179.3 million (FY 2022)
General and Administrative Expenses
$11.6 million (Q4), $49.7 million (FY 2022)
Collaboration Revenue
$0.4 million (Q4), $1.1 million (FY 2022)
Net Loss
$52.6 million (Q4), $221.1 million (FY 2022)
Loss Per Share
$1.19 (Q4), $5.32 (FY 2022)
Sanofi Upfront Payment
$150 million
Follow-on Equity Offering
$230 million (gross proceeds)
Earnings Call Recording
Other Earnings Calls
2022

Management

Ms. Mary Beth Harler M.D.
CEO & Director
No Bio Available
Mr. Misbah Tahir CPA
Chief Financial Officer
No Bio Available
Mr. TS Harigopal
Senior Vice President of Group Operations
No Bio Available
Mr. Steven Weber
Senior VP, Corporate Controller & Principal Accounting Officer
No Bio Available
Mr. Paul C. Graffagnino J.D.
Senior Vice President of Legal Affairs
No Bio Available
Ms. Suzette Tauber
Chief Human Resources Officer
No Bio Available
Dr. Angus M. Sinclair Ph.D.
Executive Vice President of Research
No Bio Available
Dr. Lisa L. Decker Ph.D.
Chief Business Officer
No Bio Available
Dr. Marvin S. Peterson Ph.D.
Executive Vice President of Process Development & Manufacturing
No Bio Available
Dr. Elizabeth Haanes J.D., Ph.D.
Senior Vice President of Intellectual Property
No Bio Available

Contacts

Address
CALIFORNIA
Mountain View
325 E Middlefield Rd
Contacts
+16509657873.0
igmbio.com