IGM Biosciences to cut 73% of workforce

IGM Biosciences to cut 73% of workforce as latest pivot fails to pan out, sending stock down 69%
IGM Biosciences is again cutting staff as it scraps an autoimmune-drug trial after failing to achieve the desired results.
IGM Biosciences Shares Drop 68% as Company Halts Key Programs and Cuts Workforce
The company is reducing its workforce by 73% and evaluating strategic alternatives to preserve shareholder value.
IGM to slash 73% of workforce, halt two drug programs
IGM Biosciences (NASDAQ:IGMS) is slashing its workforce by 73% and discontinuing development of two of its lead drug candidates, imvotamab and IGM-2644, in the wake of disappointing data. The biotech company said it decided to halt further work on imvotamab due to disappointing Phase 1b results of the drug in the treatment of rheumatoid arthritis
IGM Biosciences Halts Antibody Therapies, Cuts Workforce
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IGM Biosciences Shares Down 69% Following Treatment Development Halt, Workforce Reduction
IGM Biosciences shares dived 69% in premarket trading a day after the company said it would halt development of two of its treatments. Shares were trading around $1.94. The stock is up 1.5% on the year.
IGM Biosciences cuts workforce, halts a couple of product developments
IGM Biosciences (NASDAQ:IGMS) announced that it is currently evaluating internal options as well as potential strategic alternatives. Under these changes, it will halt further development of imvotamab,
IGM Biosciences reducing workforce by 73%, evaluating strategic alternatives
IGM Biosciences (IGMS) announced a strategic update to halt further development of imvotamab, an IgM-based CD20 X CD3 bispecific antibody T
IGM Biosciences Provides Strategic Update on Autoimmunity Pipeline Programs
IGM Biosciences, Inc. (Nasdaq: IGMS), a biotechnology company committed to developing and delivering medicines to treat patients with autoimmune and inflammatory diseases, today announced a strategic update to halt further development of imvotamab,
IGM Biosciences (NASDAQ:IGMS) Given New $2.00 Price Target at Truist Financial
IGM Biosciences (NASDAQ:IGMS – Get Free Report) had its target price reduced by research analysts at Truist Financial from ...
IGM Bio plunges as Wall Street downgrades on portfolio shakeup
IGM Biosciences (NASDAQ:IGMS) lost nearly two-thirds of its value on Friday after the company abandoned two antibody-based ...
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IGM, Y-mAbs, Passage Bio and more telegraph staff cuts amid restructuring spree
Just two weeks into 2025, January is proving why it’s earned a reputation as the worst month for layoffs. | Just two weeks ...
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IGM Biosciences Lays Off 73% of Staff, Shrinks Pipeline
Staff cuts could leave IGM Biosciences with fewer than 55 employees. The company is also halting development of two ...
IGM’s autoimmune pivot backfires as top drug disappoints in testing
The biotech will stop developing two drugs and lay off nearly three-quarters of its staff after its lead therapy wasn’t as ...
IGM Biosciences Stock: Bad News With No Turnaround In Sight
IGM Biosciences has halted all oncology programs and faces a significant pipeline upheaval. Read why I maintain my Sell ...
IGM Biosciences (NASDAQ:IGMS) Given “Hold” Rating at Jefferies Financial Group
IGM Biosciences (NASDAQ:IGMS – Get Free Report)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies ...
Lupus Foundation of America2d
IGM Biosciences Halts Development of Two Investigational Treatments for People with Autoimmune and Inflammatory Diseases
IGM Biosciences announced the discontinuation of imvotamab and IGM-2644 for autoimmune and inflammatory diseases, including ...
IGM Biosciences upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded IGM Biosciences (IGMS) to Neutral from Underweight without a price target The firm says that with the company announcing ...