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. (IGMS) generates news primarily through its clinical-stage biotechnology activities and corporate transactions. The company has described itself as focused on developing engineered IgM-based therapeutic antibodies, including T cell engaging IgM antibodies, for cancer and autoimmune and inflammatory diseases. Its updates often cover progress in clinical trials, strategic shifts in its pipeline, collaboration developments and significant corporate events.
News items have detailed the advancement of key product candidates such as imvotamab, a CD20 x CD3 bispecific IgM T cell engager antibody studied in autoimmune indications including rheumatoid arthritis, systemic lupus erythematosus and idiopathic inflammatory myopathies, and IGM‑2644, a CD38 x CD3 T cell engager antibody in development for autoimmune diseases. Other releases have described clinical studies of aplitabart (also referred to as IGM‑8444), a death receptor 5 agonist evaluated in combination regimens for metastatic colorectal cancer, along with enrollment milestones and trial design features.
Corporate news has included a strategic pivot to focus exclusively on autoimmunity, with an associated pipeline transformation and workforce changes, followed by a later decision to halt further development of imvotamab and IGM‑2644 for autoimmune diseases and to explore internal options and strategic alternatives. IGM Biosciences has also issued announcements about its exclusive worldwide collaboration agreement with Sanofi on IgM antibody agonists for immunology and inflammation targets and other collaborations with biotechnology partners.
A major development in the company’s news flow is the announcement of a definitive merger agreement under which Concentra Biosciences, LLC will acquire IGM Biosciences through a cash tender offer and subsequent merger, with IGM Biosciences becoming a wholly owned subsidiary of Concentra. For readers following IGMS, the news stream provides context on the evolution of the company’s IgM antibody pipeline, its strategic decisions and the transaction that led to its acquisition.
IGM Biosciences appointed George A. Gauthier as Chief Commercial Officer, leveraging 20 years of global life sciences experience. Previously at Genentech, Gauthier led strategies for breast and gynecological cancers. CEO Fred Schwarzer highlighted Gauthier's role in advancing the commercialization of IGM's engineered IgM antibodies. IGM focuses on overcoming the challenges in IgM antibody development, aiming to utilize their unique properties in therapeutic applications. The company continues its journey in clinical-stage biotechnology, committed to innovative patient treatments.
IGM Biosciences (Nasdaq: IGMS) reported its Q4 and full-year 2020 financial results on March 30, 2021. The company’s cash and investments increased to $366.3 million from $236.6 million a year prior. R&D expenses rose to $65.0 million from $35.3 million, and G&A expenses increased to $18.3 million from $9.2 million. The net loss for 2020 was $81.4 million, with a loss per share of $2.65. In terms of clinical development, IGM aims to establish a Phase 2 dose for IGM-2323 and file an IND for IGM-7354 in 2021. The company anticipates full-year operating expenses between $175 million and $185 million.
IGM Biosciences (Nasdaq: IGMS) will announce its fourth quarter and year-end 2020 financial results on March 30, 2021. A live conference call will follow at 4:30 p.m. ET, where management will discuss the results and provide a corporate update. The call can be accessed via domestic and international dial-in numbers or through a live webcast. A replay will be available for 30 days on IGM's website. IGM focuses on developing engineered IgM antibodies and has created a proprietary IgM technology platform to overcome previous therapeutic limitations.
IGM Biosciences has appointed Lisa L. Decker, Ph.D. as Chief Business Officer, a role aimed at expanding its business development efforts. Ms. Decker brings over 20 years of experience in the life sciences sector, previously leading business strategy at Atreca. The company's CEO highlighted her track record in forming partnerships and executing business strategies, crucial for advancing IGM’s innovative IgM technology platform. This move is expected to enhance IGM's focus on oncology, infectious diseases, and autoimmune diseases.
IGM Biosciences (Nasdaq: IGMS) will have CEO Fred Schwarzer participate in a fireside chat at the Guggenheim Healthcare Talks 2021 Idea Forum Oncology Day on February 12, 2021, at 2:00 p.m. ET. The event will be held virtually, with a live webcast available on the company's website. A replay will be accessible for 90 days following the presentation. IGM Biosciences specializes in developing engineered IgM antibodies to enhance therapeutic applications.
IGM Biosciences has announced an exclusive license agreement with Medivir AB to develop birinapant, a SMAC mimetic drug, in combination with its own IGM-8444 antibody for treating solid tumors. IGM will pay $1 million upfront and an additional $1.5 million upon inclusion of birinapant in Phase I studies. Medivir could earn up to $350 million in milestone payments and tiered royalties on net sales. The combination has shown promising results in preclinical studies. IGM plans to initiate clinical testing later this year.
IGM Biosciences, a clinical-stage biotechnology company, announced that CEO Fred Schwarzer will present at the 39th Annual J.P. Morgan Healthcare Conference on January 14, 2021, at 11:40 a.m. ET. The presentation will focus on the company's development of engineered IgM antibodies. A live webcast will be accessible on the company's website, with an archived replay available for 90 days. IGM Biosciences has developed a proprietary IgM technology platform, aimed at overcoming challenges in the therapeutic application of IgM antibodies since its inception in 2010.
IGM Biosciences has successfully concluded an upsized public offering, selling a total of 1,221,224 shares of common stock at $90.00 each, alongside pre-funded warrants for 1,334,332 shares priced at $89.99. The offering raised approximately $230 million in gross proceeds. This capital will enhance IGM's capacity to develop engineered IgM antibodies utilizing its proprietary technology platform, aimed at improving therapeutic applications compared to IgG antibodies. Jefferies, Stifel, Guggenheim Securities, and RBC Capital Markets were the lead underwriters for this offering.
IGM Biosciences, Inc. (NASDAQ: IGMS) announced an upsized public offering of its common stock priced at $90.00 per share, along with pre-funded warrants at $89.99 each. The company aims to raise approximately $200 million in gross proceeds, which will support its growth. The offering includes a 30-day option for underwriters to purchase an additional $30 million in shares. The deal is expected to close around December 11, 2020, pending customary conditions. Jefferies, Stifel, Guggenheim Securities, and RBC Capital Markets are joint book-running managers for this offering.
IGM Biosciences, Inc. (NASDAQ: IGMS) announced plans to offer $150 million in shares of common stock and pre-funded warrants in an underwritten public offering. The offering includes a 30-day option for underwriters to purchase an additional $22.5 million. The securities will be offered under a Registration Statement filed with the SEC. The offering is subject to market conditions and there are no assurances on its completion. Jefferies, Stifel, Guggenheim Securities, and RBC Capital Markets are leading the offering.