IMNM Immunome Inc.

38.16
-1.79  -4%
Previous Close 39.95
Open 39.95
52 Week Low 9.275
52 Week High 63.78
Market Cap $402,268,563
Shares 10,541,629
Float 7,950,905
Enterprise Value $411,153,675
Volume 79,461
Av. Daily Volume 346,007
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Drug Pipeline

Drug Stage Notes
IMM-BCP-01
COVID-19
Phase 1
Phase 1
IND filing due 1H 2021.

Latest News

  1. Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company that utilizes its human memory B cell platform to discover and develop first-in-class antibody therapeutics, announced today that its discovery engine has isolated potent antibodies capable of neutralizing several SARS-CoV-2 variants, including the South African Variant (B.1.351), in pseudovirus testing.

    This effort is part of the company's ongoing program to develop a cocktail of antibodies targeting spike and non-spike proteins that can serve as a prophylaxis or a treatment for COVID-19. Immunome's COVID-19 antibody research demonstrates that SARS-CoV-2 "super-responders" who recover from SARS-CoV-2 mount a robust immune response to a broad range of viral targets, including spike…

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company that utilizes its human memory B cell platform to discover and develop first-in-class antibody therapeutics, announced today that its discovery engine has isolated potent antibodies capable of neutralizing several SARS-CoV-2 variants, including the South African Variant (B.1.351), in pseudovirus testing.

    This effort is part of the company's ongoing program to develop a cocktail of antibodies targeting spike and non-spike proteins that can serve as a prophylaxis or a treatment for COVID-19. Immunome's COVID-19 antibody research demonstrates that SARS-CoV-2 "super-responders" who recover from SARS-CoV-2 mount a robust immune response to a broad range of viral targets, including spike and non-spike proteins (https://www.biorxiv.org/content/10.1101/2021.01.27.428534v1).

    As part of developing our antibody cocktail (IMM-BCP-001), Immunome has identified antibodies that bind to non-overlapping regions of the spike protein, including those regions containing the critical mutational variants. Immunome's research shows that certain of our antibodies neutralize pseudoviruses expressing the spike protein of the South African Variant (B.1.351). Recent literature suggests that this South African Variant reduces the effectiveness of certain vaccines and antibody therapies (https://www.biorxiv.org/content/10.1101/2021.01.25.427948v1, https://www.biorxiv.org/content/10.1101/2021.01.25.428137v2).

    Purnanand Sarma, PhD, CEO of Immunome, said, "Our findings underscore the power of Immunome's discovery engine to quickly identify antibodies that are broadly effective against SARS-CoV-2 and its variants. Of note, Immunome's discovery engine has identified antibodies that bind to conserved epitopes of SARS-CoV-1 and SARS-CoV-2 spike, as well as to other non-spike targets. We believe that our comprehensive strategy could combat the negative impact of escape mutants. We are encouraged by these results and plan to continue development efforts on these antibodies."

    Jeffrey P Henderson, MD, PhD, Associate Professor of Medicine and of Molecular Microbiology at Washington University School of Medicine in St. Louis, and a member of Immunome's COVID-19 Advisory Board, said, "Interrogating the overall immune responses in recovered COVID-19 patients allows Immunome to identify not only broadly neutralizing anti-spike antibodies but also promising non-spike antibodies that have the potential to enhance viral clearance. Broadly targeting multiple viral proteins in this way may provide alternative approaches to combat future SARS-CoV-2 variants."

    In July 2020, Immunome was awarded a $13.3 million technology award from the U.S. Department of Defense's Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), in collaboration with the Defense Health Agency, to support Immunome's COVID program. The research discussed in this press release and the article is part of that program.

    About Immunome

    Immunome is a biopharmaceutical company that utilizes its proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics that are designed to change the way diseases are treated. The company's initial focus is on developing therapeutics to treat oncology and infectious diseases, including COVID-19. Immunome's proprietary discovery engine identifies novel therapeutic antibodies and their targets by leveraging the highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease. For more information, please visit www.immunome.com.

