Igm Biosciences Stock Price, News & Analysis

IGM Biosciences, Inc. (IGMS) is a clinical-stage biotechnology company that has focused on developing engineered IgM-based therapeutic antibodies. The company’s work centers on using the unique structural properties of the IgM antibody to create a new class of medicines for serious diseases, including autoimmune and inflammatory conditions and certain cancers, as described in its public communications.

IGM Biosciences’ pipeline of clinical and preclinical product candidates is based on the IgM antibody, which it notes has 10 binding sites compared to conventional IgG antibodies with only 2 binding sites. According to the company, this structural difference underpins its approach to creating IgM antibodies and T cell engagers for therapeutic use. IGM has described itself as a clinical-stage company, reflecting that its product candidates are in various stages of clinical development rather than commercial use.

Therapeutic focus and pipeline

In multiple press releases, IGM Biosciences states that it is committed to developing medicines to treat patients with autoimmune and inflammatory diseases, and has also described a focus on cancer and autoimmune and inflammatory diseases. The company has highlighted a pipeline that includes IgM-based T cell engager antibodies and other IgM antibody constructs being evaluated in clinical trials and preclinical studies.

Among its programs, IGM has discussed:

• Imvotamab, described as a CD20 x CD3 bispecific IgM T cell engager antibody. The company has reported clinical development of imvotamab in autoimmune diseases, including rheumatoid arthritis, systemic lupus erythematosus and idiopathic inflammatory myopathies (myositis), through placebo-controlled and open-label clinical studies.
• IGM‑2644, described as a CD38 x CD3 T cell engager antibody. IGM has stated that it has made progress toward initiating clinical development of IGM‑2644 in autoimmune diseases, including a planned or ongoing clinical study in generalized myasthenia gravis.
• Aplitabart (also referred to as IGM‑8444), described as a death receptor 5 agonist. The company has reported randomized and single-arm clinical trials of aplitabart in combination with FOLFIRI and bevacizumab in metastatic colorectal cancer, with enrollment targets met or exceeded in those studies.

In earlier descriptions, IGM Biosciences also referenced additional IgM-based product candidates, including IGM‑7354, an IgM antibody delivering interleukin‑15 cytokines to PD‑L1 expressing cells, and other IgM antibodies targeting death receptor 5 proteins and B cell malignancies. These programs illustrate the company’s stated focus on engineered IgM antibodies across oncology and immunology indications.

Strategic evolution and focus on autoimmunity

In a corporate update, IGM Biosciences announced a strategic pivot and pipeline transformation to focus exclusively on autoimmunity, emphasizing the development of T cell engaging IgM antibodies for autoimmune diseases. The company identified imvotamab and IGM‑2644 as lead candidates in this effort. It stated that this pivot included steps to minimize future spending on aplitabart and other oncology candidates and described associated organizational changes and a reduction in force intended to extend its cash runway.

Subsequently, IGM Biosciences announced that it would halt further development of imvotamab and IGM‑2644 for autoimmune diseases, citing interim Phase 1b data for imvotamab in rheumatoid arthritis and systemic lupus erythematosus and strategic considerations for IGM‑2644. In the same update, the company stated that it was evaluating internal options and potential strategic alternatives with the goal of maximizing value for its shareholders and that it was implementing a significant workforce reduction to preserve cash.

Collaborations and partnerships

IGM Biosciences has disclosed several collaboration and license agreements related to its IgM antibody platform. The company has stated that it has an exclusive worldwide collaboration agreement with Sanofi to create, develop, manufacture and commercialize IgM antibody agonists against immunology and inflammation targets. It has also previously described collaborations with Atreca Inc. and BeiGene Ltd. to discover, develop and manufacture novel IgM and IgA antibodies targeting SARS‑CoV‑2 for the potential treatment of COVID‑19, and a strategic research collaboration and license agreement with AbCellera to discover and develop IgM antibodies.

Corporate transactions and trading status

IGM Biosciences’ common stock previously traded on The Nasdaq Global Select Market under the symbol IGMS. On July 1, 2025, the company announced that it had entered into a definitive merger agreement with Concentra Biosciences, LLC, under which Concentra would acquire all outstanding shares of IGM Biosciences common stock through a cash tender offer followed by a merger, with IGM Biosciences surviving the merger as a wholly owned subsidiary of Concentra. The company’s Board of Directors stated that it had unanimously determined that the acquisition was in the best interests of IGM Biosciences stockholders and approved the merger agreement and related transactions.

Subsequent SEC filings document changes in the company’s public reporting and listing status. A Form 25 filed with the SEC identifies a notification of removal of IGM Biosciences’ common stock from listing and registration on The Nasdaq Stock Market LLC under Section 12(b) of the Securities Exchange Act of 1934. A later Form 15 filing certifies the termination of registration of the company’s common stock under Section 12(g) of the Exchange Act and the suspension of its duty to file reports under Sections 13 and 15(d), indicating that IGM Biosciences has deregistered its common stock and ceased regular SEC reporting obligations. The Form 15 filing notes an approximate number of one holder of record as of the certification date.

In an 8‑K filed on July 1, 2025, the company describes the Agreement and Plan of Merger with Concentra and a wholly owned merger subsidiary, the structure of the tender offer and merger, and the terms under which outstanding common stock, stock options, restricted stock units and certain pre‑funded warrants would be treated in connection with the transaction. The filing also describes a contingent value rights agreement under which holders of contingent value rights would be entitled to specified portions of closing net cash above a stated threshold and a percentage of net proceeds from certain dispositions of product candidates and intellectual property within a defined period following the merger closing.

Regulatory filings and corporate information

IGM Biosciences has filed periodic reports, current reports and transaction-related documents with the U.S. Securities and Exchange Commission, including annual reports on Form 10‑K, quarterly reports on Form 10‑Q, current reports on Form 8‑K, Form 25 for delisting from Nasdaq and Form 15 for termination of registration and suspension of reporting obligations. These filings provide detailed information about the company’s financial position, clinical programs, collaboration revenues, operating expenses, accumulated deficit and other matters.

In connection with the merger process, an 8‑K filing notes that IGM Biosciences terminated its lease agreements for office space and states that the company does not maintain headquarters, while providing an address for stockholder communications for purposes of compliance with securities laws. A later Form 15 filing lists principal executive offices in San Diego, California, in the context of terminating registration under the Exchange Act.

Position within the biotechnology sector

Within the broader pharmaceutical preparation manufacturing and biotechnology sector, IGM Biosciences has described itself as a company focused on engineered IgM antibodies and IgM-based T cell engagers. Its public disclosures emphasize the potential of the IgM antibody format, its multi-binding-site structure and its application to autoimmune, inflammatory and oncologic diseases. The company’s collaborations with larger pharmaceutical and biotechnology partners, as well as its clinical-stage programs, are documented in its press releases and SEC filings.

Following the execution of the merger agreement with Concentra and the subsequent delisting and deregistration of its common stock, IGM Biosciences’ shares no longer trade on Nasdaq, and the company’s public reporting obligations under the Exchange Act have been suspended, as reflected in the Form 25 and Form 15 filings. For investors and researchers, the IGMS ticker now primarily represents the historical public company and its legacy clinical and corporate activities prior to becoming a wholly owned entity of Concentra.