Immunome Inc. Q2 2024 Update: Cash Position and Financing Activities

TL;DR

IMNM cash at $43.3M, Q2 2024. Details on Zentalis & Ayala deals.

AI Summary

Immunome Inc. filed its 10-Q for the period ending June 30, 2024, reporting a cash balance of $43.3 million. The filing details various financing activities, including a public offering and agreements with Zentalis Pharmaceuticals Inc. and Ayala Pharmaceuticals Inc., contributing to additional paid-in capital. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides insight into Immunome's financial health and its strategic partnerships, which are crucial for funding its drug development pipeline.

Risk Assessment

Risk Level: medium — The company's financial performance and reliance on partnerships for funding present inherent risks in the biotechnology sector.

Key Numbers

• $43.3M — Cash and Cash Equivalents (As of June 30, 2024, indicating liquidity.)
• 20240630 — Reporting Period End Date (Covers the second quarter of 2024.)

Key Players & Entities

• Immunome Inc. (company) — Filer
• Zentalis Pharmaceuticals Inc. (company) — Partner in License Agreement
• Ayala Pharmaceuticals Inc. (company) — Party to Purchase Agreement
• $43.3 million (dollar_amount) — Cash balance as of June 30, 2024

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value IMNM The Nasdaq Capital M

Filing Documents

• tmb-20240630x10q.htm (10-Q) — 1666KB
• tmb-20240630xex10d1.htm (EX-10.1) — 102KB
• tmb-20240630xex31d1.htm (EX-31.1) — 14KB
• tmb-20240630xex31d2.htm (EX-31.2) — 14KB
• tmb-20240630xex32d1.htm (EX-32.1) — 8KB
• tmb-20240630xex32d2.htm (EX-32.2) — 8KB
• 0001558370-24-011898.txt ( ) — 6391KB
• tmb-20240630.xsd (EX-101.SCH) — 47KB
• tmb-20240630_cal.xml (EX-101.CAL) — 42KB
• tmb-20240630_def.xml (EX-101.DEF) — 185KB
• tmb-20240630_lab.xml (EX-101.LAB) — 382KB
• tmb-20240630_pre.xml (EX-101.PRE) — 319KB
• tmb-20240630x10q_htm.xml (XML) — 832KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) - Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 - Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 4 - Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 - Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 6 - Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 33 Item 4.

Controls and Procedures

Controls and Procedures. 33

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 33 Item 1A. Risk Factors. 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 94 Item 3. Defaults Upon Senior Securities. 94 Item 4. Mine and Safety Disclosures. 94 Item 5. Other Information. 94 Item 6. Exhibits. 95

SIGNATURES

SIGNATURES 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. IMMUNOME, INC. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 165,332 $ 98,679 Marketable securities 113,021 39,463 Prepaid expenses and other current assets 5,931 6,561 Total current assets 284,284 144,703 Property and equipment, net 6,096 2,073 Operating right-of-use assets 2,523 1,564 Restricted cash 100 100 Other long-term assets 3,212 100 Total assets $ 296,215 $ 148,540 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 7,047 $ 3,311 Accrued expenses and other current liabilities 20,264 8,025 Deferred revenue, current 12,589 10,493 Total current liabilities 39,900 21,829 Deferred revenue, non-current — 5,489 Operating lease liabilities, net of current portion 2,477 1,340 Total liabilities 42,377 28,658 Stockholders' equity: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized; no shares issued or outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 300,000,000 shares authorized at June 30, 2024 and December 31, 2023; 60,013,655 and 43,251,778 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 6 4 Additional paid-in capital 642,251 342,663 Accumulated other comprehensive income 2 22 Accumulated deficit ( 388,421 ) ( 222,807 ) Total stockholders' equity 253,838 119,882 Total liabilities and stockholders' equity $ 296,215 $ 148,540 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements . 3 Table of Contents IMMUNOME, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) (unaudited) Three Months Ended June 30, Six Months Ended Ju

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View this 10-Q filing on SEC EDGAR