    Forward-Looking Statements

    This press release and the article referenced within includes certain disclosures that contain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Immunome's beliefs and expectations regarding the advancement of its oncology and COVID-19 therapeutic antibody programs, execution of its clinical and strategic plans, anticipated upcoming milestones for IMM-BCP-01 and IMM‐ONC‐01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words "anticipate," believe," "estimate," "expect," "intend," "plan," "project," "may," "will," "could," "should," "seek" and similar expressions. Forward-looking statements are based on Immunome's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Immunome's business, operations, strategy, goals and anticipated milestones, Immunome's ability to execute on its strategy including with respect to the timing of its R&D efforts, IND filings, initiation of clinical studies and other anticipated milestones, the timing and effectiveness of any antibody therapeutics which may be developed by Immunome, Immunome's ability to fund operations and the additional risks and uncertainties set forth more fully under the caption "Risk Factors" in Immunome's final prospectus dated October 1, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Immunome's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Immunome undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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  2. Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, and Abzena, a partner research organization for integrated discovery to cGMP manufacturing solutions for biologics, today announced that Abzena was selected as Immunome's partner research organization for IMM-BCP-01, an investigational therapeutic antibody cocktail for the treatment of COVID-19 being developed to target multiple SARS-CoV-2 antigens. Abzena will work with Immunome to produce the antibody cocktail for clinical testing. In July 2020, Immunome was awarded a $13.3 million agreement executed by the United States Department of Defense's Joint Program Executive…

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, and Abzena, a partner research organization for integrated discovery to cGMP manufacturing solutions for biologics, today announced that Abzena was selected as Immunome's partner research organization for IMM-BCP-01, an investigational therapeutic antibody cocktail for the treatment of COVID-19 being developed to target multiple SARS-CoV-2 antigens. Abzena will work with Immunome to produce the antibody cocktail for clinical testing. In July 2020, Immunome was awarded a $13.3 million agreement executed by the United States Department of Defense's Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), in collaboration with the Defense Health Agency, to support this program.

    Jonathan Goldman, MD, CEO of Abzena, said, "Immunome has used an innovative biologics research platform to conduct large-scale B cell interrogation of COVID-19 super-responders to identify suitable antibodies. Sarma and his team at Immunome are visionary scientists and leaders in the field and we are very honored to have been selected as the service provider of choice for clinical good manufacturing practice (GMP) manufacturing of the Immunome antibody cocktail. We strongly believe in the potential clinical benefit of this agent and look forward to helping patients in need."

    Purnanand Sarma, PhD, CEO of Immunome, said, "We selected Abzena as our Contract Development and Manufacturing Organization (CDMO) partner due to scientific expertise, flexibility and ability to execute on our timeline, critical in these times when rapid response to the pandemic is required. We are excited that Jonathan and his team share our passion for science and delivering high quality patient outcomes. We hope to positively impact the landscape of the global pandemic through our new antibody-based therapeutic approach."

    About Immunome

    Immunome is a biopharmaceutical company utilizing our proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics designed to change the way diseases are currently being treated with an initial focus on oncology and infectious diseases, including COVID-19. Immunome's proprietary discovery platform identifies novel therapeutic antibodies and their targets by leveraging highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease. For more information, please visit www.immunome.com.

    About Abzena

    Abzena is a leading contract provider of integrated discovery, development and manufacturing services for biologics and bioconjugates. Abzena provides the most complete set of solutions in integrated early discovery to mid-phase biotherapeutic and bioconjugation drug development and manufacturing in the biopharmaceutical industry. The company maintains resources around the world, with facilities in the US and UK.

    Abzena investors include Welsh, Carson, Anderson & Stowe, one of the world's leading private equity investors, and Biospring Partners (https://www.biospring.com/). For more information, please see www.abzena.com.

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Immunome's beliefs and expectations regarding the advancement of its oncology and COVID-19 therapeutic antibody programs, execution of its clinical and strategic plans, anticipated upcoming milestones for IMM-BCP-01 and IMM‐ONC‐01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words "anticipate," believe," "estimate," "expect," "intend," "plan," "project," "may," "will," "could," "should," "seek" and similar expressions. Forward-looking statements are based on Immunome's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Immunome's business, operations, strategy, goals and anticipated milestones, Immunome's ability to execute on its strategy including with respect to the timing of IND filings and other anticipated milestones, Immunome's ability to fund operations, as well as those risks and uncertainties set forth more fully under the caption "Risk Factors" in the final prospectus dated October 1, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Immunome's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Immunome undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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  3. Findings support the potential of Immunome's approach to developing IMM-BCP-01 as an optimized antibody cocktail for the treatment and prophylaxis of COVID-19

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, announced the release of findings from its ongoing preclinical COVID-19 research program in a manuscript entitled "Unbiased Interrogation of Memory B Cells from Convalescent COVID-19 Patients Reveals A Broad Anti-Viral Humoral Response Targeting SARS-CoV-2 Antigens Beyond the Spike Protein."

