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Ngm Biopharmaceuticals (NGM)

NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and cancer. The Company leverages its biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable it to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. NGM aspires to operate one of the most productive research and development engines in the biopharmaceutical industry.

Company profile

Ticker
NGM
Exchange
Website
CEO
David Woodhouse
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
NGM Biopharmaceuticals Australia Pty Ltd. ...

NGM stock data

Press releases

From Benzinga Pro
NGM Bio Presents Updated Preliminary Findings from the Ongoing Phase 1b Dose Escalation Trial of NGM120 in Combination with Gemcitabine and Nab-paclitaxel in Patients with Metastatic Pancreatic Cancer at AACR Special Conference: Pancreatic Cancer
13 Sep 22
NGM120 is a novel antagonist antibody that binds GFRAL and inhibits GDF15 signaling for the potential treatment of cancerNGM120 has been well tolerated to date in patients in the Phase 1b combination cohort (NGM120 +
NGM Bio Presents Updated Preliminary Findings for a Subgroup of Patients with Advanced Prostate Cancer from the Ongoing Phase 1a Dose Escalation Trial of NGM120 in Patients with Advanced Solid Tumors at the ESMO Annual Congress
6 Sep 22
NGM120 is a novel antagonist antibody that binds GFRAL and inhibits GDF15 signaling for the potential treatment of cancerNGM120 has been well tolerated to date in patients in the Phase 1a study with no dose-limiting
NGM Bio Announces Presentations Featuring Updated Findings from the Ongoing Phase 1a Dose Escalation Trial of NGM120 in Patients with Advanced Solid Tumors at the European Society of Medical Oncology (ESMO) Annual Congress and the Ongoing Phase 1b Trial of NGM120 in Patients with Advanced Pancreatic Cancer at the American Association for Cancer Research (AACR) Special Conference: Pancreatic Cancer
15 Aug 22
Poster presentation at upcoming ESMO Annual Congress to highlight analysis of subgroup of patients with prostate cancer in NGM120 Phase 1a trialShort-talk presentation at upcoming AACR Special Conference: Pancreatic

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 64.88M 64.88M 64.88M 64.88M 64.88M 64.88M
Cash burn (monthly) 15.5M 3M 15.69M 11.32M 16.72M 9.47M
Cash used (since last report) 47.39M 9.18M 47.98M 34.63M 51.12M 28.94M
Cash remaining 17.49M 55.7M 16.9M 30.25M 13.76M 35.93M
Runway (months of cash) 1.1 18.6 1.1 2.7 0.8 3.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Nolan Mangini Siobhan Stock Option Common Stock Grant Acquire A No No 12.78 100,000 1.28M 100,000
9 Jun 22 David V Goeddel Common Stock Buy Acquire P Yes No 13.5 32,477 438.44K 90,442
9 Jun 22 David V Goeddel Common Stock Buy Acquire P Yes No 13.5 951,684 12.85M 2,650,177
9 Jun 22 Column Group L P Common Stock Buy Acquire P Yes No 13.5 32,477 438.44K 90,442
9 Jun 22 Column Group L P Common Stock Buy Acquire P Yes No 13.5 951,684 12.85M 2,650,177
9 Jun 22 Column Group L P Common Stock Buy Acquire P Yes No 13.5 32,477 438.44K 90,442
9 Jun 22 Column Group L P Common Stock Buy Acquire P Yes No 13.5 951,684 12.85M 2,650,177
2 Jun 22 David V Goeddel Common Stock Buy Acquire P Yes No 13.0333 1,129 14.71K 57,965
2 Jun 22 David V Goeddel Common Stock Buy Acquire P Yes No 13.0333 33,071 431.02K 1,698,493
13F holders Current Prev Q Change
Total holders 125 117 +6.8%
Opened positions 24 14 +71.4%
Closed positions 16 22 -27.3%
Increased positions 50 38 +31.6%
Reduced positions 28 40 -30.0%
13F shares Current Prev Q Change
Total value 944.61M 1.12B -15.9%
Total shares 65.61M 66.25M -1.0%
Total puts 0 1K EXIT
Total calls 121.1K 3.4K +3461.8%
Total put/call ratio 0.3
Largest owners Shares Value Change
Column 18.14M $232.51M +11.6%
Column Group L P 11.2M $146.09M 0.0%
BLK Blackrock 3.87M $49.65M +36.4%
Rho Ventures V 3.77M $114.11M 0.0%
Vanguard 3.4M $43.63M +12.9%
Topspin Fund 3.32M $77.67M 0.0%
FMR 2.06M $26.42M +61.8%
StepStone 1.57M $20.17M 0.0%
Point72 Asset Management 1.32M $16.93M -58.9%
Ponoi Management 1.3M $16.65M 0.0%
Largest transactions Shares Bought/sold Change
Rho Capital Partners 0 -3.77M EXIT
Column 18.14M +1.89M +11.6%
Point72 Asset Management 1.32M -1.89M -58.9%
BLK Blackrock 3.87M +1.03M +36.4%
BVF 0 -955K EXIT
Rubric Capital Management 797.59K +797.59K NEW
FMR 2.06M +787.35K +61.8%
Vanguard 3.4M +388.73K +12.9%
Jacobs Levy Equity Management 0 -351.94K EXIT
Woodline Partners 134.19K -336.85K -71.5%

