Immunome Inc.
IMNM · Pharmaceutical Preparations · 113.3M shares · +104%/yr ↑ dilution · EDGAR filings ↗
Reference price $18.23 · est. market cap ~$2.1B — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — oncology clinical (varegacestat), heavy burn, very well-funded.
Strengths
- Liquidity — current ratio 14.7 (90th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -3060.0%)
- Cash burnNegative free cash flow (-200.6M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +104%/yr over 4y (dilution, book value/share -24%)
- Trial resultPositive trial readout — primary endpoint met (8-K) 8-K ↗
- Insider buyingInsider buying — 7 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$852,032, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $653M cash & investments, ~13 quarters of runway
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 8 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$4M, last 6mo) Form 4 ↗
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Revenue declineRevenue -23.2% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-3228.8%
Net margin
-3060.0%
Return on equity
-33.5%
Return on assets
-31.1%
Revenue growth (QoQ)
-23.2%
Current ratio
14.7×
Free cash flow
-$201M
EBITDA
-$222M
Tangible book value
$634M
Cash & investments
$653M
Cash runway
13q
Stock comp / revenue
370.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Rosett Max | Option exercise | 60K | $1.05 |
| 2026-06-15 | Rosett Max | Sell | 60K | $18.23 |
| 2026-06-05 | BIENAIME JEAN JACQUES | Sell | 10K | $19.41 |
| 2026-06-05 | BIENAIME JEAN JACQUES | Buy | 3.5K | $19.46 |
| 2026-06-05 | BIENAIME JEAN JACQUES | Buy | 1.0K | $19.27 |
| 2026-06-05 | BIENAIME JEAN JACQUES | Buy | 6.0K | $19.48 |
| 2026-06-05 | BIENAIME JEAN JACQUES | Sell | 500 | $19.44 |
| 2026-05-15 | BIENAIME JEAN JACQUES | Buy | 5.0K | $20.70 |
| 2026-04-02 | Rosett Max | Sell | 64K | $21.91 |
| 2026-04-02 | Rosett Max | Option exercise | 32K | $1.05 |
| 2026-04-02 | Rosett Max | Option exercise | 40K | $1.35 |
| 2026-04-02 | Rosett Max | Sell | 1.3K | $22.48 |
| 2026-04-02 | Higgins Jack | Sell | 9.4K | $21.64 |
| 2026-03-30 | Higgins Jack | Gift | 6.3K | — |
| 2026-03-27 | SIEGALL CLAY B | Buy | 25K | $19.67 |
| 2026-03-23 | WAGENHEIM PHILIP | Sell | 28K | $20.65 |
| 2026-03-20 | WAGENHEIM PHILIP | Sell | 37K | $20.47 |
| 2026-03-11 | BIENAIME JEAN JACQUES | Buy | 1.0K | $21.55 |
| 2026-03-10 | BIENAIME JEAN JACQUES | Buy | 1.0K | $22.12 |
| 2025-12-30 | SIEGALL CLAY B | Buy | 4.7K | $21.15 |
| 2025-12-22 | Barchas Isaac | Sell | 372K | $21.72 |
| 2025-12-22 | Barchas Isaac | Sell | 11K | $22.34 |
| 2025-12-19 | Tsai Philip | Buy | 10K | $20.49 |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | Higgins Jack | Gift | 1.0K | — |
| 2025-12-19 | SIEGALL CLAY B | Buy | 7.3K | $20.48 |
| 2025-12-19 | SIEGALL CLAY B | Gift | 200K | — |
| 2025-12-18 | SIEGALL CLAY B | Buy | 47K | $21.50 |
| 2025-09-10 | Higgins Jack | Option exercise | 22K | $1.35 |
| 2025-06-03 | BIENAIME JEAN JACQUES | Buy | 5.0K | $9.38 |
| 2025-03-27 | Higgins Jack | Option exercise | 5.2K | $1.35 |
| 2025-03-26 | SIEGALL CLAY B | Buy | 137K | $7.29 |
| 2025-03-25 | BIENAIME JEAN JACQUES | Buy | 7.8K | $7.78 |
| 2025-03-24 | BIENAIME JEAN JACQUES | Buy | 7.0K | $8.21 |
| 2025-03-24 | Tsai Philip | Buy | 12K | $8.42 |
| 2025-01-31 | SIEGALL CLAY B | Buy | 150K | $7.75 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07505771 ↗ | A Phase 1 Study of 177Lu-IM-3050 in Participants With Advanced Cancer Solid Malignancies | EARLY_PHASE1 | Recruiting | 2029-12-01 |
| NCT07578571 ↗ | A Phase 1 Study of IM-1617 in Participants With Advanced Cancer Colorectal Cancer, Non-Small Cell Lung Cancer | PHASE1 | Recruiting | 2029-01-01 |
| NCT06823167 ↗ | A Phase 1 Study of IM-1021 in Participants With Advanced Cancer Solid Malignancies, Hematologic Malignancies | PHASE1 | Recruiting | 2028-05-01 |
| NCT07610005 ↗ | A Relative Bioavailability and Bioequivalence Study of Varegacestat in Healthy Participants Healthy | PHASE1 | Recruiting | 2026-06-01 |
| NCT04871282 ↗ | A Study of AL102 in Patients With Progressing Desmoid Tumors Desmoid, Desmoid Tumor | PHASE2/PHASE3 | Active Not Recruiting | 2025-12-03 |
| NCT06841315 ↗ | A Varegacestat Hepatic Impairment Study Healthy Volunteer, Hepatic Impairment (HI) | PHASE1 | Completed | 2025-11-05 |
| NCT06855264 ↗ | A Cardiac Liability Study of Varegacestat in Healthy Participants Healthy Volunteer | PHASE1 | Completed | 2025-04-08 |
| NCT06845852 ↗ | A Phase 1 Mass Balance Study of Varegacestat Healthy Volunteer | PHASE1 | Completed | 2025-03-11 |
| NCT06677996 ↗ | A Phase 1 Study to Examine the Effects of Itraconazole After Single Dose Administration of Varegacestat (AL102) to Healthy Participants Healthy Volunteer | PHASE1 | Completed | 2024-12-30 |
| NCT05429021 ↗ | IMM-BCP-01 in Mild to Moderate COVID-19 SARS-CoV2 Infection, COVID-19 | PHASE1 | Terminated | 2023-01-06 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-09 | 0001193125-26-269383 ↗ |
| 10-Q | 2026-05-12 | 2026-03-31 | 0001193125-26-219425 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001193125-26-219367 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001193125-26-088172 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001193125-26-088141 ↗ |
| 8-K | 2025-12-17 | 2025-12-16 | 0001193125-25-322877 ↗ |
| 8-K | 2025-12-15 | 2025-12-15 | 0001193125-25-318429 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001193125-25-269538 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-269603 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0000950170-25-104015 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0000950170-25-104035 ↗ |
| 8-K | 2025-06-11 | 2025-06-10 | 0001104659-25-058523 ↗ |