IGMS IGM Biosciences Inc.

62.71
+1.8  (+3%)
Previous Close 60.91
Open 61
52 Week Low 19.605
52 Week High 89.81
Market Cap $1,925,234,062
Shares 30,700,591
Float 7,156,030
Enterprise Value $1,696,476,879
Volume 127,194
Av. Daily Volume 232,789
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Upcoming Catalysts

Drug Stage Catalyst Date
IGM-2323
Relapsed/refractory B cell Non-Hodgkin’s lymphoma (NHL)
Phase 1
Phase 1
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IGM-8444
Solid Cancers and Non-Hodgkin’s Lymphoma
Phase 1
Phase 1
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Latest News

  1. MOUNTAIN VIEW, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that Fred Schwarzer, Chief Executive Officer, has participated in a fireside chat in advance of the Piper Sandler 32nd Annual Virtual Healthcare Conference, being held December 1-3, 2020.

    A recording of the fireside chat is now available on the "Events and Presentations" page in the "Investors" section of the Company's website at https://investor.igmbio.com/news-and-events/events-and-presentations and will be available for 90 days.

    About IGM Biosciences, Inc.
    Headquartered in Mountain View, California, IGM Biosciences is a clinical-stage…

    MOUNTAIN VIEW, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that Fred Schwarzer, Chief Executive Officer, has participated in a fireside chat in advance of the Piper Sandler 32nd Annual Virtual Healthcare Conference, being held December 1-3, 2020.

    A recording of the fireside chat is now available on the "Events and Presentations" page in the "Investors" section of the Company's website at https://investor.igmbio.com/news-and-events/events-and-presentations and will be available for 90 days.

    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.

    Contact:

    Argot Partners

    David Pitts

    212-600-1902





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  2. MOUNTAIN VIEW, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that Fred Schwarzer, Chief Executive Officer, will present at three upcoming investor conferences:

    • Stifel Virtual Healthcare Conference on Monday, November 16 at 3:20 p.m. ET.
    • Jefferies Virtual London Healthcare Conference on Tuesday, November 17 at 2:20 p.m. ET.
    • Wolfe Research Healthcare Conference on Wednesday, November 18 at 12:55 p.m. ET.

    A live webcast of the events will be available on the "Events and Presentations" page in the "Investors" section of the Company's website at https://investor.igmbio.com/news-and-events/events-and-presentations

    MOUNTAIN VIEW, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that Fred Schwarzer, Chief Executive Officer, will present at three upcoming investor conferences:

    • Stifel Virtual Healthcare Conference on Monday, November 16 at 3:20 p.m. ET.
    • Jefferies Virtual London Healthcare Conference on Tuesday, November 17 at 2:20 p.m. ET.
    • Wolfe Research Healthcare Conference on Wednesday, November 18 at 12:55 p.m. ET.

    A live webcast of the events will be available on the "Events and Presentations" page in the "Investors" section of the Company's website at https://investor.igmbio.com/news-and-events/events-and-presentations. A replay of the webcasts will be archived on the Company's website for 90 days following the presentations.

    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.

    Contact:

    Argot Partners

    David Pitts

    212-600-1902

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  3. MOUNTAIN VIEW, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- - Initial Data from Phase 1 Trial of IGM-2323 in Relapsed/refractory Non-Hodgkin's Lymphoma to be Presented at the 62nd American Society of Hematology Annual Meeting and Exposition in December -

    - First-in-Human Clinical Trial of IGM-8444 for the Treatment of Solid Cancers and Non-Hodgkin's Lymphoma Initiated -

    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 third quarter ended September 30, 2020 and provided an update on recent developments.

    "We are very pleased with the progress that we have made through the first three quarters of 2020 in advancing…

    MOUNTAIN VIEW, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- - Initial Data from Phase 1 Trial of IGM-2323 in Relapsed/refractory Non-Hodgkin's Lymphoma to be Presented at the 62nd American Society of Hematology Annual Meeting and Exposition in December -

    - First-in-Human Clinical Trial of IGM-8444 for the Treatment of Solid Cancers and Non-Hodgkin's Lymphoma Initiated -

    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 third quarter ended September 30, 2020 and provided an update on recent developments.

    "We are very pleased with the progress that we have made through the first three quarters of 2020 in advancing our pipeline programs both in the clinic and in research," said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. "Our lead IgM antibodies, IGM-2323 and IGM-8444, are moving forward in clinical trials, and we look forward to presenting initial, first-in-human clinical data from our Phase 1 trial of IGM-2323 at the upcoming ASH Annual Meeting in December and to presenting initial clinical data from our Phase 1 trial of IGM-8444 in 2021."

