Company profile

Ticker
IGMS
Exchange
Website
CEO
Fred M. Schwarzer
Employees
Incorporated in
Location
Fiscal year end
Former names
Palingen, Inc.
SEC CIK
IRS number
770349194

IGMS stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 Nov 19
28 Jan 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Sep 18
Net income -10.17M -10.68M -7.47M -6.52M
Diluted EPS -2.41 -14.88
Operating income -10.67M -6.55M
Cash on hand 193.68M 3.2M

Financial data from company earnings reports

32.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 33 0 +Infinity%
Opened positions 33 0 +Infinity%
Closed positions 0 0 NaN%
Increased positions 0 0 NaN%
Reduced positions 0 0 NaN%
13F shares
Current Prev Q Change
Total value 177.95M 0 +Infinity%
Total shares 10.03M 0 +Infinity%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Redmile 3.14M $55.81M NEW
Baker Bros. Advisors 3.14M $55.81M NEW
N Price T Rowe Associates 815.28K $14.47M NEW
JHG Janus Henderson 526.53K $9.35M NEW
Ra Capital Management 466.37K $8.28M NEW
Hillhouse Capital Advisors 350K $6.21M NEW
Millennium Management 253.79K $4.5M NEW
Deerfield Management 250K $4.44M NEW
Artal 200K $3.55M NEW
Cormorant Asset Management 156.4K $2.78M NEW
Largest transactions
Shares Bought/sold Change
Redmile 3.14M +3.14M NEW
Baker Bros. Advisors 3.14M +3.14M NEW
N Price T Rowe Associates 815.28K +815.28K NEW
JHG Janus Henderson 526.53K +526.53K NEW
Ra Capital Management 466.37K +466.37K NEW
Hillhouse Capital Advisors 350K +350K NEW
Millennium Management 253.79K +253.79K NEW
Deerfield Management 250K +250K NEW
Artal 200K +200K NEW
Cormorant Asset Management 156.4K +156.4K NEW

