BOTHELL, Wash.--(BUSINESS WIRE)--Immunome, Inc. (the "Company†) (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, announced today that on Oct. 1, 2025, the Compensation Committee of the Company's Board of Directors (the "Compensation Committee†) granted inducement awards consisting of non-statutory stock options to purchase an aggregate of 69,000 shares of common stock to 5 new employees under the Company's 2024 Inducement. ...

Company Overview - Immunome, Inc. (IMNM) shares increased by 6.1% to close at $11.2, supported by higher trading volume compared to normal sessions [1] - The stock has gained 3.9% over the past four weeks [1] Pipeline and Development - The price surge is linked to growing investor optimism regarding the development of varegacestat, the company's lead pipeline candidate, currently in late-stage studies for treating desmoid tumors [2] - Immunome is also working on other targeted therapies in early-stage studies for various cancer indications [2] Financial Expectations - The company is projected to report a quarterly loss of $0.57 per share, reflecting a year-over-year increase of 26.9% [3] - Expected revenues are $2.93 million, which is a 0.7% increase from the same quarter last year [3] - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating a lack of earnings estimate revisions [4] Industry Context - Immunome operates within the Zacks Medical - Biomedical and Genetics industry, which includes other companies like Precision BioSciences (DTIL) [4] - Precision BioSciences' consensus EPS estimate has also remained unchanged at -$0.31, showing a year-over-year change of 89.1% [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team operates from key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2][3] Group 2 - The team delivers news and insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4][5] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

Summary of Immuno's Conference Call Company Overview - **Company Name**: Immuno - **Industry**: Biotechnology, specifically focused on oncology and cancer treatment - **Key Products**: Gamma secretase inhibitor (varigastat) and antibody-drug conjugates (ADCs) Core Points and Arguments 1. **Focus on Oncology**: Immuno aims to establish itself as a premier oncology company by developing effective cancer therapies [3][6] 2. **Upcoming Data Release**: The company plans to present unblinded data on varigastat, a gamma secretase inhibitor for desmoid tumors, in the second half of the year [3][20] 3. **ADCs Development**: Immuno is developing multiple ADCs, with the first targeting ROR1, which is significant for both liquid and solid tumors [4][24] 4. **Varigastat's Efficacy**: In phase two trials, varigastat demonstrated a 64% overall response rate compared to 41% for the competitor's drug, nirogastat [15] 5. **Patient Compliance**: Varigastat's once-daily dosing is expected to improve patient compliance and outcomes compared to the twice-daily regimen of nirogastat [13] 6. **Safety Profile**: The safety profile of varigastat in phase two was consistent with nirogastat, with no significant differences noted [17] 7. **Regulatory Strategy**: The company is prepared to unblind phase three data based on event-driven studies, similar to past successful experiences [20][22] 8. **Innovative ADC Technology**: Immuno's ADCs utilize proprietary payloads designed for rapid internalization and enhanced therapeutic index, addressing limitations seen in existing ADCs [29][43] 9. **Target Selection**: The company prioritizes unique targets with no approved ADCs, aiming to differentiate itself in a crowded market [41][43] 10. **Future Development Plans**: Immuno is actively working on expanding its ADC pipeline and has a robust discovery effort to identify novel targets [38][39] Additional Important Content - **Market Context**: The incidence of desmoid tumors is notably high among young adults, particularly women, indicating a significant patient population for varigastat [9][10] - **Competitive Landscape**: The first approved systemic therapy for desmoid tumors was nirogastat, which Immuno aims to outperform with varigastat [12] - **Intellectual Property Strategy**: Immuno emphasizes strong intellectual property protection to maintain a competitive edge in the biotech space [40][41] - **Clinical Trials**: The company is conducting trials in both B-cell lymphomas and solid tumors, with a focus on demonstrating the efficacy of its ADCs [33][36] This summary encapsulates the key points discussed during the conference call, highlighting Immuno's strategic focus, product pipeline, and competitive positioning within the biotechnology industry.

