Immunome, Inc. has recently released its 10-Q report, providing a detailed look at the company's financial condition and operational results. The biotechnology company, incorporated in 2006 and based in Bothell, Washington, is focused on developing targeted cancer therapies. Its clinical asset, AL102, an investigational gamma secretase inhibitor, is currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors. In addition, Immunome's preclinical assets include IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, IM-3050, a fibroblast activation protein targeted radioligand therapy, and IM-4320, an anti-IL-38 immunotherapy candidate.
In the Management’s Discussion and Analysis of Financial Condition and Results of Operations, Immunome states that it has completed a merger with Morphimmune Inc., a preclinical biotechnology company, and now owns the subsidiary. The company is advancing a program pipeline comprising one clinical and three preclinical assets.
The company's clinical asset, AL102, has shown promising clinical activity in desmoid tumor patients, with an overall response rate (ORR) of 61% for all doses tested. The Phase 3 randomized registration trial, RINGSIDE Part B, is expected to provide topline data in the second half of 2025.
Immunome is also developing IM-1021, a preclinical stage antibody-drug conjugate targeting ROR1, which showed sustained tumor regression in preclinical studies. The company expects to submit an Investigational New Drug (IND) application for the IM-1021 program to the FDA in the first quarter of 2025.
Furthermore, the company is developing IM-3050, a FAP-targeted Lu-177 radioligand therapy, and IM-4320, an anti-IL-38 immunotherapy candidate. Immunome plans to submit an IND for the IM-3050 program to the FDA in the first quarter of 2025 and intends to submit an IND for the IM-4320 program subsequent to its anticipated IND submissions for IM-3050 and IM-1021.
Immunome's revenues primarily come from a Collaboration and Option Agreement with AbbVie, and it has not generated any revenue from product sales. The company's research and development activities are central to its business model, and it expects its research and development expenses to increase substantially in connection with the continuation of its activities and new agreements.
As a result of these announcements, the company's shares have moved -7.7% on the market, and are now trading at a price of $14.41. For the full picture, make sure to review Immunome's 10-Q report.
