Q1 net loss narrows to $49.8M; aplitabart colorectal trial enrollment exceeds target

IGM Biosciences, Inc.

2024-Q1 EPS reported -$0.83

Net loss $49.8M ($0.83/share) vs $59.3M ($1.33/share) in Q1 2023; operating expenses decreased.
Cash and investments $293.8M at March 31, 2024, down from $337.7M at Dec 31, 2023.
Aplitabart randomized colorectal trial enrollment exceeded target of 110 patients, now over 120; top-line PFS data expected by Q1 2025.
Imvotamab completed first dose cohort in rheumatoid arthritis (6 active, 2 placebo); two higher-dose cohorts planned.
FY 2024 guidance: GAAP OpEx $210-220M; collaboration rev ~$63M (mostly Q2); cash runway into Q2 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IGM Biosciences, Inc. reported the fiscal quarter ended March 31, 2024 results: net income $49.8 million, or a loss of $0.83 per share, EPS $0.83 per share.

Period: the fiscal quarter ended March 31, 2024
Net income: $49.8 million, or a loss of $0.83 per share
EPS: $0.83 per share
Result: reported results

Exact text from the filing

For the first quarter of 2024, net loss was $49.8 million, or a loss of $0.83 per share, compared to a net loss of $59.3 million, or a loss of $1.33 per share, for the first quarter of 2023.

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Source: SEC EDGAR

accession 0000950170-24-055654

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