Group 1 - Immunome, Inc. (NASDAQ: IMNM) has been previously covered with a pessimistic view on the sustainability of its rally, which was driven by non-clinical data catalysts [1] - The author has a PhD in biochemistry and extensive experience in analyzing clinical trials and biotech companies, emphasizing the importance of understanding the science behind investments [1] Group 2 - The article does not provide any specific financial data or performance metrics related to Immunome, Inc. or the biotech industry [2][3]

Company Performance - Immunome, Inc. reported a quarterly loss of $0.5 per share, which was better than the Zacks Consensus Estimate of a loss of $0.52, representing an earnings surprise of +3.85% [1] - The company posted revenues of $4.02 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 62.88%, compared to revenues of $2.36 million in the same quarter last year [2] - Over the last four quarters, Immunome has surpassed consensus EPS estimates two times and topped consensus revenue estimates twice [2] Future Outlook - The sustainability of Immunome's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is -$0.56 on revenues of $2.48 million, and for the current fiscal year, it is -$2.21 on revenues of $5.47 million [7] - The estimate revisions trend for Immunome was unfavorable ahead of the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Immunome belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8] - Another company in the same industry, Precision BioSciences, is expected to report a quarterly loss of $0.09 per share, reflecting a year-over-year change of -102.6%, with revenues anticipated to be $13.7 million, down 72.6% from the previous year [9][10]

PART I [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Immunome's H1 2025 unaudited financials report total assets of $296.3 million and a net loss of $85.0 million [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $296.3 million by June 30, 2025, driven by cash and marketable securities, while liabilities decreased Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $143,876 | $143,351 | | Marketable securities | $124,160 | $73,952 | | Total current assets | $277,432 | $221,339 | | **Total assets** | **$296,290** | **$240,241** | | **Liabilities & Equity** | | | | Total current liabilities | $22,878 | $54,307 | | **Total liabilities** | **$27,020** | **$59,076** | | **Total stockholders' equity** | **$269,270** | **$181,165** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a net loss of $85.0 million for the six months ended June 30, 2025, a significant improvement from the prior year due to the absence of IPR&D expenses Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Collaboration revenue | $4,015 | $2,364 | $6,941 | $3,393 | | In-process R&D | $0 | $6,312 | $0 | $118,266 | | Research and development | $40,451 | $29,083 | $77,323 | $44,452 | | General and administrative | $10,042 | $6,978 | $20,732 | $12,983 | | Loss from operations | $(46,478) | $(40,009) | $(91,114) | $(172,308) | | **Net loss** | **$(43,397)** | **$(36,122)** | **$(85,037)** | **$(165,614)** | | Net loss per share | $(0.50) | $(0.60) | $(1.02) | $(2.97) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to $102.5 million for H1 2025, with financing activities providing $162.2 million, resulting in $144.1 million cash at period-end Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(102,456) | $(34,567) | | Net cash used in investing activities | $(59,082) | $(118,919) | | Net cash provided by financing activities | $162,173 | $220,139 | | **Net increase in cash** | **$635** | **$66,653** | | **Cash at end of period** | **$144,086** | **$165,432** | - The primary source of financing in the first six months of 2025 was a public offering that generated **$172.5 million** in proceeds, offset by **$10.8 million** in offering costs[23](index=23&type=chunk)[140](index=140&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's oncology business, liquidity, accounting policies, and significant events like the AbbVie collaboration conclusion and 2024 asset acquisitions - The company is a clinical-stage targeted oncology company and expects to continue incurring significant operating losses, with an accumulated deficit of **$600.8 million** as of June 30, 2025[28](index=28&type=chunk)[29](index=29&type=chunk) - Existing cash, cash equivalents, and marketable securities are expected to be sufficient to fund operations for at least **12 months** from the filing date of this report[30](index=30&type=chunk) - The collaboration agreement with AbbVie terminated in July 2025, with all remaining revenue of **$6.9 million** recognized in the first six months of 2025 and no deferred revenue remaining[47](index=47&type=chunk)[48](index=48&type=chunk) - In 2024, the company completed asset acquisitions from Ayala Pharmaceuticals for **$71.3 million** and Zentalis Pharmaceuticals for **$38.6 million** (initial consideration), which were expensed as IPR&D[53](index=53&type=chunk)[57](index=57&type=chunk) - Share-based compensation expense for the six