Could IGMS be a value trap? It reported in a press release of having $183.3mn of cash and equivalents as of Dec 31, 2024. That's down from $218.8mn from the previous quarter's end.
Though most of the staff was released, IGMS has $141.9mn of LT deferred revenue. Isn't this a form of debt? As far as you know, will it have to pay this back?
It has a history of dilutive financings. With it running low on cash, isn't this a material risk, especially since it's effectively a controlled company?
Hey, what are your thoughts about fair value for IGMS ? I liked the language in the 8-k. High cash burn but should be reduced given 73% RIF. Think it's an interesting one. Would like it more if there was a tang on the register.
I bought a small position even though it feels speculative since their current balance sheet is a bit of a mystery. I’m hoping the cash burn isn’t too bad and they liquidate rather quickly. This is my first time with a busted biotech so I’m treating it as an experiment
Could IGMS be a value trap? It reported in a press release of having $183.3mn of cash and equivalents as of Dec 31, 2024. That's down from $218.8mn from the previous quarter's end.
Though most of the staff was released, IGMS has $141.9mn of LT deferred revenue. Isn't this a form of debt? As far as you know, will it have to pay this back?
It has a history of dilutive financings. With it running low on cash, isn't this a material risk, especially since it's effectively a controlled company?
Thanks for write-up and response.
Ah yeah I’ll have to look at the deferred revenue
Thank you for taking the time to read my book and sharing your thoughts Tyler!
Glad to hear you found it useful.
Thanks for the reply!
Hey, what are your thoughts about fair value for IGMS ? I liked the language in the 8-k. High cash burn but should be reduced given 73% RIF. Think it's an interesting one. Would like it more if there was a tang on the register.
I bought a small position even though it feels speculative since their current balance sheet is a bit of a mystery. I’m hoping the cash burn isn’t too bad and they liquidate rather quickly. This is my first time with a busted biotech so I’m treating it as an experiment