Financial report summary

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Risks
  • We have incurred net losses every year since our inception and have no source of product revenue. We expect to continue to incur significant and increasing operating losses and may never become profitable.
  • All of our revenue for recent periods has been received from a single collaboration partner, and that revenue will be substantially lower going forward as compared to historical periods.
  • We will need significant additional capital to proceed with development and commercialization of our current and potential future product candidates and our other operations. We may not be able to access sufficient capital on acceptable terms, if at all, and, as a result, we may be required to delay, scale back or discontinue development of such product candidates.
  • Raising additional capital may cause dilution to our existing stockholders, lead to restrictions on our operations or require us to relinquish rights to our product candidates or intellectual property.
  • We may depend in the future on collaborations with third parties other than Merck for the development and commercialization of our product candidates and for revenue. If those collaborations are not successful, we may not be able to capitalize on the market potential of our product candidates.
  • We rely completely on CMOs for the manufacture of our product candidates, and we are subject to many manufacturing risks, any of which could substantially increase our costs and limit supply of our product candidates and any future products.
  • We have no experience in sales, marketing and distribution and may have to enter into agreements with third parties to perform these functions, which could prevent us from successfully commercializing our product candidates.
  • The COVID-19 pandemic continues to adversely impact our business and operations, as well as the businesses or operations of our manufacturers, CROs and other third parties with whom we conduct business. Our business could be materially and adversely affected in the future by the effects of other disease outbreaks, epidemics and pandemics, including by the evolving effects of the COVID-19 pandemic.
  • Our product candidates must undergo rigorous clinical trials before seeking regulatory approvals, and clinical trials may be delayed, suspended or terminated at any time for many reasons, any of which could delay or prevent regulatory approval and, if approval is granted, commercialization of our product candidates.
  • If clinical trials of our product candidates fail to produce positive results or to demonstrate safety and efficacy to the satisfaction of the FDA or comparable health authorities, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of our product candidates.
  • Success in preclinical studies or earlier-stage clinical trials may not be indicative of results in future clinical trials.
  • Our product candidates may cause undesirable side effects or adverse events or have other properties or safety risks, which could delay or prevent continued clinical development or their regulatory approval or limit the commercial profile of any approved label.
  • Aldafermin is a modified version of a human hormone that has been associated with liver cancer in rodent testing.
  • We may not successfully identify new product candidates to expand our development pipeline.
  • We may fail to select or capitalize on the most scientifically, clinically and commercially promising or profitable product candidates.
  • We must attract and retain highly skilled employees in order to succeed. If we are not able to retain our current senior management team, especially our Chief Scientific Officer, Dr. Jin-Long Chen, or to continue to attract and retain qualified scientific, technical and business personnel, our business will suffer.
  • We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than us.
  • We may encounter difficulties in managing our growth, which could adversely affect our operations.
  • Our product candidates may not achieve adequate market acceptance among physicians, patients, healthcare payors and others in the medical community necessary for commercial success.
  • Even if we obtain approval to market our products, these products may become subject to unfavorable pricing regulations, reimbursement practices from third-party payors or healthcare reform initiatives in the United States and abroad, which could harm our business.
  • The advancement of healthcare reform may negatively impact our ability to profitably sell our product candidates, if approved.
  • Our international operations may expose us to business, regulatory, political, operational, financial, pricing and reimbursement risks associated with doing business outside of the United States.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.
  • Our relationships with healthcare providers, customers and third-party payors will be subject to applicable anti-kickback, fraud and abuse, transparency and other healthcare laws and regulations, which, if violated, could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm, administrative burdens and diminished profits and future earnings.
  • The regulatory approval processes of the FDA and comparable foreign health authorities are lengthy and inherently unpredictable. Our inability to obtain regulatory approval for our product candidates would substantially harm our business.
  • Our failure to obtain health authority approval in international jurisdictions would prevent us from marketing our product candidates outside the United States.
  • Even if our product candidates receive regulatory approval, they may still face future development and regulatory difficulties.