    Key findings discussed in the manuscript include:

    • More than 50% of the antibodies isolated from super-responders are directed

    Findings support the potential of Immunome's approach to developing IMM-BCP-01 as an optimized antibody cocktail for the treatment and prophylaxis of COVID-19

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, announced the release of findings from its ongoing preclinical COVID-19 research program in a manuscript entitled "Unbiased Interrogation of Memory B Cells from Convalescent COVID-19 Patients Reveals A Broad Anti-Viral Humoral Response Targeting SARS-CoV-2 Antigens Beyond the Spike Protein."

    Key findings discussed in the manuscript include:

    • More than 50% of the antibodies isolated from super-responders are directed at non-Spike antigens, suggesting non-Spike related antibodies may play a significant role in the effective immunological clearance of this virus
    • Nucleocapsid proteins and the open reading frame-encoded (ORF) proteins, ORF8 and ORF10, represent the most prevalent non-Spike targets
    • Antibody response against both neutralizing and non-neutralizing epitopes on Spike protein are committed to B-cell memory
    • Response appears to extend beyond immunoglobulin G (IgG), comprising affinity-matured antibodies with specialized function (IgA and IgM)

    A pre-print of the article is available at this link; the article has not yet been peer reviewed.

    Purnanand Sarma, PhD, CEO of Immunome, said, "We believe that the broad response we observed to multiple viral proteins beyond just the Spike protein points towards an approach for developing an antibody cocktail, which could better mimic the natural human immune response against the SARS-Cov-2 infection. Furthermore, an optimized combination of antibodies could potentially overcome the high level of mutational drift we are seeing in the Spike protein."

    In July 2020, Immunome was awarded a $13.3 million agreement executed by the United States Department of Defense's Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), in collaboration with the Defense Health Agency, to support Immunome's COVID program. The research discussed in this press release and the article is part of that program.

    About Immunome

    Immunome is a biopharmaceutical company utilizing our proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics designed to change the way diseases are currently being treated with an initial focus on oncology and infectious diseases, including COVID-19. Immunome's proprietary discovery platform identifies novel therapeutic antibodies and their targets by leveraging highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease. For more information, please visit www.immunome.com.

    Forward-Looking Statements

    This press release and the article referenced within includes certain disclosures that contain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Immunome's beliefs and expectations regarding the advancement of its oncology and COVID-19 therapeutic antibody programs, execution of its clinical and strategic plans, anticipated upcoming milestones for IMM-BCP-01 and IMM‐ONC‐01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words "anticipate," believe," "estimate," "expect," "intend," "plan," "project," "may," "will," "could," "should," "seek" and similar expressions. Forward-looking statements are based on Immunome's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Immunome's business, operations, strategy, goals and anticipated milestones, Immunome's ability to execute on its strategy including with respect to the timing of IND filings, the initiation of clinical studies and other anticipated milestones, the timing and effectiveness of any antibody therapeutics which may be developed by Immunome, Immunome's ability to fund operations, as well as those risks and uncertainties set forth more fully under the caption "Risk Factors" in the final prospectus dated October 1, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Immunome's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Immunome undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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  4. President & CEO Purnanand Sarma Announced as the Recipient of TiE Boston's 2020 Lifetime Achievement Award

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, with a focus on oncology and infectious diseases including COVID-19, today announced the recent appointments of Richard Baron to Immunome's Board of Directors and as Audit Committee Chair, and Sandra Stoneman, Esq. as Chief Legal Officer and Corporate Secretary. The company also today announced that its President and Chief Executive Officer, Purnanand Sarma, Ph.D. is the recipient of TiE Boston's 2020 Lifetime Achievement Award. The award recognizes individuals who…

    President & CEO Purnanand Sarma Announced as the Recipient of TiE Boston's 2020 Lifetime Achievement Award

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, with a focus on oncology and infectious diseases including COVID-19, today announced the recent appointments of Richard Baron to Immunome's Board of Directors and as Audit Committee Chair, and Sandra Stoneman, Esq. as Chief Legal Officer and Corporate Secretary. The company also today announced that its President and Chief Executive Officer, Purnanand Sarma, Ph.D. is the recipient of TiE Boston's 2020 Lifetime Achievement Award. The award recognizes individuals who have made invaluable contributions in the fields of science, business and entrepreneurship.

