IGM Biosciences Inc (NASDAQ: IGMS) is still up when compared to its listing price in September. Its gains have been anchored on a series of positive news both financial and in scientific developments. On the 7th of November, the stock released its Q3 results and they were impressive. The company announced that cash and cash equivalents in the quarter stood at $251.3 million. It also announced that in the quarter, R&D expenses stood at $8.3 million. Other expenses totaled to $2.4 million in the quarter. The net loss in the quarter stood at $10.2 million or an EPS of $2.14.
While announcing these results, the company also stated that, it had closed phase 1 clinical evaluation for IGM-2323. This is a treatment for patients suffering from refractory B cell NHL. The company stated that, it expects to give a report on the phase 1 trial in H2 of 2020.
Over the course of November, the company has made presentations to update investors on IGM-2323 and other issues. The first presentation was at the Stifel 2019 Healthcare conference on the 19th of November. This was followed by a presentation at the Jefferies 2019 London Healthcare conference on the 21st of November. Today, the company is presenting at the Piper Jaffray 31st annual healthcare conference in New York. Investors can follow this event on the company’s website. The company will also archive these webcasts and they will be visible on their website for three months after the presentations.
From a look at the price action, the company is up in early morning trading. At the time of writing, it was up by 1.11% to trade at $20.12.
About IGM Biosciences Inc
IGM Biosciences Inc is a biotech company that researches and develops engineered immunoglobulin antibodies. Its lead product is IGM-2323, a treatment for refractory B cell Non-Hodgkin’s lymphoma. The company is headquartered in Mountain View, California.