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IGM Biosciences, Inc. (IGMS)

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63.93+1.66 (+2.67%)
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65.69 +1.76 (2.75%)
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Previous Close62.27
Open62.85
Bid63.53 x 1200
Ask67.00 x 1000
Day's Range62.85 - 66.28
52 Week Range41.41 - 133.00
Volume315,648
Avg. Volume198,131
Market Cap2.046B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-26.20
Earnings DateMay 05, 2021 - May 10, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est101.63
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    • IGM Biosciences Appoints George Gauthier as Chief Commercial Officer
      GlobeNewswire

      IGM Biosciences Appoints George Gauthier as Chief Commercial Officer

      Mr. Gauthier Brings 20 Years of Global Commercial Experience in the Life Sciences IndustryMOUNTAIN VIEW, Calif., April 12, 2021 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced the appointment of George A. Gauthier to the newly created position of Chief Commercial Officer. Mr. Gauthier joins IGM with twenty years of experience in global commercial strategy, marketing, sales and product development. Most recently, Mr. Gauthier was Vice President of Global Product Strategy for Breast and Gynecological Cancers at Genentech, where he led a global team in the creation and execution of commercial and product development strategies. “We are delighted to have George join our team to lead our commercial efforts,” said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. “George’s proven ability to create global commercialization success with transformational medicines will be essential to executing on our vision of broadly commercializing the promising IgM antibodies that we are developing with our platform technology.” “The team at IGM has shown a remarkable commitment to bringing new and important treatments to patients,” said Mr. Gauthier. “I share this commitment, and I look forward to developing a strategy and building a team that will allow us to create global commercial success for IgM based medicines.” Prior to his most recent role at Genentech, Mr. Gauthier served in multiple other roles at Genentech, including Life Cycle Leader of ROZYLTREK and KADYCLA, where he developed and implemented a new commercial model for rare biomarker driven cancers, including new field roles and pricing and reimbursement models. Before his time at Genentech, Mr. Gauthier served in a variety of roles at F. Hoffman-La Roche in Switzerland, including International Business Leader for Tarceva. Mr. Gauthier received his M.B.A. from Kellogg Graduate School of Management at Northwestern University and his B.S. in Chemical Engineering from Michigan State University. About IGM Biosciences, Inc.Headquartered in Mountain View, California, IGM Biosciences is a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies. Since 2010, IGM Biosciences has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies. Through its efforts, IGM Biosciences has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent properties may provide advantages as compared to IgG antibodies. IGM Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements, including statements relating to IGM’s plans, expectations and forecasts and to future events. Such forward-looking statements include, but are not limited to: the potential of, and expectations regarding IGM’s technology platform and product candidates, the potential safety and efficacy of its product candidates, IGM’s strategic plans and focus, and statements by Mr. Schwarzer and Mr. Gauthier. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially, including but not limited to: potential delays and disruption resulting from the COVID-19 pandemic and governmental responses to the pandemic, including any future impacts to IGM’s operations, the manufacturing of its product candidates, the progression of its clinical trials, enrollment in its current and future clinical trials and on its collaborations and related efforts; IGM’s early stages of clinical drug development; risks related to the use of engineered IgM antibodies, which is a novel and unproven therapeutic approach; IGM’s ability to demonstrate the safety and efficacy of its product candidates; IGM’s ability to successfully and timely advance its product candidates through preclinical studies and clinical trials; IGM’s ability to enroll patients in its clinical trials; the potential for the results of clinical trials to differ from preclinical, preliminary or expected results; the risk of significant adverse events, toxicities or other undesirable side effects; IGM’s ability to successfully manufacture and supply its product candidates for clinical trials; the risk that all necessary regulatory approvals cannot be obtained or that any approved products may not achieve broad market acceptance; the risk that the potential benefits of combination therapies do not outweigh their costs; IGM’s ability to obtain additional capital to finance its operations, if needed; uncertainties related to the projections of the size of patient populations suffering from the diseases IGM is targeting; IGM’s ability to obtain, maintain and protect its intellectual property rights; developments relating to IGM’s competitors and its industry, including competing product candidates and therapies; risks related to collaborations with third parties, including the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of any such collaboration; general economic and market conditions; and other risks and uncertainties, including those more fully described in IGM’s filings with the Securities and Exchange Commission (SEC), including IGM’s Annual Report on Form 10-K filed with the SEC on March 30, 2021, and in IGM’s future reports to be filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and IGM specifically disclaims any obligation to update any forward-looking statement, except as required by law. Contact: Argot PartnersDavid Pitts212-600-1902igmbio@argotpartners.com

    • IGM Biosciences Announces Fourth Quarter and Full Year 2020 Financial Results and Provides Corporate Update
      GlobeNewswire

      IGM Biosciences Announces Fourth Quarter and Full Year 2020 Financial Results and Provides Corporate Update

