预约演示
IGM, with cash dipping below $390M, cuts headcount 22%, stops blood cancer work to stretch money
2023-12-06
蛋白降解靶向嵌合体财报
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.
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.
In a statement, Schwarzer said IGM is “very encouraged by the clinicIGM-2537reclinical data that we havIGM-7354ted for the programs” but is halting work in response to “the difficult conditions aplitabartitalacute myeloid leukemiatry.” The changes are intbirinapantarrow IGM’s focus on opportunities IGM-2644e momultiple myelomaproduce significant near-term value,” the CEO said.
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.
更多内容，请访问原始网站
文中所述内容并不反映新药情报库及其所属公司任何意见及观点，如有版权侵扰或错误之处，请及时联系我们，我们会在24小时内配合处理。
靶点
Eureka LS:
全新生物医药AI Agent 覆盖科研全链路，让突破性发现快人一步
立即开始免费试用!
智慧芽新药情报库是智慧芽专为生命科学人士构建的基于AI的创新药情报平台，助您全方位提升您的研发与决策效率。
立即开始数据试用!
智慧芽新药库数据也通过智慧芽数据服务平台，以API或者数据包形式对外开放，助您更加充分利用智慧芽新药情报信息。