1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
IMNM
Event Date
2020-10-02
IPO Date (Actual)
2020-09-30
Sector
Health Care
Subsector
Pharmaceuticals
Offer Range
$12.00-$12.00
Shares Offered
3.25M
10.54M
$126.5M
30.8%
Implied Upside vs Midpoint
Description
We are 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. Our proprietary discovery platform identifies novel therapeutic antibodies and their targets by leveraging highly educated components of the immune system, memory B cells, from patients who have learned to fight off their disease. Our platform is differentiated from those of other biotechnology companies because of our unbiased, broad, deep and efficient approach to identifying novel antibody-target pairs that may be useful in treating cancer and infectious diseases. To date, we have processed more than 150 cancer patient memory B cell samples and have generated and screened more than 250,000 hybridomas, or forms of B cell clones, produced by fusion with an immortal partner cell line. The resulting immortalized hybrid cells produce a single antibody for extended periods of time, and we have successfully identified approximately 1,200 individual antibodies, which we refer to as hits, that appear to bind either a cancer cell or a tumor extract with high-affinity and specificity. One of these unique targets is interleukin-38, or IL-38, a small protein, secreted by various cells of the body, which appears to function as a novel immune checkpoint inhibitor, and is the current focus of our lead discovery program, IMM-ONC-01. Upon successful completion of our preclinical evaluation, we expect to file an investigational new drug, or IND, application with the U.S. Food & Drug Administration, or FDA, in connection with this program in the second half of 2021. Our primary focus is oncology, but our technology may also have immediate applications in the discovery of new therapeutics for infectious diseases. Despite many elements that distinguish oncology from infectious diseases, we believe that our platform will enable the discovery of novel antibodies directed at SARS-CoV-2 for the treatment and prevention of COVID-19. We anticipate screening for novel antibodies that bind viral antigens may be relatively simpler relative to oncology, since viral diseases, such as COVID-19, involve fewer potential antigens represented in the much smaller viral genome. We are currently developing a therapeutic approach to combat the SARS-CoV-2 virus and the COVID-19 pandemic, in collaboration with the United States Department of Defense, or DoD. We seek to identify effective anti-viral antibodies produced by the memory B cells from COVID-19 convalescent patients who have cleared their infections and have high levels of circulating, high-affinity anti-viral antibodies, who we refer to as “super-responders.” Our aim is to identify a mixture of up to six different anti-viral antibodies and produce them recombinantly to be used as a “biosynthetic convalescent plasma,” or BCP. We expect to progress IMM-BCP-01, our BCP program, to an IND application in the first half of 2021. Our proprietary hybridoma library generation and screening platform, which we refer to as the Immunome Discovery Engine, reveals how a patient’s immune system recognizes and selectively attacks the key differences that exist between healthy tissue and a tumor cell or a pathogen in an unbiased manner and with high efficiency. We intend to leverage the output from our engine to develop novel antibody based therapeutics directed at antigens that are prevalent in a broader patient population, or “public antigens,” in areas of high unmet need, such as cancer and infectious diseases, including COVID-19. We anticipate the efficiency of our engine will result in advancing one to two antibody product candidates into IND-enabling studies every year. --- We were originally incorporated in Pennsylvania in March 2006 and reincorporated in Delaware in December 2015. Our principal executive offices are located at 665 Stockton Drive, Suite 300, Exton, Pennsylvania 19341, and our telephone number is (610) 321-3700. Our website address is www.immunome.com.
Immunome Inc. annual income statement and balance sheet, FY 2020 to FY 2025, as reported in SEC filings.
| Metric | FY 2020 | FY 2021 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | — | — | $9.0M | $6.9M |
| Operating income | ($12.3M) | ($25.2M) | ($306M) | ($224M) |
| Net income | ($17.8M) | ($24.7M) | ($293M) | ($212M) |
| Metric | FY 2020 | FY 2021 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Total assets | $44.5M | $57.9M | $240M | — |
| Total liabilities | $3.2M | $9.7M | $59.1M | — |
| Total equity | $41.3M | $48.2M | $181M | — |
| Cash & equivalents | $39.8M | $49.2M | $143M | — |