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 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 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 to slash 73% of workforce, halt two drug programs
IGM Biosciences (IGMS) is slashing its workforce by 73% and discontinuing development of two of its lead drug candidates in the wake of disappointing drug data. Read more here.
IGM Biosciences Halts Development Of Imvotamab, IGM-2644; To Lay Off 73% Of Workforce
Thursday announced a strategic update to halt further development of imvotamab, an IgM-based CD20 X CD3 bispecific antibody T cell engager, and IGM-2644, an IgM-based CD38 X CD3 bispecific antibody T cell engager,
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 ...
BioSpace10h
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 ...
FierceBiotech7h
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 ...
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 ...
GlobalData on MSN13h
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 price target lowered to $2 from $12 at Truist
Truist analyst Asthika Goonewardene lowered the firm’s price target on IGM Biosciences (IGMS) to $2 from $12 and keeps a Hold rating on the ...
Lupus Foundation of America12h
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 ...
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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 ...