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Immunome (IMNM)

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.

IMNM stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 22
24 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 34.75M 34.75M 34.75M 34.75M 34.75M 34.75M
Cash burn (monthly) 2.74M 2.1M 2.98M 3.01M 2.69M 2.12M
Cash used (since last report) 7.79M 5.96M 8.45M 8.56M 7.63M 6.01M
Cash remaining 26.96M 28.79M 26.3M 26.19M 27.12M 28.74M
Runway (months of cash) 9.8 13.7 8.8 8.7 10.1 13.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Jun 22 Richard A Baron Stock Option Common Stock Grant Acquire A No No 2.62 6,500 17.03K 6,500
16 Jun 22 Michael Lefenfeld Stock Option Common Stock Grant Acquire A No No 2.62 6,500 17.03K 6,500
16 Jun 22 Lamattina John L Stock Option Common Stock Grant Acquire A No No 2.62 6,500 17.03K 6,500
16 Jun 22 Rapp Michael Stock Option Common Stock Grant Acquire A No No 2.62 6,500 17.03K 6,500
16 Jun 22 Prendergast Franklyn G Stock Option Common Stock Grant Acquire A No No 2.62 6,500 17.03K 6,500
8.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 32 32
Opened positions 3 6 -50.0%
Closed positions 3 10 -70.0%
Increased positions 6 13 -53.8%
Reduced positions 9 2 +350.0%
13F shares Current Prev Q Change
Total value 24.83M 45.77M -45.7%
Total shares 3.36M 3.45M -2.8%
Total puts 28.7K 41.5K -30.8%
Total calls 35.5K 95.9K -63.0%
Total put/call ratio 0.8 0.4 +86.8%
Largest owners Shares Value Change
Alpine Global Management 877.24K $5.09M +1.7%
Prentice Capital Management 792.32K $4.5M -1.8%
Longboat Family Office 660.48K $9.4M 0.0%
Vanguard 370.54K $2.11M -1.5%
Cerity Partners 93.55K $531K -1.2%
BMO Bank of Montreal 92.59K $556K 0.0%
Geode Capital Management 81.41K $462K +1.8%
Atom Investors 39.77K $226K -13.3%
BLK Blackrock 39.57K $224K -2.6%
Susquehanna International 33.77K $192K -48.4%
Largest transactions Shares Bought/sold Change
MS Morgan Stanley 13.73K -64.98K -82.6%
Susquehanna International 33.77K -31.68K -48.4%
Baldwin Investment Management 25.39K +25.39K NEW
Citadel Advisors 0 -21.22K EXIT
First Republic Investment Management 15.27K +15.27K NEW
Alpine Global Management 877.24K +15.06K +1.7%
Prentice Capital Management 792.32K -14.2K -1.8%
Renaissance Technologies 14K +14K NEW
Marshall Wace 0 -10.65K EXIT
BAC Bank Of America 0 -6.24K EXIT

