Immunome (IMNM) AI Stock Analysis

• Market Cap: $711.26M
• Dividend Yield: N/A
• Average Volume (3M): 877.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.51
• Revenue Growth: -35.50%
• EPS Growth: 3.81%
• Country: US
• Employees: 118
• Sector: Healthcare
• Sector Strength: 74
• Industry: Biotechnology
• EPS (TTM): -5.18
• Shares Outstanding: 86,950,650
• 10 Day Avg. Volume: 978,731
• 30 Day Avg. Volume: 877,196
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 78.67
• Price to Cash Flow (P/CF): -4.20
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $24.67
• Price Target Upside: 201.59% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

Immunome's overall stock score reflects its significant financial difficulties, with persistent losses and cash flow challenges. The technical analysis further indicates a bearish market sentiment, and the current valuation highlights investor concerns about profitability and growth prospects. The company needs to focus on improving revenue and operational efficiency to enhance its financial health.

Positive Factors

Financial Position

Cash and cash equivalents were reported at $217 million, which does not include gross proceeds of $172 million from the January 2025 financing.

Market Opportunity

GSIs may represent an estimated $1.8B worldwide market opportunity for desmoid tumors, which are shifting away from surgery and traditional cancer therapies in favor of GSI's.

Pipeline Progress

The company announced enrollment completion last year and subsequently presented Ph 2 results that suggest the potential to be a best-in-class agent.

Negative Factors

Commercial Uncertainty

Regarding the commercial opportunity, management notes that this will be hard to answer until the profile is known, adding that if data replicates previous results, questions will answer themselves.

Competitive Landscape

The lead asset varegacestat is a Phase 3 oral small molecule gamma-secretase inhibitor with one marketed competitor for rare progressing desmoid tumors, heading into a pivotal topline readout.

Developmental Challenges

Management reiterated that AL102 Phase III data are expected during H2:2025, which could prove to be very competitive if the data are comparable to Phase II.

Immunome Business Overview & Revenue Model

Company Description

Immunome, Inc. (IMNM) is a biotechnology company focused on the discovery and development of first-in-class antibody therapeutics designed to harness the human immune system to treat cancer and infectious diseases. Utilizing its proprietary platform, Immunome aims to uncover novel targets and antibodies from the memory B cells of patients who have achieved exceptional immune responses. The company's lead programs are centered around oncology and infectious diseases, with a pipeline that includes potential treatments for various forms of cancer and viral infections.

How the Company Makes Money

Immunome makes money primarily through the development and commercialization of its proprietary antibody-based therapeutics. The company generates revenue through collaborations and partnerships with larger pharmaceutical companies, licensing its technologies, and potentially through future sales of approved therapeutics. Revenue streams may include upfront payments, milestone payments, and royalties from sales if any of its drug candidates successfully reach the market. Immunome's business model relies on advancing its pipeline through clinical trials to achieve regulatory approval and subsequent commercialization, which can attract further investment and partnership opportunities.

Immunome Financial Statement Overview

Summary

Immunome has strong revenue growth but faces persistent losses and negative cash flows. While it has a robust liquidity position, negative profitability and cash flow metrics raise sustainability concerns. The company needs strategic adjustments to achieve profitability and improve cash flow management.

Income Statement

Immunome has shown significant revenue growth in the TTM, but continues to face challenges with profitability. The gross profit margin for the TTM is strong at approximately 88.2%, indicating effective cost management on revenue generated. However, the company is experiencing negative net profit margins, EBIT, and EBITDA margins, reflecting substantial operating losses. A key concern is the sustainability of growth without profitability.

Balance Sheet

The balance sheet reveals a relatively low debt-to-equity ratio, signaling manageable leverage. However, the equity ratio at about 83.7% indicates a strong equity base. The return on equity is negative due to ongoing losses, highlighting efficiency issues in generating returns from equity. The substantial cash reserves provide liquidity and a buffer against operational challenges.

Cash Flow

The cash flow statement shows negative free cash flow and operating cash flow, which are concerns for financial sustainability. The operating cash flow to net income ratio is negative, indicating cash flow issues from core operations. Despite high financing inflows, the company struggles to convert revenue into positive cash flows, posing risks to long-term viability.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
10.13M	14.02M	0.00	0.00	0.00	0.00
	Gross Profit
8.94M	-8.91M	-631.00K	-755.00K	-755.00K	-615.00K
	EBIT
-317.48M	-109.53M	-36.90M	-25.20M	-12.26M	-10.35M
	EBITDA
-112.74M	-28.27M	-36.27M	-23.95M	-17.04M	-9.72M
	Net Income Common Stockholders
-305.35M	-106.81M	-37.51M	-24.47M	-17.12M	-10.55M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.60M	138.14M	20.32M	49.23M	39.77M	2.54M
	Total Assets
0.00	148.54M	24.05M	57.92M	44.52M	5.06M
	Total Debt
0.00	1.65M	293.00K	317.00K	613.00K	564.00K
	Net Debt
1.60M	-97.03M	-20.03M	-48.91M	-39.15M	-1.98M
	Total Liabilities
0.00	28.66M	7.39M	9.74M	3.18M	40.69M
	Stockholders Equity
2.31M	119.88M	16.65M	48.19M	41.34M	-35.63M
Cash Flow		Free Cash Flow
-92.59M	-8.40M	-28.94M	-18.30M	-12.72M	-9.83M
	Operating Cash Flow
-86.19M	-7.57M	-28.69M	-18.23M	-12.13M	-9.60M
	Investing Cash Flow
-124.82M	-30.48M	-248.00K	-79.00K	-586.00K	-233.00K
	Financing Cash Flow
275.94M	116.41M	32.00K	27.77M	49.94M	10.77M

Immunome Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMNM, the sentiment is Negative. The current price of 8.18 is below the 20-day moving average (MA) of 8.94, below the 50-day MA of 9.72, and below the 200-day MA of 12.30, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 37.30 is Neutral, neither overbought nor oversold. The STOCH value of 10.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IMNM.

Immunome Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	49 Neutral	$6.94B	0.66	-52.58%	2.47%	22.65%	0.94%
KURA	45 Neutral	$617.78M	―	-42.91%	―	―	2.90%
AFMD	42 Neutral	$13.52M	―	-151.46%	―	-95.23%	-325.89%
IMTX	42 Neutral	$596.78M	―	-17.48%	―	―	―
CUE	41 Neutral	$62.37M	―	-131.15%	―	149.51%	24.34%
IMNM	40 Underperform	$711.26M	―	-194.63%	―	-35.50%	3.81%
ALXO	38 Underperform	$36.85M	―	-88.91%	―	―	30.37%

Immunome Corporate Events

Immunome CFO Relocation and Compensation Package Unveiled

On January 21, 2025, Immunome, Inc.’s CFO, Max Rosett, accepted a relocation package to move to Bothell, Washington. The package includes a $100,000 cash bonus contingent on his move by January 21, 2026, and employment retention, plus a $300,000 housing bonus tied to purchasing a home and staying with the company for three years, with specific repayment obligations.