Core Viewpoint - IGM Biosciences, Inc. has entered into a definitive merger agreement with Concentra Biosciences, LLC, where Concentra will acquire IGM Biosciences for $1.247 in cash per share, along with contingent value rights [1][2] Group 1: Merger Agreement Details - The acquisition price includes $1.247 in cash per share of IGM Biosciences common stock and one non-tradeable contingent value right (CVR) [1] - The CVR entitles holders to receive 100% of IGM Biosciences' closing net cash exceeding $82.0 million and 80% of net proceeds from the disposition of certain product candidates and intellectual property within one year post-closing [1] - The IGM Biosciences Board of Directors has unanimously approved the merger agreement, deeming it in the best interests of all stockholders [2] Group 2: Tender Offer and Closing Conditions - Concentra will initiate a tender offer by July 16, 2025, to acquire all outstanding shares of IGM Biosciences common stock [3] - The closing of the tender offer is contingent upon the tender of voting common stock representing at least a majority of outstanding shares and the availability of at least $82.0 million in cash [3] - The merger transaction is anticipated to close in August 2025, subject to customary closing conditions [3] Group 3: Legal Advisors - Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel for IGM Biosciences, while Gibson, Dunn & Crutcher LLP is acting as legal counsel for Concentra [4]

For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 IGM Biosciences, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 77-0349194 | | --- | --- | | (State or other ju ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39045 IGM Biosciences, Inc. (Exact name of Registrant as specified in its Charter) Delaware 77-0349194 (State or ot ...

Wall Street expects a year-over-year increase in earnings on lower revenues when IGM Biosciences, Inc. (IGMS) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the ...

A downtrend has been apparent in IGM Biosciences, Inc. (IGMS) lately with too much selling pressure. The stock has declined 76.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicator ...

IGMS STOCK ALERT: Levi & Korsinsky Notifies IGM Biosciences, Inc. Investors of an Ongoing Investigation ...

Strategic Updates and Restructuring - The company announced a strategic update to halt further development of imvotamab and IGM-2644, resulting in an approximately 73% reduction in force to preserve cash[6] - The company is unable to estimate the costs and charges associated with the 2025 Restructuring at this time and will file an amendment once determined[7] Evaluation of Strategic Alternatives - The company is evaluating internal options and potential strategic alternatives to maximize shareholder value[8]

Strategic Update - The company has decided to halt further development of imvotamab (CD20 x CD3) and IGM-2644 (CD38 x CD3) due to insufficient B cell depletion in Phase 1b studies for rheumatoid arthritis and systemic lupus erythematosus [1][2] - The decision to discontinue these programs is based on strategic considerations and the inability to meet the high bar for success in autoimmune disease treatment [2] Workforce Reduction - The company is implementing a significant workforce reduction of approximately 73% to preserve cash [2] - This reduction is part of the company's broader strategy to maximize shareholder value while evaluating internal options and potential strategic alternatives [2] Financial Position - As of December 31, 2024, the company reported cash and investments of approximately $183.8 million (unaudited) [1][2] - The company is taking immediate steps to preserve cash, including the workforce reduction, as it evaluates strategic alternatives [2] Company Overview - IGM Biosciences is a biotechnology company focused on developing and delivering medicines for autoimmune and inflammatory diseases [3] - The company has an exclusive worldwide collaboration agreement with Sanofi to develop IgM antibody agonists targeting immunology and inflammation [3]

Earnings Performance - IGM Biosciences reported a quarterly loss of $1.01 per share, missing the Zacks Consensus Estimate of a loss of $0.82, representing an earnings surprise of -23.17% [1] - The company's loss per share improved slightly from $1.04 a year ago [1] - In the previous quarter, the company posted a loss of $0.79 per share, significantly missing the expected earnings of $0.03 per share, resulting in a surprise of -2,733.33% [1] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [2] Revenue Performance - IGM Biosciences reported revenues of $0.52 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 123.38% [2] - This represents a slight increase from year-ago revenues of $0.51 million [2] - The company has topped consensus revenue estimates just once over the last four quarters [2] Stock Performance and Market Comparison - IGM Biosciences shares have gained approximately 72.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 25.2% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Earnings Outlook and Estimate Revisions - The current consensus EPS estimate for the coming quarter is -$0.75 on $0.17 million in revenues [7] - For the current fiscal year, the consensus EPS estimate is -$3.17 on $2.05 million in revenues [7] - The estimate revisions trend for IGM Biosciences is mixed, resulting in a Zacks Rank 3 (Hold) [6] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5] Industry Context - IGM Biosciences operates in the Zacks Medical - Biomedical and Genetics industry, which is currently in the top 35% of the 250 plus Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - Cyclo Therapeutics, Inc (CYTH), another company in the same industry, is expected to report a quarterly loss of $0.17 per share, representing a year-over-year improvement of +41.4% [9] - Cyclo Therapeutics' revenues are expected to be $0.31 million, down 38% from the year-ago quarter [9]

Financial Performance - Cash and investments as of September 30, 2024 were $218.8 million, compared to $337.7 million as of December 31, 2023[6] - Collaboration revenue for the third quarter of 2024 was $0.5 million, unchanged from the third quarter of 2023[6] - Research and Development (R&D) expenses for the third quarter of 2024 were $46.1 million, compared to $54.8 million for the third quarter of 2023[6] - General and Administrative (G&A) expenses for the third quarter of 2024 were $18.8 million, compared to $12.5 million for the third quarter of 2023[6] - Net loss for the third quarter of 2024 was $61.4 million, or a loss of $1.01 per share, compared to a net loss of $62.0 million, or a loss of $1.04 per share, for the third quarter of 2023[6] - 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[7] - The Company expects to end 2024 with a balance of approximately $180 million in cash and investments, enabling it to fund operations into 2027[7] Clinical Development and Milestones - Initial clinical data for imvotamab in rheumatoid arthritis, systemic lupus erythematosus, and myositis is expected by mid-2025[3] - IGM-2644 is expected to enter a clinical study for generalized myasthenia gravis by the end of 2024[4] - The Company has successfully completed the third dose cohort in its placebo-controlled clinical study testing imvotamab in severe rheumatoid arthritis[3]