    "I am thrilled to welcome Richard and Sandra to the Immunome team as we accelerate our efforts in discovering novel antibodies and advancing our lead programs into the clinic," said President and CEO, Purnanand Sarma, Ph.D. "The combination of their expertise and experience will be invaluable in supporting Immunome's growth." He further stated, "I am also honored to receive TiE Boston's 2020 Lifetime Achievement Award and very much appreciate the opportunity to continue to work with TiE in driving innovation and fostering next generation entrepreneurs."

    Richard Baron has over 30 years of experience as an advisor to companies in the pharmaceutical, biotechnology and medical device industries and as a Chief Financial Officer. He was previously the Chief Financial Officer of Zynerba Pharmaceuticals (NASDAQ:ZYNE), Globus Medical (NYSE:GMED), Avid Radiopharmaceuticals, Animas Corporation (NASDAQ:PUMP) and others. Baron was a practicing certified public accountant, beginning his career in audit and tax services at Coopers & Lybrand and Arthur Young. He received his B.S. in economics at The Wharton School of the University of Pennsylvania. Baron's background and experience advising life sciences companies and in finance and accounting added significantly to the Board's skills in these areas.

    Sandra Stoneman, Esq. is a seasoned attorney, with more than 20 years of experience advising high-growth companies in the life sciences and technology sectors. Prior to joining Immunome, Stoneman was an attorney at Duane Morris, leading the Firm's life sciences practice group. She has received numerous accolades for her transactional work in the life sciences field, including being continuously listed in U.S. News/Best Lawyers, Chambers USA and LMG Life Sciences. Stoneman received her J.D. from Temple University School of Law and her B.A. from the State University of New York at Binghamton.

    About Immunome, Inc.

    Immunome is a biopharmaceutical company utilizing our proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics designed to change the way diseases are currently being treated with an initial focus on oncology and infectious diseases, including COVID-19. Immunome's proprietary discovery platform identifies novel therapeutic antibodies and their targets by leveraging highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease.

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Immunome's beliefs and expectations regarding the advancement of its oncology and COVID-19 therapeutic antibody programs, execution of its clinical and strategic plans, anticipated upcoming milestones for IMM-BCP-01 and IMM‐ONC‐01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words "anticipate," believe," "estimate," "expect," "intend," "plan," "project," "may," "will," "could," "should," "seek" and similar expressions. Forward-looking statements are based on Immunome's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Immunome's business, operations, strategy, goals and anticipated milestones, Immunome's ability to execute on its strategy including with respect to the timing of IND filings, Immunome's ability to fund operations, as well as those risks and uncertainties set forth more fully under the caption "Risk Factors" in the final prospectus dated October 1, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Immunome's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Immunome undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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  5. - Completed $44.9M IPO in October -
    - Identified COVID 19 Neutralizing antibodies -
    - Significant progress made on lead programs, including IMM-BCP-01 for the treatment of COVID-19 in collaboration with US Department of Defense -

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, with a focus on oncology and infectious diseases including COVID-19, today announced third quarter 2020 financial results and recent highlights.

    "The completion of our recent IPO marks a significant milestone for Immunome and positions us to further accelerate the output of new discoveries from our platform, and to rapidly advance our lead oncology…

    - Completed $44.9M IPO in October -

    - Identified COVID 19 Neutralizing antibodies -

    - Significant progress made on lead programs, including IMM-BCP-01 for the treatment of COVID-19 in collaboration with US Department of Defense -

    Immunome, Inc. (NASDAQ:IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, with a focus on oncology and infectious diseases including COVID-19, today announced third quarter 2020 financial results and recent highlights.

