IGM Biosciences(US:IGMS)2024-08-14 11:00Clinical Trials Progress - Enrollment completed in randomized colorectal cancer clinical trial with 127 patients, exceeding the target of 110 patients[3] - Top-line PFS results from the aplitabart colorectal cancer trial expected by the end of Q1 2025[3] - First and second dose cohorts in imvotamab rheumatoid arthritis trial successfully completed, with third cohort currently enrolling[4] - First dose cohort in imvotamab systemic lupus erythematosus trial completed, with second cohort enrolling[4] Financial Performance - Cash and investments as of June 30, 2024, were $256.4 million, down from $337.7 million as of December 31, 2023[7] - Q2 2024 collaboration revenue was $1.3 million, up from $0.4 million in Q2 2023[7] - Q2 2024 R&D expenses were $42.0 million, down from $55.7 million in Q2 2023[7] - Q2 2024 net loss was $47.9 million, or $0.79 per share, compared to a net loss of $64.4 million, or $1.43 per share, in Q2 2023[7] Financial Outlook - Full-year 2024 GAAP operating expenses expected to be $210 million to $220 million, with collaboration revenue of approximately $2 million[8] - Company expects to end 2024 with approximately $180 million in cash and investments, funding operations into Q2 2026[8]