IGM Biosciences Shares Down 69% Following Treatment Development Halt, Workforce Reduction

Dow Jones

10 Jan

By Denny Jacob

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.

The biotechnology company said its decision to halt development would pertain to imvotamab and IGM-2644. It also cut its staff by 73% and is exploring internal options and strategic alternatives to maximize shareholder value while it looks to conserve cash.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 10, 2025 06:20 ET (11:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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It also cut its staff by 73% and is exploring internal options and strategic alternatives to maximize shareholder value while it looks to conserve cash. \n</p>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 10, 2025 06:20 ET (11:20 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IGMS","symbol_name":"IGM Biosciences","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2502859368","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2502859368","pubTimestamp":1736508000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. 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The stock is up 1.5% on the year. \n\n\n  The biotechnology company said its decision to halt development would pertain to imvotamab and IGM-2644. It also cut its staff by 73% and is exploring internal options and strategic alternatives to maximize shareholder value while it looks to conserve cash. \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 10, 2025 06:20 ET (11:20 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1}}}