Immunome Reports Fourth Quarter and Full Year 2020 Financial Results

Immunome

EXTON, PA — Immunome, Inc. (Nasdaq: IMNM) recently reported financial results for the fourth quarter and full year ended December 31, 2020 and provided a corporate update.

“The fourth quarter of 2020 was a transformational period for Immunome thanks to our successful initial public offering on the NASDAQ exchange, which raised $44.9 million in gross proceeds,” said Purnanand Sarma, Ph.D., President and CEO of Immunome. “That positive momentum continued into 2021, with our recent announcements covering the isolation of antibodies capable of neutralizing SARS-CoV-2 variants in pseudovirus testing as part of our IMM-BCP-01 program, and the advancement of IMM-ONC-01, our proprietary antibody against IL-38 for the potential treatment of solid tumors including malignancies of high unmet need such as cancers of the head and neck and the lung, into IND-enabling studies.”

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Dr. Sarma continued: “Looking ahead, we expect to provide development program updates in the second quarter of 2021 and to file INDs for both IMM-BCP-01 and IMM-ONC-01 in 2021. We remain excited about the prospects for both of our current development programs and reiterate the confidence we have in our discovery engine to move one to two new candidates into IND-enabling studies per year. I very much look forward to updating you on our progress in the months ahead.”

Financial Highlights

  • Cash and cash equivalents: As of December 31, 2020, cash and cash equivalents totaled $39.8 million.
  • Research and development (R&D) expenses: R&D expenses for the three months ended December 31, 2020, were $1.8 million. R&D expenses for the year ended December 31, 2020, were $7.5 million.
  • General and administrative (G&A) expenses: G&A expenses for the three months ended December 31, 2020, were $2.2 million. G&A expenses were $4.8 million for the year ended December 31, 2020.
  • Net loss: Net loss attributable to common stockholders was $4.1 million, or $0.40 per share, for the three months ended December 31, 2020. Net loss attributable to common stockholders was $17.8 million, or $5.26 per share, for the year ended December 31, 2020.
  • As of December 31, 2020, Immunome had 10,634,245 shares of common stock outstanding.
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Headquartered in Exton, PA, 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.

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