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IGM Biosciences ( (IGMS) ) just unveiled an update.
IGM Biosciences announced a strategic update to halt the development of two antibody therapies, imvotamab and IGM-2644, for autoimmune diseases due to insufficient results and strategic considerations. As part of the restructuring, the company will reduce its workforce by 73% to preserve cash and is exploring internal and strategic alternatives to maximize shareholder value.
More about IGM Biosciences
IGM Biosciences is a biotechnology company focused on developing and delivering medicines for autoimmune and inflammatory diseases. They have a collaboration agreement with Sanofi to develop IgM antibody agonists targeting immunology and inflammation.
YTD Price Performance: -0.16%
Average Trading Volume: 231,392
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $368.7M
For an in-depth examination of IGMS stock, go to TipRanks’ Stock Analysis page.
