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IGM Biosciences (IGMS) has shared an update.
IGM Biosciences, Inc. has shifted its collaboration with Genzyme Corporation to focus solely on immunology and inflammation targets. Following this change, the company has updated its 2024 revenue guidance, expecting to recognize $2 million for the year, with half in Q2. This adjustment relates to the accounting for a $150 million upfront payment from Sanofi in 2022. Despite these updates, IGM maintains its end-of-year cash balance forecast at $180 million, sufficient to fund operations into Q2 2026, and reiterates its 2024 operating expense projection of $210 million to $220 million.
See more data about IGMS stock on TipRanks’ Stock Analysis page.
