IGM Biosciences, Inc.: restructuring charge — IGM Biosciences estimates $11.7M-$14.4M in restructuring charges for strategic pivot

IGM Biosciences, Inc.

Total restructuring charges estimated between $11.7M and $14.4M.
Cash costs: $3.4M to $5.7M for severance and termination; $0.1M to $0.3M for contract termination.
Non-cash stock-based compensation: $8.2M to $8.4M.
Substantially all charges expected in Q3 2024; restructuring complete by Q2 2025.
Amends Oct 3, 2024 8-K disclosing shift away from aplitabart and oncology R&D.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

IGM Biosciences, Inc. announced a restructuring with charges of total restructuring charges between $11.7 million and $14.4 million.

Type: restructuring
Charge: total restructuring charges between $11.7 million and $14.4 million

Exact text from the filing

As a result of the 2024 Restructuring, the Company estimates it will incur total restructuring charges between $11.7 million and $14.4 million

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Source: SEC EDGAR

accession 0000950170-24-123677

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