Why Did IGM Biosciences Shares Advance Today?

IGM Biosciences Inc IGMS has progressed two Phase 1 trials evaluating IGM-6268, an anti-SARS-CoV-2 IgM monoclonal antibody, to treat and prevent infection COVID-19. 

• The first Phase 1 trial is a single (SAD) and multiple (MAD) ascending dose study to assess IGM-6268 administered intranasally in healthy volunteers. 
• The first two dose cohorts of healthy volunteers have been cleared in the U.S., and data from the study are expected in 1H of 2022.
• The second Phase 1a/1b trial in South Africa assesses IGM-6268 administered intranasally first in healthy volunteers, once an appropriate dose cohort has been cleared, in outpatients with mild to moderate COVID-19. 
• Data from the study are expected in mid-2022.
• IGM-6268 is an engineered IgM antibody that specifically targets the receptor-binding domain of the SARS-CoV-2 spike protein. 
• Price Action: IGMS shares are trading 9.52% higher at $18.86 during the market session on the last check Wednesday.