IGM Biosciences, Inc. (IGMS) is an early-stage biotherapeutics company engaged in the development of engineered IgM antibodies. The company is utilizing its abilities to create an exclusive IgM tech portfolio for those indications where IgM antibodies’ inherent characters may provide compensation in comparison to IgG antibodies.
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IGMS stock price during the regular trading session of March 28, 2022, was $14.9 with a loss of 1.45%. Its price made a comeback as of the writing in the premarket session on March 29, 2022, by 45.5%.
IGMS: Events and Happenings
On March 29, 2022, IGMS updated on hosting a conference call and webcast on March 29, 2022, (today) to discuss its international partnership contract with Sanofi.
On February 09, 2022, IGMS announced the advancements in Phase 1 clinical studies assessing the safety and tolerability of IGM-6268 for treating COVID-19. The dosage had been effectively cleared and results from the trials are expected in H1 2022.
On February 03, 2022, IGMS reported its Executive management’s presentation at the Virtual Guggenheim 2022 Oncology Conference held on February 10, 2022. On January 05, 2022, IGMS stated the participation of its top management at the Virtual 40th Annual J.P. Morgan Healthcare Conference held on January 12, 2022.
On December 11, 2021, IGMS presented the clinical outcomes from Phase 1 studies assessing IGM-2323 at the Annual Meeting and Exposition of the 63rd American Society of Hematology.
IGMS: Key Financials
IGMS released its third-quarter 2021 consolidated financials on November 4, 2021, for the quarter ended September 30, 2021. Some of the focal points are discussed below.
No revenue was recorded in the third quarter of corresponding years 2021 and 2020.
Net loss per share basic and diluted in Q3 2021 was $44.2 million or $1.32 corresponding to $20.3 million or $0.66 during the same quarter of 2020. The net loss of the company increased significantly YoY. The company topped EPS estimations b $0.05.
IGMS stock price dropped by 77% in the past half-year like several other companies due to the COVID-19 pandemic. Its price made a great comeback in Tuesday’s premarket trading as the company reported to host a conference call regarding its global partnership agreement with Sanofi. Also, its EP estimates for the fourth quarter of 2021 are -$1.54.