  • Even if we are able to obtain regulatory approvals for any of our product candidates, if they exhibit harmful side effects after approval, our regulatory approvals could be revoked or otherwise negatively impacted.
  • Our success depends in significant part upon our ability to obtain and maintain intellectual property protection for our products and technologies.
  • We may be unable to obtain intellectual property rights or technologies necessary to develop and commercialize our product candidates.
  • We could lose the ability to continue the development and commercialization of our products or product candidates if we breach any license agreement related to those products or product candidates.
  • We may become involved in lawsuits or other proceedings to protect or enforce our intellectual property, which could be expensive, time-consuming and unsuccessful and have a material adverse effect on the success of our business.
  • Third parties may initiate legal proceedings against us alleging that we infringe their intellectual property rights or we may initiate legal proceedings against third parties to challenge the validity or scope of the third-party intellectual property rights, the outcome of which would be uncertain and could have a material adverse effect on the success of our business.
  • The market price of our common stock has been and may continue to be volatile, and you could lose all or part of your investment.
  • Because of potential volatility in our trading price and trading volume, we may incur significant costs from class action securities litigation.
  • Our principal stockholders, including entities affiliated with The Column Group, Merck and management, own a substantial percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
  • An active trading market for our common stock may not be sustained and sales of a substantial number of shares of our common stock in the public market could cause our stock price to fall.
  • We do not intend to pay dividends on our common stock so any returns will be limited to the value of our stock.
  • Some provisions of our charter documents, Delaware law and our agreement with Merck may have anti-takeover effects or could otherwise discourage an acquisition of us by others, even if an acquisition would benefit our stockholders, and may prevent attempts by our stockholders to replace or remove our current management.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and the federal district courts of the United States will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • We, our CROs, our CMOs, our current and potential future partners and other third parties we rely on or partner with could experience a cybersecurity incident that could harm our business.
  • The withdrawal of the United Kingdom from the EU, commonly referred to as Brexit, could increase our cost of doing business, reduce our gross margins or otherwise negatively impact our business and our financial results.
  • We are subject to rapidly changing and increasingly stringent foreign and domestic laws and regulations relating to privacy, data protection and information security. The restrictions imposed by these requirements or our actual or perceived failure to comply with them could harm our business.
  • We use and generate materials that may expose us to material liability.
  • Our operations are vulnerable to interruption by fire, earthquake, power loss, telecommunications failure, terrorist activity and other events beyond our control, which could harm our business.
  • Our ability to use net operating loss carryforwards to offset taxable income could be limited.
  • New tax laws or regulations, changes to existing tax laws or regulations or changes in their application to us or our customers may have a material adverse effect on our business, cash flows, financial condition or results of operations.
  • Future changes in financial accounting standards or practices may cause adverse and unexpected revenue fluctuations and adversely affect our reported results of operations.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, our stock price and trading volume could decline.
Management Discussion
  • Revenue decreased $8.5 million and $9.1 million in the three and six months ended June 30, 2022, respectively, compared to the same periods in 2021 primarily due to a decrease in R&D revenue under the Amended Collaboration Agreement with Merck.
  • Under the Amended Collaboration Agreement, from April 1, 2022 until March 31, 2024, Merck will provide up to $20.0 million of R&D funding for the ophthalmology programs (other than NGM621), the CVM-related programs and the Lab Programs. If the parties mutually agree to extend the research phase for the CVM-related programs from March 31, 2024 to March 31, 2026, then Merck will provide up to a total of $20.0 million in R&D funding during the additional two years of the CVM program research phase. Merck will also fund certain R&D costs related to NGM621 in an amount expected to be up to approximately $20.0 million, until the earlier of Merck's decision to exercise, or not to exercise, its License Option with respect to NGM621 alone or bundled with the other continuing ophthalmology compounds or, March 31, 2024. In this regard, our related party revenue from Merck has decreased substantially in 2022 compared to 2021 and is expected to continue to remain at a significantly lower level through March 31, 2024.
  • Due to the nature of our collaboration with Merck and the timing of related revenue recognition, our revenue has fluctuated from period to period in the past and we expect that it will continue to fluctuate during the remainder of the collaboration.

