NASDAQ$IGMS
IGM Biosciences Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
IGM Biosciences reported financial results for Q3 2024 and provided a corporate update.
IGM Biosciences announced a strategic pivot to focus exclusively on autoimmunity during the third quarter. The company's cash runway is expected to fund operations into 2027. Clinical development of Imvotamab and IGM-2644 are underway.
- Strategic pivot to focus exclusively on autoimmunity was announced.
- Imvotamab trials in rheumatoid arthritis, systemic lupus erythematosus, and myositis are ongoing; initial clinical data is expected by mid-2025.
- IGM-2644 is expected to enter clinical study for generalized myasthenia gravis by year-end 2024.
- Cash runway is expected to fund operations into 2027.
Headline financials
Revenue & EPS history
IGM Biosciences · Revenue · Quarterly
$516K
Revenue by segment
IGM Biosciences · $2.68M total across 1 segment · Q4 2024
- Collaboration Revenue$2.68M—100.0%
Forward guidance
The Company expects full year 2024 GAAP operating expenses of $215 million to $225 million including estimated non-cash stock-based compensation expense of approximately $40 million, and full year collaboration revenue of approximately $2 million related to the Sanofi agreement. The Company expects to end 2024 with a balance of approximately $180 million in cash and investments and for the balance to enable it to fund its operating expenses and capital expenditure requirements into 2027.
Tailwinds
- Full year collaboration revenue of approximately $2 million related to the Sanofi agreement is expected.
- Cash balance is expected to fund operating expenses and capital expenditure requirements into 2027.
Headwinds
- Full year 2024 GAAP operating expenses of $215 million to $225 million are expected.
- Estimated non-cash stock-based compensation expense of approximately $40 million is expected.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports · overlaid with Q3 2024
+4.2%
Avg return
Earnings day
-6.5%
Avg return
5 days after
-4.3%
Avg return
30 days after
58%
14 / 24 earnings
Positive
+72.4%
Q4 2021
Best reaction
-20.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | +0.0% | +0.8% | — | |
| Q1 2025 | +4.2% | +1.7% | +3.4% | |
| Q4 2024 | -2.4% | -8.0% | +5.6% | |
| Q3 2024 | -10.4% | -21.9% | -27.9% | |
| Q2 2024 | +4.4% | +7.8% | +38.5% | |
| Q1 2024 | +1.9% | -7.2% | -17.3% | |
| Q4 2023 | +2.4% | -18.5% | -28.1% | |
| Q3 2023 | +7.3% | — | — | |
| Q2 2023 | -7.1% | — | — | |
| Q1 2023 | +6.7% | — | — | |
| Q4 2022 | -20.4% | — | — | |
| Q3 2022 | -9.9% | — | — | |
| Q2 2022 | +22.2% | — | — | |
| Q1 2022 | -7.5% | — | — | |
| Q4 2021 | +72.4% | — | — | |
| Q3 2021 | +15.9% | — | — | |
| Q2 2021 | +8.9% | — | — | |
| Q1 2021 | +10.9% | — | — | |
| Q4 2020 | +4.1% | — | — | |
| Q3 2020 | -4.2% | — | — | |
| Q2 2020 | -4.2% | — | — | |
| Q1 2020 | +5.6% | — | — | |
| Q4 2019 | -1.8% | — | — | |
| Q3 2019 | +1.2% | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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