IGM Biosciences to cut 73% of workforce

IGM Biosciences to cut 73% of workforce as latest pivot fails to pan out
IGM Biosciences is again cutting staff as it scraps an autoimmune-drug trial after failing to achieve the desired results.
IGM Biosciences Halts Antibody Therapies, Cuts Workforce
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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 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 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 lupus.
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 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 ...
BioSpace13h
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 ...
GlobalData on MSN17h
IMG Biosciences enacts massive lay-offs after Phase I trial failure
Following the negative Phase I trial outcome for its autoimmune disease treatment, the company is cutting 73% of jobs.
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 ...
IGM Bio plunges as Wall Street downgrades on portfolio shakeup
IGM Biosciences (IGMS) stock faces sharp selloff as the company abandons two therapeutic candidates, triggering Wall Street ...
FierceBiotech11h
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 ...
The Armenian Reporter11h
Jefferies Financial Group Reiterates “Hold” Rating for IGM Biosciences (NASDAQ:IGMS)
IGM Biosciences (NASDAQ:IGMS – Get Free Report)‘s stock had its “hold” rating reiterated by Jefferies Financial Group in a ...
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BMO Capital Downgrades IGM Biosciences (IGMS)
Fintel reports that on January 10, 2025, BMO Capital downgraded their outlook for IGM Biosciences (NasdaqGS:IGMS) from ...