Published on 8 May 2024 on GuruFocus.com via Yahoo Finance
IGM Biosciences Inc (IGMS) Q1 2024 Earnings: Aligns with EPS Projections Amidst Clinical ...
Revenue: Reported Q1 2024 collaboration revenue of $0.5 million, falling short of the estimated $0.76 million.Net Loss: Q1 2024 net loss stood at $49.8 million, or -$0.83 per share, slightly above the estimated net loss of $50.28 million and EPS of -$0.83.R&D Expenses: Research and Development expenses decreased to $43.8 million in Q1 2024 from $50.9 million in Q1 2023.G&A Expenses: General and Administrative expenses reduced to $10.5 million in Q1 2024 from $13 million in the same quarter the previous year.Cash Position: Cash and investments as of March 31, 2024, were $293.8 million, down from $337.7 million at the end of 2023.2024 Financial Guidance: Expects full-year 2024 GAAP operating expenses between $210 million to $220 million and collaboration revenue of approximately $63 million.Future Outlook: Anticipates ending 2024 with approximately $180 million in cash and investments, sufficient to fund operations into the second quarter of 2026.
Warning! GuruFocus has detected 2 Warning Signs with IGMS.