Financial report summary

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Risks
  • The use of engineered IgM antibodies is a novel and unproven therapeutic approach and our development of IGM-2323, our DR5 IgM antibody and our discovery programs may never lead to a marketable product.
  • Clinical trials are expensive, time consuming and difficult to design and implement and may fail to demonstrate adequate safety and efficacy of our product candidates. Furthermore, the results of previous preclinical studies and clinical trials may not be predictive of future results, and the results of our current and planned clinical trials may not satisfy the requirements of the FDA or comparable foreign regulatory authorities or provide the basis for regulatory approval.
  • If we experience delays or difficulties in the enrollment of patients in clinical trials, including as a result of competition for patients, we will be unable to complete these trials on a timely basis, if at all.
  • Our product candidates may have undesirable side effects that may delay or prevent marketing approval or, if approval is received, require them to be taken off the market, require them to include new safety warnings, contraindications or precautions, or otherwise limit their sales. No regulatory agency has made a determination that any of our product candidates are safe or effective for use by the general public for any indication.
  • We face significant competition from entities that have developed or may develop product candidates for the treatment of diseases that we are initially targeting, including companies developing novel treatments and technology platforms. If our competitors develop and market products that are more effective, safer or less expensive than our product candidates, our commercial opportunities will be negatively impacted.
  • The manufacturing of our product candidates is complex. We and our third-party manufacturers may encounter difficulties in production. If we encounter any such difficulties, our ability to supply our product candidates for clinical trials or, if approved, for commercial sale, could be delayed or halted entirely.
  • We may expend our limited resources to pursue product candidates or indications that do not yield a successful product and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • Our future success depends on our ability to retain key executives and to attract, retain and motivate qualified personnel.
  • The design or execution of our future clinical trials may not support regulatory approval.
  • Even if any of our product candidates receive regulatory approval, the approved products may not achieve broad market acceptance among physicians, patients, the medical community and third-party payors, in which case revenue generated from their sales would be limited.
  • If we decide to seek orphan drug designation for one or more of our product candidates, we may be unsuccessful or may be unable to maintain the benefits associated with orphan drug designation for IGM-2323, our DR5 IgM antibody or future product candidates that we may develop. If our competitors are able to obtain orphan product exclusivity for their products in specific indications, we may not be able to have competing products approved in those indications by the applicable regulatory authority for a significant period of time.
  • Reimbursement decisions by third-party payors may have an adverse effect on pricing and market acceptance. If reimbursement is not available or is not sufficient for our products, it is less likely that our products will be widely used.
  • If the market opportunities for any product that we develop are smaller than we believe they are, our revenue may be adversely affected and our business may suffer.
  • If any product liability lawsuits are successfully brought against us, we may incur substantial liabilities and may be required to limit commercialization of our product candidates.
  • Our product candidates, for which we intend to seek approval, may face competition sooner than anticipated.
  • Acquisitions or joint ventures could increase our capital requirements, disrupt our business, cause dilution to our stockholders, cause us to incur debt or assume contingent liabilities and otherwise harm our business.
  • Foreign governments tend to impose strict price controls, which may adversely affect our future profitability.
  • We will need to grow our organization, and we may experience difficulty in managing this growth, which could disrupt our operations.
  • Security breaches, loss of data and other disruptions could compromise sensitive information related to our business or protected health information or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • Current and future legislation may increase the difficulty and cost for us to commercialize our product candidates, if approved, and affect the prices we may obtain.
  • Our business may become subject to economic, political, regulatory and other risks associated with international operations.
  • If we do not comply with laws regulating the protection of the environment and health and human safety, our business could be adversely affected.
  • Business disruptions could seriously harm our business and financial condition and increase our costs and expenses.
  • Risks Related to Our Financial Position and Need for Additional Capital
  • Drug development is a highly speculative undertaking and involves a substantial degree of uncertainty. We have never generated any revenue from product sales and may never be profitable. Our ability to generate revenue and achieve profitability depends significantly on our ability to achieve a number of objectives.
  • We will require substantial additional funding to finance our operations, which may not be available to us on acceptable terms, or at all, and, if not available, may require us to delay, scale back or cease our product development programs or operations.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish substantial rights.
  • Unstable market and economic conditions may have serious adverse consequences on our business and financial condition.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • Changes in the U.S. taxation of international business activities or the adoption of other tax reform policies could materially impact our business, results of operations and financial condition.
  • Risks Related to Our Dependence on Third Parties
  • Future strategic partnerships may be important to us. We will face significant competition in seeking new strategic partners.
  • If we are unable to maintain future strategic partnerships, or if these strategic partnerships are not successful, our business could be adversely affected.
  • Our intellectual property rights will not necessarily provide us with competitive advantages.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we do not obtain protection under the Hatch-Waxman amendments and similar foreign legislation for extending the term of patents covering each of our product candidates, our business may be materially harmed.
  • If we are unable to protect the confidentiality of our trade secrets and proprietary information, the value of our technology and products could be adversely affected.
  • We may be subject to claims that we or our employees or consultants have wrongfully used or disclosed alleged trade secrets or other proprietary information of our employees’ or consultants’ former employers or their clients.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, documentary, fee payment and other requirements imposed by regulations and governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent protection and patent prosecution for some of our product candidates may be dependent on, and the ability to assert patents and defend them against claims of invalidity may be maintained by, third parties.
  • Changes in patent laws or patent jurisprudence could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We may not be able to protect our intellectual property rights throughout the world.
  • We will need to obtain FDA approval for any proposed product candidate names, and any failure or delay associated with such approval may adversely affect our business.
  • Risks Related to Ownership of Our Common Stock
  • An active trading market for our common stock may not be sustained.
  • We are controlled by Haldor Topsøe Holding A/S and a concentrated group of stockholders, whose interests in our business may conflict with yours.
  • A significant portion of our total outstanding common stock is restricted from immediate resale but may be sold into the market in the near future. This could cause the market price of our common stock to drop significantly, even if our business is doing well.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • We have incurred and will continue to incur significant increased costs as a result of operating as a public company, and our management has devoted and will continue to devote substantial time to corporate governance standards.
  • We are an “emerging growth company,” and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies could make our common stock less attractive to investors.
  • We have never paid and do not anticipate paying cash dividends on our common stock, and accordingly, stockholders must rely on share appreciation for any return on their investment.
  • Our amended and restated bylaws provide that the Court of Chancery of the State of Delaware is 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.
Management Discussion
  • Research and development expenses were $8.3 million for the three months ended September 30, 2019, compared to $5.2 million for the three months ended September 30, 2018. The increase of $3.1 million was primarily driven by an increase of $1.4 million in personnel-related expenses, including stock-based compensation, due to an increase in headcount. Clinical and preclinical stage programs increased by $0.8 million which consisted of expenses for our IGM-2323 Phase 1 clinical trial for which we announced the dosing of the first patient in October 2019. Depreciation and facilities increased by $0.9 million primarily due to a new lease agreement for additional office, laboratory and manufacturing space in Mountain View which commenced in May 2019.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg

Proxies

No filings