    "The completion of our recent IPO marks a significant milestone for Immunome and positions us to further accelerate the output of new discoveries from our platform, and to rapidly advance our lead oncology and COVID-19 therapeutic antibody programs into the clinic," said Purnanand Sarma, PhD, President and CEO of Immunome. "We are on track to execute on our near-term clinical and strategic plans, including filing IND applications for two of our programs in 2021." Dr. Sarma further stated, "I am proud of the tremendous progress our team has made this year, particularly with regard to the notable effort and dedication supporting our accelerated development of antibody-based treatment targeting multiple viral antigens to treat the COVID-19 virus. As previously announced, Immunome was awarded a $13.3 million contract from the US Department of Defense to develop an antibody cocktail discovered by the interrogation of memory B cells from 'super-responders' to the SARS-CoV-2 virus (DoD Press Release)."

    Recent Highlights

    • In October 2020, Immunome completed an IPO, including the full exercise of the underwriters' option to purchase additional shares, resulting in gross proceeds of $44.9 million, before deducting underwriting commissions and offering expenses.
    • IMM-BCP-01: Unlike approaches solely directed at neutralizing the Spike protein by other companies, we aim to develop an antibody cocktail directed at multiple SARS-CoV-2 antigens. Unbiased interrogation of SARS-CoV-2 "super-responder" memory B cells using Immunome's discovery engine has resulted in the following advances:
      • We discovered that more than 50% of the antibodies isolated from super-responders are directed at non-Spike antigens, suggesting non-Spike related antibodies may play a significant role in the effective immunological clearance of this virus.
      • We also identified multiple neutralizing antibodies with picomolar affinity directed at SARS-CoV-2 Spike protein.
      • We discovered that, in addition to affinity matured IgG antibodies, COVID-19 "super-responders" appear to mount robust affinity-matured IgA responses. IgA antibodies are naturally found at the surface of respiratory track and function to prevent initial viral infection.
    • IMM-ONC-01: Our further pre-clinical testing continues to demonstrate that IL-38 appears to be a novel immune checkpoint. In animal models, our inhibitory antibody demonstrates antitumor effects in IL-38 expressing tumors.

    Third Quarter 2020 Financial Results:

    • Cash and cash equivalents: Cash and cash equivalents were $6.7 million as of September 30, 2020 compared to $2.5 million as of December 31, 2019.
    • IPO and net proceeds: On October 2, 2020 the Company's common stock began trading on the Nasdaq Capital Market under the ticker (IMNM) and on October 6, 2020 the IPO closed with the Company receiving net proceeds of $41.7 million, after deducting underwriting discounts but before deducting other offering expenses. After deducting other offering costs of approximately $2.8 million, aggregate net IPO proceeds to the Company were $38.9 million.
    • Research and development (R&D) expenses: R&D expenses were $1.6 million for the quarter ended September 30, 2020 compared to $2.2 million for the quarter ended September 30, 2019 and $5.7 million for the nine month period ended September 30, 2020 compared to $6.4 million for the nine month period ended September 30, 2019.
    • General and administrative (G&A) expenses: G&A expenses were $1.2 million for the quarter ended September 30, 2020 compared to $0.5 million for the quarter ended September 30, 2019 and $2.5 million for the nine month period ended September 30, 2020 compared to $1.1 million for the nine month period ended September 30, 2019.
    • Net loss: Net loss attributable to common stockholders was $8.4 million or $7.52 per share for the quarter ended September 30, 2020 compared to $2.7 million or $2.50 per share for the quarter ended September 30, 2019 and $13.8 million or $12.44 per share for the nine month period ended September 30, 2020 compared to $7.5 million or $6.88 per share for the nine month period ended September 30, 2019.

    About Immunome, Inc.

    Immunome is a biopharmaceutical company utilizing our proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics designed to change the way diseases are currently being treated. Immunome's proprietary discovery platform identifies novel therapeutic antibodies and their targets by leveraging highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease.

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Immunome's beliefs and expectations regarding the advancement of its oncology and COVID-19 therapeutic antibody programs, execution of its clinical and strategic plans, anticipated upcoming milestones for IMM-BCP-01 and IMM‐ONC‐01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words "anticipate," believe," "estimate," "expect," "intend," "plan," "project," "may," "will," "could," "should," "seek" and similar expressions. Forward-looking statements are based on Immunome's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Immunome's business, operations, strategy, goals and anticipated milestones, Immunome's ability to execute on its strategy including with respect to the timing of IND filings, Immunome's ability to fund operations, as well as those risks and uncertainties set forth more fully under the caption "Risk Factors" in the final prospectus dated October 1, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Immunome's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Immunome undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

     

    IMMUNOME, INC.

