EarningsIGM Biosciences recorded a net loss of $0.79 per share—significantly wider than the original estimated net gain of $0.21 per share; the difference is attributed to lower-than-anticipated collaboration revenue.
Operational ExpensesIGM currently expects a full-year 2024 GAAP operating expense range of $210-220M, including $40M in stock-based compensation.
RisksRisks include inability to achieve a best-in-class profile for IGM-8444, failure to obtain approval for IGM-8444 or imvotamab, setbacks with other candidates, inability to achieve competitive manufacturing efficiencies with IgM-based antibodies, and medium to long-term dilution risk.