Immunome, Inc. - IMNM STOCK NEWS

Immunome, a biopharmaceutical company focused on antibody therapeutics, reported its Q1 2021 financial results, revealing a net loss of $3.9 million and R&D expenses of $2.0 million. The company announced significant advancements, including the discovery of antibodies neutralizing SARS-CoV-2 variants and plans for an IND filing for the IMM-BCP-001 cocktail in late Q2 or early Q3 2021. Additionally, Immunome appointed Dr. Dennis Giesing as Chief Development Officer and Corleen Roche as Chief Financial Officer. A $27 million private placement is expected to fund operations through 2022.

Immunome, Inc. (Nasdaq: IMNM) announced antibody selection for its IMM-BCP-01 cocktail, showing effectiveness against SARS-CoV-2 variants in preclinical tests. The cocktail, comprising three monoclonal antibodies, demonstrated full neutralization against several variants, including those resistant to current therapeutics. The company plans to file an IND for IMM-BCP-01 in late Q2/early Q3 2021, supported by a $13.3 million agreement with the U.S. Department of Defense. Immunome aims to pioneer treatments for oncology and infectious diseases through its patient memory B cell platform.

Immunome (Nasdaq: IMNM) has entered into a definitive securities purchase agreement to sell its equity securities in a private placement, securing approximately $27 million in gross proceeds. The deal involves the sale of 1,000,000 units at $27.00 per unit, each comprising one share of common stock and a warrant for an additional half share at $45.00 per share. Funds will support the development of its oncology and infectious disease portfolio, including COVID-19. The transaction is expected to close on April 28, 2021, pending customary conditions.

Immunome, Inc. (Nasdaq: IMNM) has appointed Corleen Roche as the new Chief Financial Officer. Roche, with extensive experience in corporate finance in the biopharmaceutical sector, previously served as U.S. CFO for Biogen. Her appointment is expected to enhance Immunome's growth into a clinical-stage company, strengthening its financial strategy and business development efforts. Roche aims to leverage her expertise to advance Immunome's therapeutic pipeline, which focuses on oncology and infectious diseases, including COVID-19.

Immunome (Nasdaq: IMNM) announced the appointment of Dennis Giesing, Ph.D., as Chief Development Officer, effective immediately. Dr. Giesing brings over 35 years of pharmaceutical experience, having previously worked at Johnson & Johnson Oncology and Taris Biomedical. His role will include leading product development and clinical strategies, with two IND filings planned for 2021. CEO Purnanand Sarma expressed confidence in Dr. Giesing's ability to advance Immunome's antibody therapeutics aimed at oncology and infectious diseases, including COVID-19.

Immunome, Inc. (NASDAQ: IMNM) reported its financial results for Q4 and the full year ending December 31, 2020. The company raised $44.9 million through its IPO, enhancing its financial position with cash and equivalents of $39.8 million as of year-end. For Q4, R&D expenses were $1.8 million, while total annual R&D expenses reached $7.5 million. General and administrative expenses for Q4 were $2.2 million, totaling $4.8 million for the year. The net loss for Q4 was $4.1 million ($0.40 per share), and $17.8 million ($5.26 per share) for the full year.

Immunome, Inc. (Nasdaq: IMNM) announced the advancement of its first oncology program targeting IL-38 into IND-enabling studies, with an IND filing expected in H2 2021. The IL-38 target was identified from a B cell sample of a head and neck cancer patient. IL-38 acts as a novel innate immune checkpoint, correlating with poor clinical outcomes in lung cancer. CEO Purnanand Sarma expressed excitement about the progress, highlighting IL-38's overexpression in tumors with high unmet clinical need. The development aligns with Immunome's goal to innovate antibody therapeutics in oncology.

Immunome, a biopharmaceutical firm (Nasdaq: IMNM), has isolated potent antibodies that neutralize multiple SARS-CoV-2 variants through its memory B cell platform. This discovery is part of a broader effort to create a therapeutic antibody cocktail for COVID-19. The identified antibodies bind to various regions of the spike protein, including those in the South African Variant (B.1.351). The research aims to counteract vaccine resistance and potentially enhance viral clearance. Immunome's COVID program is supported by a $13.3 million grant from the U.S. Department of Defense.

Immunome (Nasdaq: IMNM) has partnered with Abzena to develop IMM-BCP-01, an investigational antibody cocktail targeting COVID-19. This collaboration is aimed at producing the cocktail for clinical testing. In July 2020, Immunome received $13.3 million from the U.S. Department of Defense to support this initiative. Both companies emphasize the potential benefits of this therapy in combating the pandemic. Immunome focuses on developing first-in-class therapeutic antibodies utilizing its proprietary human memory B cell platform.