      – Recommended Phase 2 Dose for IGM-2323 Expected in 2021 – – Initial Data from Phase 1 Trial of IGM-8444 in Solid Cancers Expected in 2021 – – IND Filing for IGM-7354 Planned in 2021 – – Company to Host Conference Call Today at 4:30 p.m. ET – MOUNTAIN VIEW, Calif., March 30, 2021 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced its financial results for the fourth quarter and full year ended December 31, 2020 and provided an update on recent developments. “IGM reached a number of important milestones in 2020, including the presentation of encouraging initial results from our Phase 1 trial of IGM-2323 at the 2020 ASH Annual Meeting and the initiation of our Phase 1 clinical trial evaluating IGM-8444 in patients with solid cancers and non-Hodgkin’s lymphoma,” said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. “While 2020 was filled with significant accomplishments, we expect that 2021 will be even more productive. We expect to complete dose escalation in the Phase 1 study of IGM-2323 and establish a recommended Phase 2 dose, as well as complete initial dose escalation studies with IGM-8444 and initiate combination clinical studies of IGM-8444 with a standard chemotherapy regimen and with birinapant, our newly licensed Inhibitor of Apoptosis Proteins antagonist. We also expect to file an IND for our IL-15 x PD-L1 antibody, IGM-7354, in 2021.” Pipeline Updates IGM-2323 Recommended Phase 2 dose expected in 2021. IGM has now cleared the titration dose cohorts of 50/100 mgs, 50/300 mgs and 50/600 mgs and is currently open to enrollment to what is planned to be its top titration dose cohort, 50/1000 mgs. IGM is also currently enrolling to the expansion dose cohorts of 50/100 mgs, 50/300 mgs and 50/600 mgs. IGM expects to complete enrollment in the Phase 1 dose escalation study and establish a recommended Phase 2 dose in 2021. IGM-8444 Additional dose cohorts cleared. IGM has now cleared the first two dose cohorts of the single-agent portion of its Phase 1 clinical study and is currently open to enrollment to the third (3 mg/kg) of four single-agent biweekly dose escalation cohorts. IGM is also currently open to enrollment to its first chemotherapy combination dose cohort and its first single-agent weekly dose cohort. IGM expects to report initial data in solid tumors from the dose escalation portion of this Phase 1 trial in the second half of 2021. Entered into exclusive licensing agreement with Medivir for birinapant. In January 2021, IGM entered into an exclusive license agreement with Medivir AB, by which IGM received global, exclusive development and commercialization rights for birinapant, a clinical-stage SMAC mimetic that binds to and degrades Inhibitors of Apoptosis Proteins (IAPs), leading to cell death (apoptosis) in tumor cells. IGM plans to begin clinical testing of birinapant in combination with IGM-8444 this year. IGM-7354 File Investigational New Drug (IND) application. IGM expects to file an IND application with the U.S. Food and Drug Administration (FDA) in 2021 for IGM-7354 in order to begin clinical testing. IGM-7354 is a targeted IL-15 immune stimulating antibody which demonstrates another use of IGM’s novel J chain based bispecific technology. In this case, the immune stimulating IL-15 is attached to the J chain of an anti-PD-L1 IgM antibody, which serves to display the immune stimulating IL-15 on the surface of PD-L1 positive cells, such as cancer cells. Corporate Updates Completed manufacturing facility. Construction of IGM’s new cGMP manufacturing facility in Mountain View, California has been completed. IGM expects that cGMP manufacturing at this facility will begin in 2021.Completed upsized underwritten public offering of common stock. In December 2020, IGM closed a public offering of its common stock and prefunded warrants, with gross proceeds of $230.0 million, before deducting the underwriting discounts and commissions and other offering expenses payable by IGM. Fourth Quarter and Full Year 2020 Financial Results Cash and Investments: Cash and investments as of December 31, 2020 were $366.3 million, compared to $236.6 million as of December 31, 2019.Research and Development (R&D) Expenses: For the fourth quarter and year ended 2020, R&D expenses were $19.6 million and $65.0 million, respectively, compared to $12.8 million and $35.3 million for the fourth quarter and year ended 2019, respectively.General and Administrative (G&A) Expenses: For the fourth quarter and year ended 2020, G&A expenses were $5.1 million and $18.3 million, respectively, compared to $3.2 million and $9.2 million for the fourth quarter and year ended 2019, respectively.Net Loss: For the fourth quarter of 2020, net loss was $24.6 million, or a loss of $0.79 per share, compared to a net loss of $14.8 million, or a loss of $0.49 per share, for the fourth quarter of 2019. For the year ended 2020, net loss was $81.4 million, or a loss of $2.65 per share, compared to a net loss of $43.1 million, or a loss of $4.80 per share, for the year ended 2019. 