Financial report summary

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Risks
  • We are a preclinical stage biopharmaceutical company with a history of losses. We expect to continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability.
  • We will need to raise substantial additional funds to advance development of potential product candidates and our discovery platform, and we cannot guarantee that we will have sufficient funds available in the future to develop and commercialize our potential future product candidates.
  • We may be unable to advance any potential product candidates through clinical development, obtain regulatory approval and ultimately commercialize any of our product candidates, or we may experience significant delays in doing so.
  • We may not be successful in our efforts to use and expand our discovery engine to build a pipeline of product candidates.
  • We may expend our limited resources and access to capital to pursue a particular product candidate; these decisions may prove to be wrong and may adversely impact our business.
  • If any of our future product candidates are ever tested in human subjects, they may not demonstrate the combination of safety and efficacy necessary to become approvable or commercially viable.
  • Our pursuit of IMM-BCP-01 presents specific risks not present for programs targeting other conditions.
  • We have obtained rights to use human samples in furtherance of our research and development of our potential future product candidates. However, if we failed to obtain appropriate permission to use these samples or exceed the scope of the permissions given, our program could be adversely affected.
  • Clinical trials are expensive, time-consuming and difficult to design and implement.
  • Clinical development has an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Preliminary results from our preclinical studies and clinical trials that we announce or publish from time to time may change as more patient data becomes available and as the data undergoes audit and verification procedures.
  • We may not elect or be able to take advantage of any expedited development or regulatory review and approval processes available to product candidates granted breakthrough therapy or fast track designation by the FDA.
  • The market may not be receptive to our potential future product candidates, and we may not generate any revenue from the sale, partnering or licensing of our product candidates.
  • If the market opportunities for our potential future product candidates are smaller than we believe they are, our future product revenues may be adversely affected, and our business may suffer.
  • If any potential future product candidate begins clinical trials or receives marketing approval and we or others later identify undesirable side effects caused by the product candidate, our ability to market and derive revenue from the product candidate could be compromised.
  • If any of our product candidates is approved for marketing and commercialization in the future and we are unable to develop sales, marketing and distribution capabilities on our own or enter into agreements with third parties to perform these functions on acceptable terms, we will be unable to successfully commercialize any such future products.
  • Additional regulatory burdens and other risks and uncertainties in foreign markets may limit our growth.
  • Our business entails a significant risk of product liability, which may not be sufficiently covered by our insurance.
  • If we choose to pursue strategic transactions, we may not be able to enter into such transactions on acceptable terms, if at all, which could adversely affect our ability to develop and commercialize potential future product candidates, impact our cash position, increase our expense, and present significant distractions to our management.
  • If third parties on which we intend to rely to conduct our current and future preclinical and clinical studies do not perform as contractually required, fail to satisfy regulatory or legal requirements or miss expected deadlines, our programs could be delayed with material and adverse impacts on our business and financial condition.
  • Because we may rely on third parties for manufacturing, supply and testing of our future product candidates, some of which may be sole source vendors, for preclinical and clinical development materials and commercial supplies, our supply may become limited or interrupted or may not be of satisfactory quantity or quality.
  • in the event of approval to market and commercialize a product candidate, an inability to meet commercial demands for our products. We may be unable to successfully scale manufacturing of our potential future product candidates in sufficient quality and quantity, which would delay or prevent us from developing product candidates and commercializing approved products, if any.
  • Our significant reliance on third-party vendors could impair our ability to implement our business plan.
  • Any inability to attract and retain qualified key management, technical personnel and employees would impair our ability to implement our business plan.
  • We may experience difficulties in managing our growth and expanding our operations.
  • Our employees, principal investigators, consultants and commercial partners may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • A cyber-attack or breach of our information technology systems could cause substantial costs, significant liabilities, harm to our brand and business disruption a material adverse effect on our business.
  • If we do not comply with laws regulating the protection of the environment and health and human safety, our business could be adversely affected.
  • Our current laboratory operations are concentrated in one location, and we or the third parties upon whom we depend on may be adversely affected by natural or other disasters and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • If we are unable to obtain or protect intellectual property rights related to our technology and future product candidates, or if our intellectual property rights are inadequate, we may not be able to compete effectively.
  • If we fail to comply with our obligations under any license, collaboration or other intellectual property-related agreements, we may be required to pay damages and could lose intellectual property rights that may be necessary for developing, commercializing and protecting our current or future technologies or product candidates or we could lose certain rights to grant sublicenses.
  • Patent terms may not be able to protect our competitive position for an adequate period of time with respect to our current or future technologies or product candidates.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our current or any future technologies or product candidates.
  • Other companies or organizations may challenge our or our licensors’ patent rights or may assert patent rights that prevent us from developing and commercializing any future product candidates.
  • We may not be able to protect our intellectual property rights throughout the world, which could negatively impact our business.
  • Third parties may initiate legal proceedings alleging that we are infringing, misappropriating or violating their intellectual property rights, the outcome of which would be uncertain and could have a material adverse impact on the success of our business.
  • Intellectual property rights of third parties could adversely affect our ability to commercialize our current or future technologies or product candidates, and we might be required to litigate or obtain licenses from third parties to develop or market our current or future technologies or product candidates, which may not be available on commercially reasonable terms or at all.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that we or our employees or consultants have wrongfully used or disclosed alleged trade secrets or other proprietary information of our employees’ or consultants’ former employers or their clients.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by government patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats to our business.
  • Failure to comply with health and data protection laws and regulations could lead to government enforcement actions (which could include civil or criminal penalties), private litigation or adverse publicity and could negatively affect our operating results and business.
  • Healthcare legislative reform measures may have a material adverse effect on our business and results of operations.
  • If we or potential future partners, manufacturers or service providers fail to comply with healthcare laws and regulations, we or they could be subject to enforcement actions, which could affect our ability to develop, market and sell our products and may harm our reputation.
  • Any future product candidates for which we intend to seek approval as biologic products may face competition sooner than anticipated.
  • Disruptions at the FDA, the SEC and other government agencies caused by funding shortages or global health concerns could hinder their ability to hire and retain key leadership and other personnel, or otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • If we fail to comply with U.S. and foreign regulatory requirements, regulatory authorities could limit or withdraw any marketing or commercialization approvals we may receive and subject us to other penalties that could materially harm our business.
  • Even if we are able to commercialize any product candidate, the product candidate may become subject to unfavorable pricing regulations or third-party coverage and reimbursement policies, which would harm our business.
  • We are subject to U.S. and foreign anti-corruption and anti-money laundering laws with respect to our operations and non-compliance with such laws can subject us to criminal or civil liability and harm our business.
  • Our stock price may be volatile, and purchasers of our common stock could incur substantial losses.
  • Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
  • Sales of a substantial number of shares of our common stock by our existing stockholders in the public market could cause our stock price to fall.
  • Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to our 2020 Plan, could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.
  • We are an “emerging growth company” and our election of reduced reporting requirements applicable to emerging growth companies may make our common stock less attractive to investors.
  • We have incurred and will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • Our ability to use our net operating loss carryforwards and certain tax credit carryforwards may be subject to limitation.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • We have previously identified material weaknesses in our internal control over financial reporting, which have since been remediated. If we experience future material weaknesses or otherwise fail to maintain an effective system of internal controls in the future, we may not be able to accurately report our financial condition or results of operations.
  • Capital appreciation, if any, will be a stockholder’s sole source of gain.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • The choice of forum provision in our certificate of incorporation limits our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
Management Discussion
  • The ultimate extent of the impact of any epidemic, pandemic, outbreak, or other public health crisis on our results of operations will depend on future developments, which are highly uncertain, including new information that may emerge concerning the severity of COVID-19 and its variants or other public health crisis and actions taken to contain or prevent the further spread, among others. Accordingly, we cannot fully predict the extent to which our business and results of operations will be affected by the pandemic.
  • Research and development expenses were $5.7 million and $3.2 million, net of DoD reimbursement for the three months ended June 30, 2022 and 2021, respectively.
  • Research and development expenses increased by $2.5 million for the three months ended June 30, 2022. This increase is primarily due to a $4.1 million reduction of contra-research and development expense as a result of a reduction in BCP-01 program spending and reimbursable related expenses under the DoD agreement during the three months ended June 30, 2022. Contra-research and development expenses offsets the expenses recognized in the period

Content analysis

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H.S. sophomore Avg
New words: chain, deemed, disruption, effector, extension, gastroesophageal, inflammation, inflation, labor, Omicron, refundable, regulator, retention, shifting, shortage, spending, supply, topline, Treasury
Removed: begun, ultimately