IGM Biosciences Inc. (IGMS) Misses Q2 EPS by 75c; offers guidance

IGM Biosciences Inc. (NASDAQ: IGMS) reported Q2 EPS of ($0.79), $0.75 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $1.26 million versus the consensus estimate of $54.31 million.

GUIDANCE

2024 Financial Guidance
The Company expects full year 2024 GAAP operating expenses of $210 million to $220 million including estimated non-cash stock-based compensation expense of approximately $40 million, and full year collaboration revenue of approximately $2 million related to the Sanofi agreement. The Company expects to end 2024 with a balance of approximately $180 million in cash and investments and for the balance to enable it to fund its operating expenses and capital expenditure requirements into the second quarter of 2026.

For earnings history and earnings-related data on IGM Biosciences Inc. (IGMS) click here.

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