IGM Biosciences cuts 22% of workforce, axes hematologic oncology program

IGM Bio­sciences is not on­ly re­duc­ing its work­force by about 22%, but it is al­so ax­ing its clin­i­cal de­vel­op­ment pro­gram in hema­to­log­ic on­col­o­gy as well as an un­named tar­get­ed cy­tokine can­di­date.

The Cal­i­for­nia-based com­pa­ny said the changes would ex­tend its cash run­way in­to the sec­ond quar­ter of 2026, stretch­ing the orig­i­nal time­line of the sec­ond half of 2025. Ac­cord­ing to SEC fil­ings, IGM had 290 full-time em­ploy­ees as of Sept. 30.

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