IGM Bio falls after plans to cut spending on cancer drug candidates
** Shares of biotech and medical research company IGM Biosciences IGMS.O fall 21.4% to $13 in extended trading
** Co says it will minimize future spending on the research and clinical development of aplitabart in second-line metastatic colorectal cancer and other oncology candidates
** Co appoints industry veteran Mary Beth Harler as chief executive officer to replace Fred Schwarzer, who is stepping down from his role as CEO, President and Director
** Chief Scientific Officer Bruce Keyt will also step down from current roles and remain as consultant
** Co's medical chief, Chris Takimoto, is also stepping down
** Up to last close, stock has nearly doubled YTD
Reporting by Harshita Mary Varghese in Bengaluru
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