$IGMS
IGM Biosciences, Inc.

2023 Q4 Form 10-K Financial Statement

#000095017024027924 Filed on March 07, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $651.0K $2.130M $1.069M
YoY Change 75.0% 99.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.58M $50.07M $49.74M
YoY Change -0.34% 0.68% 29.87%
% of Gross Profit
Research & Development $54.19M $215.5M $179.3M
YoY Change 20.38% 20.21% 41.14%
% of Gross Profit
Depreciation & Amortization $2.181M $8.300M $6.100M
YoY Change 14.91% 36.07% 35.56%
% of Gross Profit
Operating Expenses $65.77M $265.6M $229.0M
YoY Change 16.13% 15.97% 38.53%
Operating Profit -$263.5M -$228.0M
YoY Change 15.58% 37.89%
Interest Expense $4.666M $17.74M $7.035M
YoY Change 24.56% 152.21% 4324.53%
% of Operating Profit
Other Income/Expense, Net $0.00 $17.72M $6.854M
YoY Change -100.0% 158.58% 4210.69%
Pretax Income -$60.45M -$245.7M -$221.1M
YoY Change 14.98% 11.14% 33.87%
Income Tax $242.0K $678.0K $0.00
% Of Pretax Income
Net Earnings -$60.70M -$246.4M -$221.1M
YoY Change 15.44% 11.45% 33.87%
Net Earnings / Revenue -9323.35% -11568.83% -20683.07%
Basic Earnings Per Share -$4.71 -$5.32
Diluted Earnings Per Share -$1.01 -$4.71 -$5.32
COMMON SHARES
Basic Shares Outstanding 52.31M 41.54M
Diluted Shares Outstanding 52.31M 41.54M

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $337.7M $337.7M $427.2M
YoY Change -20.95% -20.95% 86.09%
Cash & Equivalents $112.5M $112.5M $121.2M
Short-Term Investments $225.2M $225.2M $305.9M
Other Short-Term Assets $9.920M $9.920M $11.26M
YoY Change -11.89% -11.89% 0.48%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $347.6M $347.6M $438.4M
YoY Change -20.72% -20.72% 82.11%
LONG-TERM ASSETS
Property, Plant & Equipment $38.23M $74.01M $73.08M
YoY Change 14.18% 1.27% 29.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.809M $1.809M $2.003M
YoY Change -9.69% -9.69% 93.34%
Total Long-Term Assets $75.81M $75.81M $75.08M
YoY Change 0.98% 0.98% 30.84%
TOTAL ASSETS
Total Short-Term Assets $347.6M $347.6M $438.4M
Total Long-Term Assets $75.81M $75.81M $75.08M
Total Assets $423.4M $423.4M $513.5M
YoY Change -17.54% -17.54% 72.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.326M $1.326M $2.512M
YoY Change -47.21% -47.21% -55.01%
Accrued Expenses $31.54M $37.38M $39.44M
YoY Change -6.18% -5.22% 77.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.48M $42.48M $44.69M
YoY Change -4.93% -4.93% 60.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $177.7M $177.7M $181.6M
YoY Change -2.12% -2.12% 613.67%
Total Long-Term Liabilities $177.7M $177.7M $181.6M
YoY Change -2.12% -2.12% 613.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.48M $42.48M $44.69M
Total Long-Term Liabilities $177.7M $177.7M $181.6M
Total Liabilities $220.2M $220.2M $226.2M
YoY Change -2.68% -2.68% 325.1%
SHAREHOLDERS EQUITY
Retained Earnings -$821.2M
YoY Change 42.87%
Common Stock $1.024B
YoY Change 18.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $203.2M $203.2M $287.3M
YoY Change
Total Liabilities & Shareholders Equity $423.4M $423.4M $513.5M
YoY Change -17.54% -17.54% 72.24%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$60.70M -$246.4M -$221.1M
YoY Change 15.44% 11.45% 33.87%
Depreciation, Depletion And Amortization $2.181M $8.300M $6.100M
YoY Change 14.91% 36.07% 35.56%
Cash From Operating Activities -$48.01M -$192.2M -$5.853M
YoY Change 26.81% 3184.32% -95.29%
INVESTING ACTIVITIES
Capital Expenditures $1.448M $12.38M $10.21M
YoY Change -46.27% 21.31% -22.94%
Acquisitions
YoY Change
Other Investing Activities -$13.24M $80.74M -$215.4M
YoY Change -17.81% -137.48% -867.72%
Cash From Investing Activities -$14.69M $68.36M -$225.6M
YoY Change -21.89% -130.29% -1622.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 402.0K 115.1M 219.4M
YoY Change -16.6% -47.55% 8760.34%
NET CHANGE
Cash From Operating Activities -48.01M -192.2M -5.853M
Cash From Investing Activities -14.69M 68.36M -225.6M
Cash From Financing Activities 402.0K 115.1M 219.4M
Net Change In Cash -62.30M -8.808M -12.12M
YoY Change 10.88% -27.3% -88.68%
FREE CASH FLOW
Cash From Operating Activities -$48.01M -$192.2M -$5.853M
Capital Expenditures $1.448M $12.38M $10.21M
Free Cash Flow -$49.46M -$204.6M -$16.06M
YoY Change 21.95% 1174.13% -88.33%

