FMTX - Powered by ASH successes new biotech winners boost liquidity

The 62nd ASH Annual Meeting and Exposition held virtually this year from December 5-8, 2020, has highlighted promising experimental therapies in biotech, enabling their developers to fortify their balance sheets through secondary offers as investors pore through the trial data.Since November 4, when the Ash abstracts were initially posted, the promising trial results have powered the winners to sharply rise in value and a slew of public offers have followed.IGM Biosciences (NASDAQ:IGMS) has more than doubled in value after reporting favorable data for its bispecific antibody therapy, IGM-2323, in patients with relapsed/refractory B cell non-Hodgkin’s lymphoma.The multicenter, open-label Phase 1 dose-escalation trial yielded what the company identified as the first-in-human clinical results of an engineered IgM antibody, and shares jumped +16.6% on Monday after the presentation held over the weekend.Capitalizing on the gain, a public offer followed, which was later upsized by the company to ~$200M. The share issuance valued at $90.00 a piece is more than +81.8%

For further details see:

Powered by ASH successes, new biotech winners boost liquidity