IGM Biosciences up on collaboration with Sanofi

IGM Biosciences

29/03/2022 12:37

** Biotechnology firm IGM Biosciences Inc's shares  IGMS.O 
up 41.8% at $21.25 premarket
    ** IGMS and Sanofi  SASY.PA  enter collaboration agreement
to develop antibody medicines for treatment of cancer,
immunology and inflammatory diseases
    ** IGMS posts Q4 net loss of $50.6 mln, or $1.50 per share,
compared with net loss of $24.6 mln, or 79 cents per share, a
year ago
    ** Expects operating expenses of $250 mln to $260 mln in
2022
    ** Up to last close, stock had fallen ~49% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))