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CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2023 igms Increase Decrease In Operating Lease Liabilities
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CY2022 igms Increase Decrease In Operating Lease Liabilities
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CY2021 igms Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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CY2023 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2022 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2021 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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CY2023 igms Proceeds From Issuance Of Common Stock In Public Offering And Private Placement Net Of Offering Costs
ProceedsFromIssuanceOfCommonStockInPublicOfferingAndPrivatePlacementNetOfOfferingCosts
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CY2022 igms Proceeds From Issuance Of Common Stock In Public Offering And Private Placement Net Of Offering Costs
ProceedsFromIssuanceOfCommonStockInPublicOfferingAndPrivatePlacementNetOfOfferingCosts
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CY2021 igms Proceeds From Issuance Of Common Stock In Public Offering And Private Placement Net Of Offering Costs
ProceedsFromIssuanceOfCommonStockInPublicOfferingAndPrivatePlacementNetOfOfferingCosts
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113112000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121920000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
134035000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q4 us-gaap Investments And Cash
InvestmentsAndCash
337700000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such management estimates include, but are not limited to, those related to revenue recognition, marketable securities</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, manufacturing accruals, accrued research and development expenses, stock-based compensation, operating lease right-of-use (ROU) assets and liabilities, income tax uncertainties and the valuation of deferred tax assets. The Company bases its estimates on its historical experience and also on assumptions that it believes are reasonable; however, actual results could significantly differ from those estimates. The most significant estimates and assumptions that management considers in the preparation of our financial statements relate to revenue recognition, accrued research and development costs, and leases.</span></p>
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk and Other Risks and Uncertainties</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company invests in money market funds, U.S. treasury securities, corporate bonds, commercial paper, and U.S. government agency securities. The Company maintains bank deposits in federally insured financial institutions and these deposits may exceed federally insured limits. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents, and restricted cash, and bond issuers to the extent recorded on the balance sheets. The Company’s investment policy limits investments to high credit quality securities issued by the U.S. government and its agencies, highly rated banks, and corporate issuers, subject to certain concentration limits and restrictions on maturities. The Company has not experienced any material losses on its deposits of cash, cash equivalents, and marketable securities.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s future results of operations involve a number of other risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, the Company’s early stages of clinical drug development; uncertainties related to the use of engineered IgM antibodies, which is a novel and unproven therapeutic approach; the Company’s ability to advance product candidates into, and successfully complete, clinical trials on the timelines it projects; the Company’s ability to adequately demonstrate sufficient safety and efficacy of its product candidates; the Company’s ability to enroll patients in its ongoing and future clinical trials; the Company’s ability to successfully manufacture and supply its product candidates for clinical trials; the occurrence of any event or circumstance that could give rise to the termination of the Company’s collaborations with third parties; the Company’s ability to obtain additional capital to finance its operations; uncertainties related to the projections of the size of patient populations suffering from the diseases the Company is targeting; the Company’s ability to obtain, maintain, and protect its intellectual property rights; developments relating to the Company’s competitors and its industry, including competing product candidates and therapies; general economic and market conditions; and other risks and uncertainties, including those more fully described in the “Risk Factors” section of this Annual Report on Form 10-K.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s product candidates will require approvals from the U.S. Food and Drug Administration (FDA) and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a materially adverse impact on the Company.</span></p>
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
300000
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassification</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#1d1c1d;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain reclassifications have been made to prior period amounts to conform to current period presentation. These reclassifications did not have an impact on the Company’s results of operations or financial position as of December 31, 2023, 2022, and 2021</span><span style="color:#1d1c1d;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span></p>
CY2023Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
331714000
CY2023Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
228000
CY2023Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
77000
CY2023Q4 igms Cash And Cash Equivalents And Available For Sale Securities Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleSecuritiesDebtSecuritiesFairValue
331865000
CY2022Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
420550000
CY2022Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
15000
CY2022Q4 igms Cash And Cash Equivalents And Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
CashAndCashEquivalentsAndAvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
716000
CY2022Q4 igms Cash And Cash Equivalents And Available For Sale Securities Debt Securities Fair Value
CashAndCashEquivalentsAndAvailableForSaleSecuritiesDebtSecuritiesFairValue
419849000
CY2022Q4 igms Number Of Financial Instruments Classified As Level Three
NumberOfFinancialInstrumentsClassifiedAsLevelThree
0
CY2023Q4 igms Number Of Financial Instruments Classified As Level Three
NumberOfFinancialInstrumentsClassifiedAsLevelThree
0
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
121485000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
77000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
253829000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
253829000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
716000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
35
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
69
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InterestReceivable
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CY2022Q4 us-gaap Interest Receivable
InterestReceivable
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CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
58831000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
45809000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20599000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12325000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38232000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33484000
CY2023 us-gaap Depreciation
Depreciation
8300000
CY2022 us-gaap Depreciation
Depreciation
6100000
CY2021 us-gaap Depreciation
Depreciation
4500000
CY2023Q4 igms Accrued Research And Development Materials And Services Current
AccruedResearchAndDevelopmentMaterialsAndServicesCurrent
14625000
CY2022Q4 igms Accrued Research And Development Materials And Services Current
AccruedResearchAndDevelopmentMaterialsAndServicesCurrent
20747000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3147000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1759000
CY2023Q4 us-gaap Accrued Employee Benefits Current
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13527000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
10920000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
195000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31544000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
33621000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5548000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
3819000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
8250000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
6217000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
4137000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
1084000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
592000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
307000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7892000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6104000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6208000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6377000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6306000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
22303000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
55190000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12333000
CY2023Q4 igms Tenant Allowances
TenantAllowances
-2351000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
40506000
CY2023Q4 igms License Agreement Potential Milestone Payments
LicenseAgreementPotentialMilestonePayments
0
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1200000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1200000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock (excluding non-voting common stock) is entitled to one vote
CY2023Q4 igms Number Of Voting Rights For Each Common Stock Held
NumberOfVotingRightsForEachCommonStockHeld
1
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2022 us-gaap Dividends Common Stock
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