    Pipeline Updates:

    IGM-2323

    • Phase 1 data to be presented at American Society of Hematology (ASH) Annual Meeting. IGM will report initial data from its Phase 1 clinical trial evaluating IGM-2323 in patients with relapsed/refractory Non-Hodgkin's Lymphoma (NHL), the first-in-human application of IGM's engineered IgM antibody technology, at the ASH Annual Meeting being held virtually December 5-8, 2020.

    IGM-8444

    • Initiated Phase 1 trial of IGM-8444. IGM announced that the first patient has been dosed in its Phase 1 clinical trial evaluating IGM-8444 in patients with solid cancers and NHL. IGM expects to report initial data from this Phase 1 trial in 2021.

    IGM-7354

    • IGM-7354 preclinical data to be presented at Society for Immunotherapy of Cancer (SITC) Annual Meeting. The poster, titled "Targeting IL-15 delivery to PD-L1 Expressing Tumors using an Anti-PD-L1 x IL-15 Cytokine Fusion IgM to Enhance T Cell and NK Cell Mediated Tumor Cytotoxicity", will be made available online via the meeting's virtual poster hall beginning on Monday, November 9 at 8:00 a.m. ET.

    Corporate Updates:

    • Multi-year antibody discovery collaboration with AbCellera announced. IGM and AbCellera announced that they have entered into a multi-year, multi-target strategic research collaboration and license agreement intended to expedite discovery of novel IgM antibodies. AbCellera will generate panels of antibodies for multiple therapeutic targets identified by IGM using its full-stack, AI-powered antibody discovery technology, and IGM will have the rights to develop and commercialize the novel antibodies resulting from this collaboration.

    Third Quarter 2020 Financial Results:

    • Cash and Investments: Cash and investments as of September 30, 2020 were $180.2 million, compared to $236.6 million as of December 31, 2019.
    • Research and Development (R&D) Expenses:  For the third quarter of 2020, R&D expenses were $15.8 million, compared to $8.3 million for the same period in 2019.
    • General and Administrative (G&A) Expenses:  For the third quarter of 2020, G&A expenses were $4.7 million, compared to $2.4 million for the same period in 2019.
    • Net Loss: For the third quarter of 2020, net loss was $20.3 million, or a loss of $0.66 per share, compared with a net loss of $10.2 million, or a loss of $2.41 per share, for the same period in 2019.
    • Shares Outstanding: Weighted-average shares outstanding for the third quarter of 2020 were 30.6 million, compared to 4.2 million for the same period in 2019.

    2020 Financial Guidance:

    IGM expects non-GAAP operating expenses for 2020 to be approximately $80 - $85 million, excluding estimated non-cash stock-based compensation expense of approximately $9 million. Including non-cash stock-based compensation expense, IGM estimates GAAP operating expenses for 2020 to be $89 - $94 million. IGM expects to end 2020 with a balance of over $140 million in cash and investments.

    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 Statements

    This 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, the Company's IgM technology platform, its IgM antibodies and IGM-2323 and IGM-8444, statements regarding the Company's Phase 1 clinical trials of IGM-2323 and IGM-8444, including the timing of reporting initial data from those clinical trials, the presentation of initial, first-in-human clinical data from the Company's Phase 1 trial of IGM-2323 at the ASH Annual Meeting in December, the Company's development strategy for IGM-2323 and IGM-8444,  the potential of, and expectations regarding, the collaboration with AbCellera and the nature and scope of such collaboration, the Company's future financial and operating performance, including its financial guidance for the full year 2020 and year end 2020 cash and investments balance, and statements by IGM's Chief Executive Officer. 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 advance product candidates into, and successfully complete, clinical trials on the timelines it projects; the risk that all necessary regulatory approvals cannot be obtained; IGM's ability to adequately demonstrate sufficient safety and efficacy of its product candidates; IGM's ability to enroll patients in its ongoing and future clinical trials; the potential for clinical trials of IGM-2323, IGM-8444 or any future clinical trials of other product candidates to differ from preclinical, preliminary or expected results; IGM's ability to successfully manufacture and supply its product candidates for clinical trials; 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 26, 2020, IGM's Quarterly Report on Form 10-Q filed with the SEC on November 5, 2020 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 Partners

    David Pitts

    212-600-1902

     FINAL 11-04-2020 
     IGM Biosciences, Inc. 
     Selected Statement of Operations Data 
     (unaudited) 
     (in thousands, except share and per share data) 
                   
                   
           Three Months Ended Nine Months Ended 
           September 30, September 30, 
            2020   2019   2020   2019  
                   
     Operating expenses:          
      Research and development (1) $15,829  $8,279  $45,431  $22,494  
      General and administrative (1)  4,732   2,394   13,110   6,067  
       Total operating expenses  20,561   10,673   58,541   28,561  
                   
     Loss from operations   (20,561)  (10,673)  (58,541)  (28,561) 
     Other income, net   291   501   1,808   243  
                   