months ended June 30, 2025, was **$11.05 million**, a significant increase from **$5.39 million** in the same period of 2024[86](index=86&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses Immunome's clinical-stage oncology pipeline, reduced net loss due to non-recurring IPR&D, increased R&D expenses, and strong liquidity post-public offering [Overview and Pipeline](index=24&type=section&id=Overview%20and%20Pipeline) Immunome is a clinical-stage oncology company advancing three clinical and three preclinical targeted therapies, including Varegacestat, IM-1021, and IM-3050 - The company is advancing a pipeline of **three clinical** and **three preclinical** assets[96](index=96&type=chunk) - Key clinical programs include: - **Varegacestat:** A GSI in a Phase 3 trial for desmoid tumors, with topline data expected in H2 2025[96](index=96&type=chunk)[99](index=99&type=chunk) - **IM-1021:** A ROR1 ADC that entered a Phase 1 trial in February 2025[100](index=100&type=chunk) - **IM-3050:** A FAP-targeted radioligand therapy with IND clearance, expecting to start a Phase 1 trial in H2 2025[101](index=101&type=chunk) - Internal discovery efforts are centered on designing ADCs against novel or underexplored targets, supported by its proprietary HC74 TOP1i payload[97](index=97&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For H1 2025, collaboration revenue increased to $6.9 million, total operating expenses decreased to $98.1 million due to no IPR&D, and net loss improved to $85.0 million Comparison of Results for the Six Months Ended June 30 (in thousands) | Account | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Collaboration revenue | $6,941 | $3,393 | $3,548 | | In-process R&D | $0 | $118,266 | $(118,266) | | Research and development | $77,323 | $44,452 | $32,871 | | General and administrative | $20,732 | $12,983 | $7,749 | | **Net loss** | **$(85,037)** | **$(165,614)** | **$80,577** | - The increase in R&D expenses for the six months ended June 30, 2025, was primarily due to a **$22.3 million** increase in costs for the varegacestat program and a **$15.7 million** increase in indirect R&D costs related to personnel[127](index=127&type=chunk)[132](index=132&type=chunk) - The significant decrease in net loss for the first half of 2025 compared to 2024 was mainly driven by the **$118.3 million** IPR&D expense recognized in 2024 related to acquisitions, which did not recur in 2025[124](index=124&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company held $268.0 million in cash and marketable securities, with a January 2025 public offering raising $161.7 million, providing sufficient capital for at least 12 months - As of June 30, 2025, the company had cash, cash equivalents, and marketable securities of **$268.0 million** and an accumulated deficit of **$600.8 million**[131](index=131&type=chunk) - In January 2025, the company raised net proceeds of **$161.7 million** from a public offering of common stock[133](index=133&type=chunk) - The company has an "at the market" (ATM) sales agreement with approximately **$180.0 million** remaining available for future offerings as of June 30, 2025[134](index=134&type=chunk) - Management expects that existing cash, cash equivalents, and marketable securities will be sufficient to fund operations for at least **12 months** from the filing date of the report[143](index=143&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk.) This information is not required as the company qualifies as a smaller reporting company - Disclosure under this item is not required as the company qualifies as a smaller reporting company[153](index=153&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[154](index=154&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended June 30, 2025[155](index=155&type=chunk) PART II [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings.) The company is not currently involved in any material legal proceedings - The company is not currently a party to any material legal proceedings[158](index=158&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors.) This section details significant risks including historical losses, future funding needs, clinical trial uncertainties, competition, reliance on third parties, intellectual property challenges, and public company compliance - The company has a history of significant losses (**$600.8 million** accumulated deficit as of June 30, 2025) and expects to continue incurring losses for the foreseeable future[161](index=161&type=chunk) - The company will need to raise substantial additional funds to advance its product candidates, and such funding may not be available on acceptable terms, if at all[170](index=170&type=chunk) - The company faces substantial competition, particularly for its lead asset varegacestat, which competes with the FDA-approved OGSIVEO® from SpringWorks Therapeutics[201](index=201&type=chunk)[203](index=203&type=chunk) - The company relies on third parties for manufacturing and conducting clinical trials, making it vulnerable to supply disruptions, quality