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New words: adequacy, aptamer, avacincaptad, bio, conference, freely, hemorrhage, Iveric, lesion, mCRPC, monthly, NDA, occupy, PDUFA, pegol, PEGylated, prostate, reevaluated, resubmit, sublease, User, warranted, Zimura

Patents

Utility
HTRA1-BINDING Agents and Methods of Use Thereof
11 Aug 22
The present disclosure provides binding agents, such as antibodies, that specifically bind HTRA1, including human HTRA1, as well as compositions comprising the binding agents, and methods of their use.
Utility
Methods and Uses for Modulating Bile Acid Homeostasis and Treatment of Bile Acid Disorders and Diseases
4 Aug 22
Provided herein are methods of modulating bile acid homeostasis or treating a bile-acid related or associated disorder, comprising using variants and fusions of fibroblast growth factor 19 (FGF19), variants and fusions of fibroblast growth factor 21 (FGF21), fusions of FGF19 and/or FGF21, and variants or fusions of FGF19 and/or FGF21 proteins and peptide sequences (and peptidomimetics), in combination with agents effective in modulating bile acid homeostasis or treating a bile-acid related or associated disorder.
Utility
Compositions and methods of use for treating metabolic disorders
14 Jun 22
Methods of treating individuals with a glucose metabolism disorder and/or a body weight disorder, and compositions associated therewith, are provided.
Utility
C3-BINDING Agents and Methods of Use Thereof
21 Apr 22
The present disclosure provides binding agents, such as antibodies (including single chain variable fragments), that specifically bind complement component C3, including human C3, compositions comprising same, and methods of their use.
Utility
Methods of Using Compositions Comprising Variants and Fusions of FGF19 Polypeptides for Treatment of Metabolic Disorders and Diseases
24 Mar 22
The invention relates to variants and fusions of fibroblast growth factor 19 (FGF19), variants and fusions of fibroblast growth factor 21 (FGF21), fusions of fibroblast growth factor 19 (FGF19) and/or fibroblast growth factor 21 (FGF21), and variants or fusions of fibroblast growth factor 19 (FGF19) and/or fibroblast growth factor 21 (FGF21) proteins and peptide sequences (and peptidomimetics), having one or more activities, such as glucose lowering activity, and methods for and uses in treatment of hyperglycemia and other disorders.