Immunome Inc Stock Price, News & Analysis

Immunome (Nasdaq: IMNM) announced the appointment of Dennis Giesing, Ph.D., as Chief Development Officer, effective immediately. Dr. Giesing brings over 35 years of pharmaceutical experience, having previously worked at Johnson & Johnson Oncology and Taris Biomedical. His role will include leading product development and clinical strategies, with two IND filings planned for 2021. CEO Purnanand Sarma expressed confidence in Dr. Giesing's ability to advance Immunome's antibody therapeutics aimed at oncology and infectious diseases, including COVID-19.

Immunome, Inc. (NASDAQ: IMNM) reported its financial results for Q4 and the full year ending December 31, 2020. The company raised $44.9 million through its IPO, enhancing its financial position with cash and equivalents of $39.8 million as of year-end. For Q4, R&D expenses were $1.8 million, while total annual R&D expenses reached $7.5 million. General and administrative expenses for Q4 were $2.2 million, totaling $4.8 million for the year. The net loss for Q4 was $4.1 million ($0.40 per share), and $17.8 million ($5.26 per share) for the full year.

Immunome, Inc. (Nasdaq: IMNM) announced the advancement of its first oncology program targeting IL-38 into IND-enabling studies, with an IND filing expected in H2 2021. The IL-38 target was identified from a B cell sample of a head and neck cancer patient. IL-38 acts as a novel innate immune checkpoint, correlating with poor clinical outcomes in lung cancer. CEO Purnanand Sarma expressed excitement about the progress, highlighting IL-38's overexpression in tumors with high unmet clinical need. The development aligns with Immunome's goal to innovate antibody therapeutics in oncology.

Immunome, a biopharmaceutical firm (Nasdaq: IMNM), has isolated potent antibodies that neutralize multiple SARS-CoV-2 variants through its memory B cell platform. This discovery is part of a broader effort to create a therapeutic antibody cocktail for COVID-19. The identified antibodies bind to various regions of the spike protein, including those in the South African Variant (B.1.351). The research aims to counteract vaccine resistance and potentially enhance viral clearance. Immunome's COVID program is supported by a $13.3 million grant from the U.S. Department of Defense.

Immunome (Nasdaq: IMNM) has partnered with Abzena to develop IMM-BCP-01, an investigational antibody cocktail targeting COVID-19. This collaboration is aimed at producing the cocktail for clinical testing. In July 2020, Immunome received $13.3 million from the U.S. Department of Defense to support this initiative. Both companies emphasize the potential benefits of this therapy in combating the pandemic. Immunome focuses on developing first-in-class therapeutic antibodies utilizing its proprietary human memory B cell platform.

Immunome, Inc. (Nasdaq: IMNM) announced findings from its preclinical COVID-19 research, highlighting the role of non-Spike antibodies in virus clearance. Key results show over 50% of antibodies from super-responders target non-Spike antigens, including nucleocapsid proteins and ORF8/ORF10. The study suggests potential for developing an optimized antibody cocktail to combat the mutational drift of the Spike protein. This research is part of a $13.3 million agreement with the Department of Defense, supporting Immunome’s COVID therapeutic programs.

Immunome, Inc. (Nasdaq: IMNM) recently appointed Richard Baron to its Board of Directors and Audit Committee Chair, and Sandra Stoneman, Esq. as Chief Legal Officer. These appointments are anticipated to enhance Immunome's capabilities in antibody discovery and clinical program advancement. Additionally, CEO Purnanand Sarma received TiE Boston's 2020 Lifetime Achievement Award for his contributions to science and entrepreneurship. The press release emphasizes the company's commitment to innovating antibody therapeutics targeting oncology and infectious diseases, including COVID-19.

Immunome, Inc. (Nasdaq: IMNM) announced Q3 2020 financial results, highlighting a significant milestone with the completion of its IPO, yielding $44.9 million in gross proceeds. The company aims to advance clinical programs for oncology and COVID-19 treatments, including filing IND applications in 2021. Key financial metrics reveal cash and cash equivalents at $6.7 million and a net loss of $8.4 million, equating to $7.52 per share. The R&D expenses decreased from $2.2 million in Q3 2019 to $1.6 million in Q3 2020, while G&A expenses increased considerably from $0.5 million in the same period.

Immunome, Inc. (Nasdaq: IMNM) has announced the full exercise of the underwriters' option for 487,500 additional shares at $12.00 each, raising approximately $5.9 million in gross proceeds. This follows their initial public offering, totaling 3,737,500 shares sold and gross proceeds of about $44.9 million before expenses. The offering, effective as of October 1, 2020, enhances Immunome's funding to continue its focus on oncology and infectious diseases, leveraging its innovative memory B cell platform for therapeutic development.