issues, and performance failures by these partners[285](index=285&type=chunk)[287](index=287&type=chunk) - Protecting intellectual property is difficult and costly, and the company may not be able to ensure its protection, facing risks from patent challenges, litigation, and changes in patent law[311](index=311&type=chunk) - The company will cease to be an "emerging growth company" effective December 31, 2025, which will subject it to increased disclosure and compliance requirements, including an auditor attestation of internal controls[387](index=387&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=101&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reported no unregistered sales of equity securities during the period - None[410](index=410&type=chunk) [Item 3. Defaults Upon Senior Securities](index=101&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reported no defaults upon senior securities - None[411](index=411&type=chunk) [Item 4. Mine and Safety Disclosures](index=101&type=section&id=Item%204.%20Mine%20and%20Safety%20Disclosures.) This item is not applicable to the company - Not applicable[412](index=412&type=chunk) [Item 5. Other Information](index=101&type=section&id=Item%205.%20Other%20Information.) The company reported no other information for this item - None[413](index=413&type=chunk) [Item 6. Exhibits](index=102&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including amendments to the 2024 Inducement Plan, lease amendments, and CEO/CFO certifications - Exhibits filed include the amended 2024 Inducement Plan, two lease amendments, and required CEO/CFO certifications[415](index=415&type=chunk)

[Corporate and Pipeline Update](index=1&type=section&id=Corporate%20and%20Pipeline%20Update) Immunome provides updates on its Q2 2025 progress, highlighting advancements in clinical programs and pipeline milestones [Management Commentary](index=1&type=section&id=Management%20Commentary) The CEO highlighted significant Q2 2025 progress, with clinical programs advancing towards key milestones and anticipated data releases - Immunome expects to share **topline data for the RINGSIDE trial of varegacestat** before the end of 2025 and is positioned to support a new drug application[2](index=2&type=chunk) - The dose escalation study of IM-1021 (ROR1 ADC) has dosed its **third cohort of patients**[2](index=2&type=chunk) - The company is making progress towards **IND submission for three additional ADCs** utilizing its proprietary HC74 TOP1 inhibitor payload technology[2](index=2&type=chunk) [Pipeline Highlights](index=1&type=section&id=Pipeline%20Highlights) Immunome provided updates across its clinical and preclinical pipeline, including progress for varegacestat, IM-1021, IM-3050, and preclinical ADCs [Varegacestat](index=1&type=section&id=Varegacestat) Updates on the Phase 3 RINGSIDE study, including expected topline data and Orphan Drug Designation - **Topline data for the Phase 3 RINGSIDE Part B study** is expected before the end of 2025[6](index=6&type=chunk) - The European Medicines Agency granted **Orphan Drug Designation** to varegacestat in July 2025, following the FDA's designation in November 2023[6](index=6&type=chunk) - Two additional analyses of the Phase 2 RINGSIDE Part A study were presented at the **2025 ASCO Annual Meeting**[6](index=6&type=chunk) [IM-1021](index=1&type=section&id=IM-1021) Progress of the Phase 1 clinical trial with patient dosing at the third level - The Phase 1 clinical trial is ongoing, with patients recently dosed at the **third dose level**, including participants with advanced B-cell lymphomas and solid tumors[4](index=4&type=chunk) [IM-3050](index=1&type=section&id=IM-3050) IND clearance received and anticipated initiation of a Phase 1 clinical trial - Received **IND clearance in April 2025** and a Phase 1 clinical trial is expected to be initiated before the end of 2025[4](index=4&type=chunk) [Preclinical Pipeline](index=1&type=section&id=Preclinical%20Pipeline) Advancement of three preclinical ADCs into IND-enabling work - **Three preclinical ADCs** (IM-1617, IM-1340, and IM-1335) are currently undergoing IND-enabling work, incorporating the HC74 payload and targeting solid tumors[5](index=5&type=chunk) [Second Quarter 2025 Financial Results](index=2&type=section&id=Second%20Quarter%202025%20Financial%20Results) Immunome's financial performance for Q2 2025, including key financial metrics and statements [Financial Summary](index=2&type=section&id=Financial%20Summary) Immunome reported a net loss of $43.4 million in Q2 2025, ending with $268.0 million in cash, expected to fund operations into 2027 Q2 2025 Financial Highlights | Metric | Amount (in millions) | | :--- | :--- | | Cash, Cash Equivalents & Marketable Securities | $268.0 | | Research and Development Expenses | $40.5 | | General and Administrative Expenses | $10.0 | | Net Loss | $43.4 | - The company's current **cash position of $268.0 million** is expected to fund operations into **2027**[10](index=10&type=chunk) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $296.3 million, while