2021 Financial GuidanceIGM expects full year GAAP operating expenses to be between $175 million and $185 million including estimated non-cash stock-based compensation expense of approximately $25 million. IGM expects to end 2021 with a balance of over $200 million in cash and investments. Conference Call and WebcastIGM will host a conference call and webcast to discuss this announcement today, March 30, at 4:30 p.m. ET. To access the live call by phone please dial (866) 649-1996 (domestic) or (409) 217-8769 (international); the conference ID is 2447309. A live audio webcast of the event may also be accessed through the “Investors” section of IGM’s website at www.igmbio.com. A replay of the webcast will be available for 30 days following the event. About IGM Biosciences, Inc.Headquartered in Mountain View, California, IGM Biosciences is a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies. Since 2010, IGM Biosciences has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies. Through its efforts, IGM Biosciences has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent properties may provide advantages as compared to IgG antibodies. Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements, including statements relating to IGM’s plans, expectations and forecasts and to future events. Such forward-looking statements include, but are not limited to: the potential of, and expectations regarding IGM’s technology platform, its antibody drug candidates and birinapant; statements regarding IGM’s Phase 1 clinical trials of IGM-2323 and IGM-8444; the anticipated timing of an IND filing for IGM-7354, the initiation of clinical testing of birinapant in combination with IGM-8444 and the commencement of cGMP manufacturing at IGM’s Mountain View facility; IGM’s expectations regarding operating expenses and cash and investments; and statements by the Chief Executive Officer of IGM. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially, including but not limited to: potential delays and disruption resulting from the COVID-19 pandemic and governmental responses to the pandemic, including any future impacts to IGM’s operations, the manufacturing of its product candidates, the progression of its clinical trials, enrollment in its current and future clinical trials and on its collaborations and related efforts; IGM’s early stages of clinical drug development; risks related to the use of engineered IgM antibodies, which is a novel and unproven therapeutic approach; IGM’s ability to demonstrate the safety and efficacy of its product candidates; IGM’s ability to successfully and timely advance its product candidates through preclinical studies and clinical trials; IGM’s ability to enroll patients in its clinical trials; the potential for the results of clinical trials to differ from preclinical, preliminary or expected results; the risk of significant adverse events, toxicities or other undesirable side effects; IGM’s ability to successfully manufacture and supply its product candidates for clinical trials; the risk that all necessary regulatory approvals cannot be obtained; the risk that the potential benefits of combination therapies do not outweigh their costs; IGM’s ability to obtain additional capital to finance its operations, if needed; uncertainties related to the projections of the size of patient populations suffering from the diseases IGM is targeting; IGM’s ability to obtain, maintain and protect its intellectual property rights; developments relating to IGM’s competitors and its industry, including competing product candidates and therapies; risks related to collaborations with third parties, including the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of any such collaboration; general economic and market conditions; and other risks and uncertainties, including those more fully described in IGM’s filings with the Securities and Exchange Commission (SEC), including IGM’s Annual Report on Form 10-K filed with the SEC on March 30, 2021, and in IGM’s future reports to be filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and IGM specifically disclaims any obligation to update any forward-looking statement, except as required by law. Contact:Argot PartnersDavid Pitts212-600-1902igmbio@argotpartners.com IGM Biosciences, Inc.Selected Statement of Operations Data(unaudited; in thousands, except share and per share data) Three Months Ended Year Ended December 31, December 31, 2020 2019 2020 2019 Operating expenses: Research and development (1)$19,599 $12,763 $65,030 $35,257 General and administrative (1) 5,140 3,174 18,250 9,241 Total operating expenses 24,739 15,937 83,280 44,498 Loss from operations (24,739) (15,937) (83,280) (44,498)Other income, net 117 1,122 1,925 1,365 Net loss$(24,622) $(14,815) $(81,355) $(43,133) Net loss per share, basic and diluted$(0.79) $(0.49) $(2.65) $(4.80) Weighted-average common shares outstanding, basic and diluted 31,298,264 30,478,980 30,748,280 8,995,410 (1) Amounts include stock-based compensation expense as follows: Research and development$1,203 $192 $4,160 $522 General and administrative 1,379 208 4,294 492 Total stock-based compensation expense$2,582 $400 $8,454 $1,014 IGM Biosciences, Inc.Selected Balance Sheet Data(unaudited; in thousands) December 31, December 31, 2020 2019 Cash and investments$366,269 $236,607 Total assets 408,632 261,350 Accounts payable 7,924 3,087 Accrued liabilities 6,649 3,305 Total liabilities 26,817 21,119 Accumulated deficit (188,560) (107,205)Total stockholders' equity 381,815 240,231

    • ACCESSWIRE

      IGM Biosciences Inc to Host Earnings Call

      NEW YORK, NY / ACCESSWIRE / March 30, 2021 / IGM Biosciences Inc (NASDAQ:IGMS) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 30, 2021 at 4:30 PM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.