Immunome Inc. reported significant financial losses for the fiscal year ending December 31, 2024, with a net loss of $293.0 million, compared to a loss of $106.8 million in the previous year. The company's total operating expenses surged to $314.8 million, up from $123.5 million in 2023, primarily driven by increased research and development costs associated with its clinical programs. Collaboration revenue also decreased by $5.0 million, falling to $9.0 million, attributed to reduced research activities with AbbVie. The company has not yet generated revenue from product sales and anticipates continued losses as it advances its product pipeline.
Immunome's strategic developments included the acquisition of the gamma secretase inhibitor, varegacestat, from Ayala Pharmaceuticals in March 2024, which is currently in Phase 3 clinical trials for desmoid tumors. The company also initiated a Phase 1 trial for IM-1021, a receptor tyrosine kinase-like orphan receptor 1 antibody-drug conjugate, after receiving FDA clearance in December 2024. Additionally, Immunome is advancing its preclinical assets, including IM-3050, a fibroblast activation protein-targeted radioligand therapy, for which an IND was submitted in March 2025.
Operationally, Immunome's employee headcount stood at 118 as of December 31, 2024, with 87 employees engaged in research and development. The company is focused on expanding its pipeline of antibody-drug conjugates (ADCs) and has initiated IND-enabling activities for three additional ADC candidates. The company’s leadership team, which has extensive experience in oncology, is expected to drive the development of these innovative therapies.
Looking ahead, Immunome anticipates that its existing cash, cash equivalents, and marketable securities, totaling $217.3 million as of year-end, will be sufficient to fund operations for at least the next 12 months. However, the company acknowledges the need for additional financing to support ongoing research and development activities. The future success of Immunome will depend on its ability to navigate the complexities of clinical trials, secure regulatory approvals, and ultimately commercialize its product candidates in a competitive oncology market.
About Immunome Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.