Immunome, Inc. - IMNM STOCK NEWS

Immunome, Inc. (Nasdaq: IMNM) reported its financial results for Q4 2022, revealing a net loss of $7.8 million, or $0.64 per share, against a total net loss of $36.9 million, or $3.09 per share, for the year. As of December 31, 2022, the company held $20.3 million in cash and equivalents. A noteworthy highlight includes a strategic collaboration with AbbVie, initiating the discovery of up to 10 novel antibody-target pairs, valued at up to $120 million per target. Additionally, preclinical data for its anti-EPN1 antibody showed promising results, indicating a significant tumor volume reduction when combined with existing treatments.

Immunome (Nasdaq: IMNM) announces that Chief Technology Officer Matthew Robinson, Ph.D., will present at the 13th Annual World ADC London conference from March 13-16, 2023. Dr. Robinson's talk on March 15 will focus on Immunome's Discovery Engine, a platform that uses human memory B cells to identify novel therapeutic targets for antibody-drug conjugates (ADCs). This proprietary technology aims to enhance cancer treatments by finding proteins selectively expressed on cancer cells. A copy of the presentation will be available post-event on Immunome's website.

Immunome, Inc. (NASDAQ: IMNM) has established an advisory board featuring Dr. John Lambert and Dr. Anthony Tolcher to enhance the prioritization of novel targets for antibody drug conjugates (ADCs) and T cell redirection (TCR) modalities. These treatment modalities are becoming increasingly significant in oncology. Lambert emphasized the importance of identifying next-generation targets for successful ADC and TCR development, while Tolcher noted the growing clinical interest following recent FDA approvals. Immunome's proprietary Discovery Engine continues to uncover potential tumor-selective targets, aiming to broaden therapeutic options for cancer treatments.

Immunome has entered a multi-year collaboration with AbbVie to discover up to 10 novel target-antibody pairs through Immunome’s Discovery Engine. This agreement includes a $30M upfront payment and potential further payments totaling up to $70M for platform access, along with development milestones of up to $120M per target. AbbVie aims to enhance its oncology pipeline with Immunome’s innovative technology, which leverages human memory B cells for effective cancer therapeutics.

AbbVie and Immunome have announced a collaboration to discover up to 10 novel antibody-target pairs for oncology. Immunome will receive an upfront payment of $30M and could earn up to $70M in additional platform access fees, plus milestones totaling $120M per target and tiered royalties on global sales. This partnership underscores AbbVie's commitment to innovative cancer therapies and leverages Immunome's unique Discovery Engine, aimed at unlocking new therapeutic candidates for solid tumors. Both companies aim to enhance treatment approaches for patients with life-threatening cancers.

Immunome, Inc. (Nasdaq: IMNM) reported third-quarter 2022 financial results, showcasing a net loss of $8.5 million and R&D expenses of $5.2 million. As of September 30, 2022, the company held $27.1 million in cash. Immunome is advancing its clinical trial for the COVID-19 antibody, IMM-BCP-01, and plans to submit an IND for the oncology product, IMM-ONC-01, by mid-2023. The company also presented promising preclinical data on the anti-EPN1 antibody, IMM20059, indicating potential for tumor regression when combined with an existing treatment.