IGMS - IGM stock soars 120% amid Q4 results while Stifel calls Sanofi deal 'inflection point'

IGM Biosciences (NASDAQ:IGMS +120.3%) stock soared following its Q4 results and announcing a collaboration with Sanofi (SNY) for oncology and autoimmune disorder programs potentially worth over $6B. The company's Q4 research and development expenses rose to $39.17M, compared to $19.6M in Q4 2020. Q4 general and administrative expenses increased to $11.51M, compared to $5.14M in the same period a year ago. Net loss widened to -$50.64M, compared to a net loss of -$24.62M in Q4 2020. As of Dec. 31, 2021, Cash and investments were $229.5M, compared to $366.3M as of Dec. 31, 2020. Outlook 2022: The company expects full year GAAP operating expenses of $250M to $260M including estimated non-cash stock-based compensation expense of ~$50M. IGM said that it expects to provide full year collaboration and license revenue guidance as well as ending 2022 cash and investments guidance during its Q1 2022 financial results anticipated in May. Meanwhile Stifel analyst Stephen Willey said IGM's (IGMS)

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IGM stock soars 120% amid Q4 results, while Stifel calls Sanofi deal 'inflection point'