     Net loss    $(20,270) $(10,172) $(56,733) $(28,318) 
                   
     Net loss per share, basic and diluted$(0.66) $(2.41) $(1.86) $(16.13) 
                   
     Weighted-average common shares outstanding, basic and diluted        
      30,646,729   4,222,259   30,563,614   1,755,526  
                   
                   
     (1)Amounts include stock-based compensation expense as follows:       
                   
      Research and development $1,244  $116  $2,957  $330  
      General and administrative  1,350   218   2,915   284  
      Total stock-based compensation expense$2,594  $334  $5,872  $614  
                   
                   
                   
     IGM Biosciences, Inc. 
     Selected Balance Sheet Data 
     (unaudited) 
     (in thousands) 
                  
                  
             September 30, December 31,   
              2020   2019    
                   
     Cash and investments    $180,236  $236,607    
     Total assets      211,717   261,350    
     Accrued liabilities  7,472   3,305    
     Total liabilities     23,541   21,119    
     Accumulated deficit     (163,938)  (107,205)   
     Total stockholders' equity    188,176   240,231    
                   

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  4. MOUNTAIN VIEW, Calif., Nov. 04, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that it expects the first clinical data from its Phase 1 trial evaluating IGM-2323 will be presented at the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition, which will be held virtually. IGM-2323 is a bispecific IgM antibody targeting the CD20 protein on the surface of lymphoma cells and the CD3 protein on the surface of T cells in order to kill lymphoma cells in patients with non-Hodgkin's lymphoma (NHL). The Company's multicenter, open-label Phase 1 clinical trial is intended to assess the safety, pharmacokinetics…

    MOUNTAIN VIEW, Calif., Nov. 04, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that it expects the first clinical data from its Phase 1 trial evaluating IGM-2323 will be presented at the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition, which will be held virtually. IGM-2323 is a bispecific IgM antibody targeting the CD20 protein on the surface of lymphoma cells and the CD3 protein on the surface of T cells in order to kill lymphoma cells in patients with non-Hodgkin's lymphoma (NHL). The Company's multicenter, open-label Phase 1 clinical trial is intended to assess the safety, pharmacokinetics and preliminary efficacy of intravenous IGM-2323 in patients with relapsed/refractory B cell NHL.

    The preliminary results are expected to be presented on Saturday, December 5, 2020, at 7:00 a.m. PT, in an oral poster presentation titled "Preliminary Results of a Phase 1 Dose Escalation Study of the First-in-Class IgM Based Bispecific Antibody IGM-2323 (anti-CD20 x anti-CD3) in Patients with Advanced B-Cell Malignancies." At the time of the ASH Annual Meeting, IGM plans to present additional safety, pharmacokinetic, biomarker and efficacy data from the eight patients described in the abstract released today (Budde et. al., abstract #134983) and from additional patients treated subsequent to the data cut-off for the abstract. IGM is currently enrolling patients for treatment with 300 mg, but data from this dose cohort will not be available by the time of the ASH Annual Meeting.

    As described in the abstract, as of June 12, 2020, eight patients had been treated at 4 dose levels (0.5, 2.5, 10, and 30 mg). The eight patients had received an average of four prior therapies before treatment with IGM-2323. Six of the eight patients remained on active treatment as of the data cut-off for the abstract. No dose limiting toxicities (DLTs) or drug related serious adverse events (SAEs) had been observed among the eight patients. Two patients had experienced low-grade transient fevers, but no grade 2 or higher cytokine release syndrome had been observed among the eight patients. When cytokines were detectable following dosing, they were transient and had returned to baseline at less than 6-12 hours. Interferon-gamma (IFNg) was the primary cytokine observed, with significant levels of IL-6 detected in only one patient. Preliminary results from this first-in-human T cell engaging antibody study show an improved safety and tolerability profile. There is also evidence of a novel mechanism of action based on repeatable T cell activation and preservation of T cell function compared with other T cell engaging antibodies.

    "We are very pleased with the clinical data described in the abstract from the first-in-human clinical testing of an engineered IgM antibody," said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. "We believe that these data provide an important initial validation of the IGM T cell engaging bispecific technology and the broader IGM antibody technology platform. We look forward to the continued development of IGM-2323, IGM-8444 and our extensive pipeline of IgM antibodies."

    "It is very encouraging to see evidence of a repeatable immune activation of T cells," said Daniel Chen M.D., Ph.D., Chief Medical Officer of IGM Biosciences. "This is in contrast to the T cell activation profile of other T cell engagers and CAR-T cells and suggests that IGM-2323 is activating T cells in a manner which is different from IgG and fragment-based T cell engagers and which preserves T cell function and repeatable T cell activation. We look forward to presenting our initial clinical results at ASH, continuing the development of IGM-2323 and applying this novel T cell engager technology to additional hematologic and solid tumor targets and indications."

