IMNM

Inducement Awards Granted: Immunome, Inc. announced the granting of non-statutory stock options to five new employees, totaling 228,000 shares, as part of their 2024 Inducement Plan, with an exercise price of $6.26 per share and a four-year vesting schedule.

Company Overview: Immunome is a clinical-stage biotechnology company focused on developing innovative targeted cancer therapies, including several pipeline programs currently in various stages of clinical trials.

Stock Purchase by Executives: Immunome's stock rose approximately 5% following share purchases by its Chief Technology Officer, Philip Tsai, who bought 12,300 shares at $8.42 each, and director Jean Jacques Bienaime, who purchased 7,000 shares at $8.21 each.

Company Financial Moves: Immunome is actively raising funds, having priced an upsized public offering to generate $150 million, while also competing in the market with their product Varegacestat.

U.S. Stock Market Performance: U.S. stock futures are slightly up, with the S&P500 gaining 0.1% and Nasdaq 100 up 0.2%. Consumer Discretionary and Communications Services sectors performed well, while Healthcare and Utilities lagged behind; investors remain optimistic despite disappointing Consumer Confidence data.

Commodities and Earnings Highlights: WTI Crude Oil prices stay above $69 per barrel amid a significant draw in API Petroleum inventories, indicating rising demand. SurgePays saw a notable increase of 95.7% after earnings, alongside other companies like GameStop and Paysign also experiencing gains.

Insider Trading Activity: Immunome's CTO Philip Tsai purchased 12.3K shares of the company's stock for $103.6K, leading to a 5% increase in share price after hours.

Financial Performance Update: Immunome reported FY24 revenue of $9.04M, slightly below the consensus estimate of $9.41M, and had its price target lowered by Guggenheim from $35 to $25.

Analyst Ratings on Immunome, Sanofi, and MacroGenics: Analysts from Leerink Partners have maintained bullish ratings on Immunome (Buy, target $38), Sanofi (Buy, target $125.13), and MacroGenics (Buy, target $8), indicating positive sentiment in the healthcare sector despite varying performance metrics among analysts.

Market Consensus and Price Targets: The consensus for Immunome is a Strong Buy with a target of $24.67, while Sanofi has a Moderate Buy rating with an 11.6% upside, and MacroGenics holds a Hold rating with a significant potential upside of 244.8%.

Immunome Analyst Rating: Immunome received a Buy rating from LifeSci Capital with a price target of $20.00, despite its shares currently trading near a 52-week low at $8.77. The overall analyst consensus suggests a Moderate Buy with the same price target.

Monte Rosa Therapeutics Analyst Rating: Monte Rosa Therapeutics was also given a Buy rating by LifeSci Capital, with a price target of $19.00, while its shares are priced at $6.27. The general analyst consensus indicates a Moderate Buy with an average price target of $15.00.

Coverage Initiation: LifeSci Capital has started coverage of Immunome (IMNM) with an Outperform rating and a price target of $20.

Recent Developments: Immunome has recently dosed its first patient in the IM-1021 trial and announced a $125 million common stock offering.

First Patient Dosed in Clinical Trial: Immunome, Inc. has announced the dosing of the first patient in a Phase 1 trial for IM-1021, a ROR1-targeted antibody-drug conjugate (ADC) aimed at treating B-cell lymphomas and solid tumors.

Company Overview and Pipeline: Immunome is focused on developing innovative targeted cancer therapies, with its pipeline including IM-1021, varegacestat in Phase 3 trials, and other preclinical ADCs targeting various solid tumors.

Immunome's Clinical Trial Announcement: Immunome (IMNM) has initiated a Phase 1, first-in-human trial for IM-1021, a ROR1-targeted antibody-drug conjugate (ADC), with the first patient now dosed.

Stock Market Updates: Immunome has also announced a $125 million common stock offering and is currently involved in pricing discussions for its shares, which are set between $7.50 and $8.00.

Investor Conferences Participation: Immunome, Inc. will participate in two investor conferences in March 2025, including the TD Cowen 45th Annual Health Care Conference and the Leerink Partners Global Healthcare Conference, with live webcasts available on their investor website.

