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IGM Biosciences, Inc. (NASDAQ:IGMS) has a strong pipeline of clinical candidates, including imvotamab, a CD20 X CD3 bispecific T cell engaging antibody for autoimmune disorders. The company is currently conducting two phase 1b studies using imvotamab to treat patients with severe systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA), with initial results expected in the second half of 2024. IGM Biosciences has also received clearance to initiate an early-stage study using imvotamab for the treatment of patients with idiopathic inflammatory myopathies. Additionally, the company is working on a candidate called Aplitabart for the treatment of patients with metastatic colorectal cancer. Enrollment for both studies is expected to be completed in the first half of 2024, with data released in the second half of 2024. With multiple catalysts and the advancement of next generation candidates, IGM Biosciences presents potential opportunities for investors.
Imvotamab is being studied in two early-stage phase 1b trials for the treatment of SLE and RA. The SLE trial is an open-label, single-arm study with a total of 18 patients, while the RA trial is a double-blind placebo-controlled study with 24 patients. Both trials incorporate a sequential dose-escalation cohort design. SLE is a chronic autoimmune disorder that affects various organs and tissues, and the global market for lupus is projected to reach $6.78 billion by 2032. RA is a chronic inflammatory autoimmune disorder that primarily affects joints, and the global market for RA drugs is projected to reach $38.61 billion by 2032.
IGM Biosciences’ unique pentameric IgM structure allows for greater binding across multiple points of the target, providing improved avidity and affinity compared to IgG antibodies. The company’s J-chain design enables the use of bi-specifics, such as CD20 X CD3, which may offer advantages over other antibody-based candidates in development. IGM Biosciences has clearance to begin early-stage phase 1 testing for idiopathic inflammatory myositis using imvotamab, and there is potential for the development of other bi-specifics to target different B-cell mediated autoimmune disorders.
IGM Biosciences had cash and investments of $387 million as of September 30th, 2023. The company entered into a deal with Sanofi in March 2022, receiving $150 million upfront and the potential to earn over $6 billion in milestones. With its current cash position, IGM Biosciences expects to fund its operations into the second half of 2025. The company has made pipeline reprioritization and workforce reduction to focus on its core areas of focus.
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