    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 Statements

    This 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, the Company's IgM technology platform, IGM-2323 and its other IgM antibodies, statements regarding the Company's Phase 1 clinical trial of IGM-2323, the timing of reporting initial clinical data from the Phase 1 trial of IGM-2323, the presentation of initial clinical data from the Phase 1 trial of IGM-2323 at the ASH Annual Meeting in December, the Company's development strategy for IGM-2323, and statements by IGM's Chief Executive Officer and Chief Medical Officer. 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; 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; the risk that IGM-2323 or IGM's other product candidates may cause significant adverse events, toxicities or other undesirable side effects; the potential for clinical trials of IGM-2323 or IGM-8444, or any future clinical trials of other product candidates, to differ from preclinical, preliminary or expected results; the risk that initial, interim, topline or preliminary data from IGM's clinical trials may change as more patient data become available, and are subject to audit and verification procedures that could result in material changes in the later or final data; IGM's ability to adequately demonstrate sufficient safety and efficacy of IGM-2323 and its other product candidates; IGM's ability to advance product candidates into, and successfully complete, clinical trials on the timelines it projects; the risk that all necessary regulatory approvals cannot be obtained; IGM's ability to enroll patients in its ongoing and future clinical trials; IGM's ability to successfully manufacture and supply its product candidates for clinical trials; 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; 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 26, 2020, IGM's Quarterly Report on Form 10-Q filed with the SEC on August 6, 2020 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 Partners

    David Pitts

    212-600-1902

     

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  5. MOUNTAIN VIEW, Calif., Sept. 30, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that the first patient has been dosed in its Phase 1 clinical trial evaluating IGM-8444, an IgM antibody targeting the Death Receptor 5 (DR5) protein, in patients with solid cancers and non-Hodgkin's lymphoma.

    The multicenter, open-label Phase 1 clinical trial will evaluate IGM-8444 intravenously administered as a monotherapy and in combination with chemotherapy in patients with relapsed and/or refractory solid cancers and non-Hodgkin's lymphoma. The key objectives of this trial are to provide an initial assessment of the pharmacokinetics…

    MOUNTAIN VIEW, Calif., Sept. 30, 2020 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (NASDAQ:IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced that the first patient has been dosed in its Phase 1 clinical trial evaluating IGM-8444, an IgM antibody targeting the Death Receptor 5 (DR5) protein, in patients with solid cancers and non-Hodgkin's lymphoma.

    The multicenter, open-label Phase 1 clinical trial will evaluate IGM-8444 intravenously administered as a monotherapy and in combination with chemotherapy in patients with relapsed and/or refractory solid cancers and non-Hodgkin's lymphoma. The key objectives of this trial are to provide an initial assessment of the pharmacokinetics, safety, biomarkers and preliminary efficacy of IGM-8444 both as a single agent and in combination with standard of care chemotherapy. IGM expects to report initial data from this Phase 1 trial in 2021.

    "The initiation of this clinical trial is another significant milestone in IGM's development, as it marks the second program from our proprietary IgM antibody platform to begin clinical development," said Fred Schwarzer, Chief Executive Officer of IGM Biosciences. "We believe that IgM antibodies have the potential to overcome some of the limitations of current IgG-based medicines and deliver new therapeutic options to patients with cancer and other serious diseases, and we hope to pursue a broad clinical development strategy for IGM-8444, including in combination with other targeted oncology drugs."

    "DR5 IgM antibodies have the capacity for multivalent binding of DR5 and are designed to more efficiently send an apoptotic signal to the cancer cell and enhance in vitro potency in killing cancer cells compared to IgG antibodies with the same binding units," said Johanna Bendell, M.D., Chief Development Officer, Director, Drug Development Program, Sarah Cannon Research Institute at Tennessee Oncology. "I look forward to working with the IGM team in their pursuit to fully elucidate the potential of this novel therapy."

    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 Statements

    This 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, the Company's IgM technology platform, its IgM antibodies and IGM-8444, statements regarding the Company's Phase 1 clinical trial of IGM-8444, statements regarding the Company's development strategy for IGM-8444, and statements by IGM's Chief Executive Officer. 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 advance product candidates into, and successfully complete, clinical trials on the timelines it projects; the risk that all necessary regulatory approvals cannot be obtained; IGM's ability to adequately demonstrate sufficient safety and efficacy of its product candidates; IGM's ability to enroll patients in its ongoing and future clinical trials; IGM's ability to successfully manufacture and supply its product candidates for clinical trials; 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; 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 26, 2020, IGM's Quarterly Report on Form 10-Q filed with the SEC on August 6, 2020 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 Partners

    David Pitts

    212-600-1902

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