NGM Biopharmaceuticals INC: management transactions · United States · SEC (Form 4)

About NGM Biopharmaceuticals INC

NGM Biopharmaceuticals, Inc. is a U.S.-based biopharmaceutical company that was historically listed on the NASDAQ market in the United States. For international investors, the key point is that NGM has been a research-driven biotech platform rather than a commercial-stage pharma company: its business model has centered on discovering proprietary drug candidates and advancing them through early and mid-stage clinical development, often with a strong emphasis on partnering, portfolio prioritization, and targeted capital allocation. The company was incorporated in Delaware in December 2007 and commenced operations in 2008. Its headquarters are in South San Francisco, California, placing it in one of the most important biopharma clusters in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1426332/000162828023005569/ngm-20221231.htm?utm_source=openai)) NGM’s strategy has been described as “biology-centric,” meaning it uses a deep understanding of disease biology and protein engineering to generate differentiated therapeutic candidates. Over time, the company built a pipeline spanning several therapeutic areas, including liver and metabolic diseases, rare diseases, oncology, and ophthalmology. Its best-known clinical programs include aldafermin, an engineered FGF19 analog being developed for primary sclerosing cholangitis (PSC); NGM120, a GFRAL antagonist studied in hyperemesis gravidarum and cancer cachexia; and NGM707, an immuno-oncology antibody program targeting ILT2/ILT4 in advanced solid tumors. Earlier company disclosures also referenced additional assets such as NGM621 and NGM936. ([news.ngmbio.com](https://news.ngmbio.com/news-releases/news-release-details/ngm-bio-announces-new-clinical-data-ongoing-trial-ngm707/?utm_source=openai)) From a competitive standpoint, NGM has operated as a small-cap biotech in a highly competitive, high-risk segment where scientific differentiation is essential but clinical execution and funding discipline are equally critical. Its competitive edge historically came from its internal discovery engine and its ability to originate wholly owned programs rather than relying solely on external in-licensing. At the same time, like many biotech peers, the company faced the typical constraints of a capital-intensive R&D model, where portfolio focus and partnership decisions materially shape long-term value creation. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1426332/000162828023005569/ngm-20221231.htm?utm_source=openai)) A crucial current-market context for investors is that NGM is no longer an actively traded NASDAQ-listed stock. In April 2024, the company announced the closing of its tender offer / take-private transaction, after which its common shares ceased trading on Nasdaq and the company intended to be delisted and deregistered. In other words, while NGM is historically associated with the NASDAQ market in the United States, it is now a private company rather than a public listing. ([news.ngmbio.com](https://news.ngmbio.com/node/10536/pdf?utm_source=openai)) Geographically, NGM’s footprint has remained overwhelmingly U.S.-centric, with headquarters and core operations in South San Francisco. In 2025, the company continued to signal a narrower strategic focus, including a new Chief Medical Officer appointment to support the clinical development of its lead remaining programs, especially aldafermin for PSC and NGM120 for hyperemesis gravidarum and cachexia. That strategic reset suggests a company aiming to preserve optionality around a smaller number of higher-priority clinical assets. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1426332/000162828024010232/ngm-20231231.htm?utm_source=openai))