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BMY - IPO Update: IGM Biosciences Files For $125 Million IPO
Bristol-Myers Squibb Company
Quick Take
IGM Biosciences (IGMS) intends to raise $125 million from the sale of its common stock in an IPO, per an S-1/A registration statement.
The company is developing a pipeline of antibodies for the treatment of various blood cancers.
IGMS is still in pre-Phase 1 safety trial stage, so is an ultra-high-risk biopharma firm likely more suited to long-term hold institutional investors.
Company & Technology
Mountain View, California-based IGM was founded in 1993 as Palingen and currently develops engineered IgM antibodies for the treatment of cancer patients.