total liabilities decreased to $27.0 million, leading to higher stockholders' equity Condensed Consolidated Balance Sheet Summary (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $277,432 | $221,339 | | **Total assets** | **$296,290** | **$240,241** | | **Total current liabilities** | $22,878 | $54,307 | | **Total liabilities** | **$27,020** | **$59,076** | | **Total stockholders' equity** | **$269,270** | **$181,165** | [Condensed Consolidated Statement of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Operations) Collaboration revenue increased to $4.0 million, but higher operating expenses led to a net loss of $43.4 million for Q2 2025 Statement of Operations Summary (Unaudited; in thousands, except per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Collaboration revenue | $4,015 | $2,364 | | Total operating expenses | $50,493 | $42,373 | | Loss from operations | ($46,478) | ($40,009) | | Net loss | ($43,397) | ($36,122) | | Net loss per share, basic and diluted | ($0.50) | ($0.60) | | Weighted-average shares outstanding | 87,010,742 | 59,936,703 | - Total **share-based compensation expense increased to $5.3 million** in Q2 2025 from $3.2 million in Q2 2024, with increases in both R&D and G&A categories[16](index=16&type=chunk) [About Immunome & Forward-Looking Statements](index=2&type=section&id=About%20Immunome%20%26%20Forward-Looking%20Statements) Information about Immunome's business and a cautionary statement regarding forward-looking information [About Immunome, Inc.](index=2&type=section&id=About%20Immunome%2C%20Inc.) Immunome is a clinical-stage oncology company developing targeted cancer therapies, including ADCs, a gamma secretase inhibitor, and a radioligand - Immunome is a **clinical-stage targeted oncology company** developing therapies like ADCs, a gamma secretase inhibitor, and a radioligand[8](index=8&type=chunk) - Key pipeline programs include **varegacestat (Phase 3)**, **IM-1021 (Phase 1)**, **IM-3050 (IND cleared)**, and preclinical ADCs IM-1617, IM-1335, and IM-1340[8](index=8&type=chunk) [Cautionary Statement Regarding Forward-Looking Statements](index=3&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This section cautions that forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially - The press release contains **forward-looking statements** concerning clinical program progress, data release timing, potential drug applications, and expected cash runway[9](index=9&type=chunk) - These statements are subject to **risks and uncertainties**, including regulatory delays, clinical trial failures, and capital requirements, which could cause actual results to differ[9](index=9&type=chunk)

Pipeline Highlights - Varegacestat, an oral gamma secretase inhibitor for desmoid tumors, expects Phase 3 topline data in the second half of 2025[10] - IM-1021, a ROR1 ADC, is currently in a Phase 1 trial[10] - IM-3050, a FAP radiotherapy, anticipates Phase 1 initiation in the second half of 2025[10] - Three novel ADCs against solid tumor targets are undergoing IND-enabling studies[10] Varegacestat Clinical Data - Phase 2 RINGSIDE Part A data showed a 64% response rate in the 12mg QD arm (n=14) and 55% overall (n=42)[33] - Varegacestat demonstrated a 75% ORR by RECIST in the ITT population (n=14), compared to 41% for Nirogacestat (n=70)[32] - Varegacestat showed -88% median best tumor volume reduction in evaluable patients (n=12), compared to -59% for Nirogacestat (n=61)[32] IM-1021 Development - IM-1021 is in Phase 1 clinical trials, with the first patient dosed in 1Q25[50] - Preclinical data shows IM-1021 achieved 8/8 CR at 2.5 mg/kg in NSCLC PDX Model[58] ADC Discovery and Strategy - The company has screened ~1000 targets, evaluated 15+ targets in vivo, and has 3 novel solid tumor ADCs in IND-enabling studies[70] - Top 10 targets account for 55% of active clinical ADC programs[74]

Core Insights - Immunome, Inc. (IMNM) shares increased by 6% to close at $9.3, driven by higher trading volume compared to typical sessions, contrasting with a 0.1% gain over the past four weeks [1][2] Company Performance - The rise in stock price is linked to growing investor optimism regarding the development of varegacestat, which is in late-stage clinical studies for treating desmoid tumors, alongside other early-stage cancer therapies [2] - The company is projected to report a quarterly loss of $0.52 per share, reflecting a year-over-year decline of 6.1%, with expected revenues of $2.47 million, an increase of 4.5% from the previous year [3] - The consensus EPS estimate for the upcoming quarter has been revised 1.9% higher in the last 30 days, indicating a positive trend that may lead to price appreciation [4] Industry Context - Immunome is categorized under the Zacks Medical - Biomedical and Genetics industry, where Nurix Therapeutics, Inc. (NRIX) also operates, closing 2.2% lower at $11.39, with a 9.5% return over the past month [5] - Nurix Therapeutics has an unchanged consensus EPS estimate of -$0.72 for the upcoming report, representing a year-over-year change of -1.4% [6]