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igm biosciences (NASDAQ:IGMS) Chief Financial Officer Misbah Tahir sold 1,522 shares of the company’s common stock on June 16, 2025. The sales were executed at prices ranging from $1.17 to $1.22, with a weighted average price of $1.1992, for a total transaction value of $1,825. The transaction comes as the stock has declined over 83% in the past six months, with the company’s market capitalization now at approximately $71 million. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
Following the transaction, Tahir directly owns 178,802 shares of igm biosciences.
The sale was executed to cover tax withholding obligations related to the vesting of restricted stock units.
In other recent news, IGM Biosciences, Inc. announced the termination of its collaboration and license agreement with Genzyme Corporation, a Sanofi (NASDAQ:SNY) entity. The agreement, which began on March 28, 2022, was focused on developing IgM antibodies for diseases like cancer and immunological disorders. The termination notice was received on May 5, 2025, and will take effect 30 days later. In response, IGM Biosciences has implemented an 80% reduction in its workforce and closed most of its laboratory and office spaces to cut operating costs. The company is now exploring strategic alternatives and reorganization options. These recent developments are expected to have significant implications for the company’s operations and financial health. The information related to this termination is not considered filed under the Securities Exchange Act of 1934 unless specifically referenced in future filings.
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