Immunome Inc. Announces Third Quarter 2024 Financial Results and Pipeline Progress

Immunome Inc. (NASDAQ: IMNM), a biotechnology company specializing in targeted oncology therapies, recently disclosed its financial outcomes for the third quarter concluded on September 30, 2024, along with updates on its business development initiatives.

On November 13, 2024, Immunome unveiled that it had completed full enrollment for the Phase 3 RINGSIDE Part B study of AL102, crafted for treating desmoid tumors in February 2024. The company anticipates revealing topline data for RINGSIDE Part B in the latter half of 2025. Moreover, Immunome is actively engaged in supplementary manufacturing and pharmacology endeavors required to bolster a new drug application filing for AL102. Additional strides include the anticipated submission of Investigational New Drug (IND) applications for IM-1021 and IM-3050 in the first quarter of 2025.

Regarding financial metrics, Immunome reported cash, cash equivalents, and marketable securities amounting to $240.1 million by September 30, 2024. The company’s cash runway is expected to extend into 2026. Research and development expenses for the third quarter of 2024 were noted at $37.2 million, alongside a net loss of $47.1 million for the same period.

Immunome is dedicated to advancing first-in-class and best-in-class targeted therapies to enhance outcomes for cancer patients. Spearheading an inventive portfolio of therapeutics, the company’s leadership has been pivotal in the design, development, and commercialization of cutting-edge cancer treatments, including antibody-drug conjugates (ADCs). Notable elements in Immunome’s pipeline feature AL102, a gamma secretase inhibitor currently undergoing a Phase 3 trial for treating desmoid tumors, alongside IM-1021, a ROR1 ADC, and IM-3050, an FAP-targeted radioligand, both set to have INDs submitted in early 2025.

Immunome’s President and CEO, Clay B. Siegall, Ph.D., affirmed that the company is poised to achieve key milestones with the impending topline data from the RINGSIDE Part B trial and the IND submissions for IM-1021 and IM-3050 according to schedule. Immunome’s strategic focus on discovering ADCs targeting novel receptors reflects its commitment to revolutionize cancer therapy.

The company’s recent performance and ongoing commitments emphasize its dedication to pioneering innovative oncology solutions and driving advancements in the biotechnology sector.

For more details, please visit the company’s website at www.immunome.com.

The article above is based on the 8-K SEC Filing for Immunome Inc. dated November 13, 2024.

This news piece has been drafted based on the information provided in the official 8-K SEC Filing by Immunome Inc. dated November 13, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Immunome’s 8K filing here.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.