    Condensed Balance Sheets

    (Unaudited; In thousands, except share and per share data)

     

     

     

     

     

     

     

     

     

    September 30, 2020

     

    December 31, 2019

    Assets

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

    Cash

     

    $

    6,744

     

    $

    2,543

    Prepaid expenses and other current assets

     

     

    739

     

     

    579

    Total current assets

     

     

    7,483

     

     

    3,122

    Property and equipment, net

     

     

    1,741

     

     

    1,700

    Restricted cash

     

     

    100

     

     

    100

    Other assets

     

     

    2,659

     

     

    138

    Total assets

     

    $

    11,983

     

    $

    5,060

    Liabilities, convertible preferred stock, and stockholders' deficit

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

    Current portion of capital lease obligations

     

    $

     

    $

    239

    Current portion of equipment loan payable

     

     

    144

     

     

    212

    Current portion of long-term debt

     

     

    305

     

     

    Accounts payable

     

     

    2,627

     

     

    548

    Accrued expenses and other current liabilities

     

     

    2,330

     

     

    666

    Total current liabilities

     

     

    5,406

     

     

    1,665

    Equipment loan payable, net of current portion

     

     

    16

     

     

    113

    Long-term debt, net of current portion

     

     

    195

     

     

    Warrant liability

     

     

    7,071

     

     

    Deferred rent

     

     

    11

     

     

    18

    Total liabilities

     

     

    12,699

     

     

    1,796

     

     

     

     

     

     

     

    Series A convertible preferred stock, $0.0001 par value; 45,000,000 and 30,000,000 shares authorized and 5,670,184 and 4,443,259 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively (liquidation value of $51,033 at September 30, 2020)

     

     

    48,369

     

     

    38,894

    Stockholders' deficit:

     

     

     

     

     

     

    Common stock, $0.0001 par value; 65,000,000 and 50,000,000 shares authorized and 1,124,616 and 1,099,270 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively

     

     

     

     

    Additional paid-in capital

     

     

    1,236

     

     

    927

    Accumulated deficit

     

     

    (50,321)

     

     

    (36,557)

    Total stockholders' deficit

     

     

    (49,085)

     

     

    (35,630)

    Total liabilities, convertible preferred stock, and stockholders' deficit

     

    $

    11,983

     

    $

    5,060

     

    IMMUNOME, INC.

    Condensed Statements of Operations

    (Unaudited; In thousands, except share and per share data)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended September 30,

     

    Nine Months Ended September 30,

     

     

    2020

     

    2019

     

    2020

     

    2019

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

     

    $

    1,644

     

    $

    2,234

     

    $

    5,651

     

    $

    6,391

    General and administrative

     

     

    1,174

     

     

    486

     

     

    2,537

     

     

    1,069

    Total operating expenses

     

     

    2,818

     

     

    2,720

     

     

    8,188

     

     

    7,460

    Loss from operations

     

     

    (2,818)

     

     

    (2,720)

     

     

    (8,188)

     

     

    (7,460)

    Other expenses:

     

     

     

     

     

     

     

     

     

     

     

     

    Change in fair value of warrant liability

     

     

    (5,549)

     

     

     

     

    (5,549)

     

     

    Interest expense, net

     

     

    (10)

     

     

    (17)

     

     

    (27)

     

     

    (62)

    Total other expenses

     

     

    (5,559)

     

     

    (17)

     

     

    (5,576)

     

     

    (62)

    Net loss

     

    $

    (8,377)

     

    $

    (2,737)

     

    $

    (13,764)

     

    $

    (7,522)

    Per share information:

     

     

     

     

     

     

     

     

     

     

     

     

    Net loss per share of common stock, basic and diluted

     

    $

    (7.52)

     

    $

    (2.50)

     

    $

    (12.44)

     

    $

    (6.88)

    Weighted-average common shares outstanding, basic and diluted

     

     

    1,114,427

     

     

    1,093,028

     

     

    1,106,039

     

     

    1,092,630

     

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