Pipeline Overview: The company is focused on developing targeted cancer therapies, with key programs such as varegacestat in Phase 3 trials and several preclinical antibody-drug conjugates (ADCs) targeting various solid tumors.

Leadership Transition at Aro Biotherapeutics: Co-founder Susan Dillon, Ph.D., will step down as CEO but remain as chair of the Board of Directors, while Purnanand Sarma, Ph.D., has been appointed as the new CEO to guide the company's growth and development of its siRNA medicines.

Focus on Drug Development: Dr. Sarma will lead the advancement of Aro's pipeline, particularly the investigational treatment ABX1100 for Pompe disease, which has shown promising results in early trials and received special designations from the FDA.

Insider Buying Activity: CEO Clay B. Siegall of Immunome purchased 150,000 shares at $7.75 each, totaling $1.16M, marking his third purchase in the past year with a total investment of $2.35M at an average price of $11.75 per share.

Stock Performance: Immunome's stock is currently up about 6.4%, and Siegall's recent purchase has resulted in a gain of approximately 45.9% based on the trading high of $11.31.

Insider Trading Activity: Clay B. Siegall, President and CEO of $IMNM, purchased 150,000 shares for approximately $1.16 million, increasing his holdings by 28.9%, while insiders have made a total of 8 trades in the past 6 months, predominantly purchases.

Institutional Investor Movements: In the latest quarter, 68 institutional investors increased their positions in $IMNM stock, while 44 reduced theirs, indicating mixed sentiment among larger shareholders.

Immunome's Public Offering: Immunome, Inc. has successfully closed an underwritten public offering of 22,258,064 shares of common stock at $7.75 per share, raising gross proceeds of $172.5 million.

Company Overview and Pipeline: Immunome is a clinical-stage biotechnology company focused on developing targeted cancer therapies, with several promising programs in its pipeline, including treatments for desmoid tumors and various antibody-drug conjugates.

Public Offering Announcement: Immunome, Inc. has successfully closed an underwritten public offering of 22,258,064 shares of common stock at $7.75 per share, raising gross proceeds of $172.5 million.

Company Overview: Immunome is a clinical-stage biotechnology company focused on developing targeted cancer therapies, with several promising pipeline programs including a Phase 3 trial for desmoid tumors and various preclinical antibody-drug conjugates.

Public Offering Announcement: Immunome, Inc. has priced a public offering of 19,354,839 shares of common stock at $7.75 per share, aiming to raise approximately $150 million before expenses, with the offering expected to close on January 31, 2025.

Company Overview: Immunome is a clinical-stage biotechnology company focused on developing targeted cancer therapies, with several promising candidates in its pipeline, including treatments for desmoid tumors and other solid tumors.

Public Offering Announcement: Immunome has announced a public offering of 19.4 million shares at $7.75 per share, aiming for gross proceeds of $150 million.

Underwriter Option and Closing Date: The underwriters have a 30-day option to purchase an additional 2.9 million shares, with the offering expected to close on January 31, 2025, pending customary conditions.

Immunome's Public Offering Announcement: Immunome, Inc. plans to initiate an underwritten public offering of $125 million in common stock, with a potential additional 15% option for underwriters, subject to market conditions.

Company Overview and Pipeline: Immunome is a clinical-stage oncology company focused on developing targeted cancer therapies, with several pipeline programs including varegacestat for desmoid tumors and various antibody-drug conjugates (ADCs) in preclinical stages.

Public Offering Announcement: Immunome plans to initiate an underwritten public offering to sell $125 million of its common stock, with all shares being offered by the company itself.

Market Reaction: Following the announcement, Immunome's shares experienced a decline of 3.7% in post-market trading on Wednesday.

Exclusive License Agreement: Hummingbird Bioscience has granted Immunome, Inc. an exclusive worldwide license for monoclonal antibodies targeting a single undisclosed target, with Immunome responsible for their research, development, and commercialization.

Hummingbird's Commitment: Hummingbird Bioscience is focused on advancing its pipeline of preclinical and clinical-stage therapies using its Rational Antibody Discovery platform to develop next-generation antibody-drug conjugates for hard-to-treat diseases.