IGM ended September with 290 full-time employees.
How much money does a biotech need to feel comfortable in today’s market? IGM Biosciences added to evidence that the number is big after the market closed Tuesday, when it revealed a 22% reduction in its headcount and prioritization of its pipeline to make the hundreds of millions in its bank go further.
Talking at an investor event last month, IGM CEO Fred Schwarzer gave an upIGM Biosciencesa question about the biotech’s financial footing, telling attendees that it had “plenty of cash to get through into the second half of 2025.” The cash pile stood at $387 million at the end of September. Yet, while IGM has a bank balance to turn some biotechs green with envy, it has decided it needs to cut costs. IGM ended September with 290 full-time emIGMyees. The decision to reduce that figure by 22% is part of a set of changes intended to keep IGM going into the second quarter of 2026. Through the changes, IGM is focusing its resources on colorectal cancer and autoimmune diseases.IGM The biotech is halting work on two assets, the CD123xCD3 bispecific IGM-2537 and IL-15xPD-L1 candidate IGM-7354, and cutting the list of the indications targeted by two other molecules. Work on aplitabart in acute myeloid leukemia andcolorectal cancerith bautoimmune diseasesng, as is development of IGM-2644 in multiple myeloma. IGM will continue to study aplitabart, a DR5 agonist, in colorectal cancer, forging toward the goal of enrolling 110 patients in a randomized trial by the end of the first quarter of next year. Development of the CD38xCD3 bispecific IGM-2644 is continuing in autoimmune diseases. IGM aims to file to test the drug candidate in humans next year. Work on the CD20xCD3 bispecific imvotamab is continuing too.