Immunome Reports Q1 2025 Financial Results with Increased Collaboration Revenue and Reduced Net Loss

Immunome, Inc. reported its financial results for the first quarter of 2025, revealing a collaboration revenue of $2.9 million, a significant increase from $1.0 million in the same period last year. The rise in revenue is attributed to heightened research and development activities under its collaboration agreement with AbbVie. The company’s total operating expenses decreased sharply to $47.6 million from $133.3 million in the prior year, primarily due to the absence of in-process research and development (IPR&D) expenses, which were $112.0 million in the first quarter of 2024. This led to a reduced net loss of $41.6 million, compared to a net loss of $129.5 million in the previous year.

Immunome's balance sheet as of March 31, 2025, showed total assets of $342.7 million, up from $240.2 million at the end of 2024. The increase in assets was driven by a rise in cash and cash equivalents, which reached $257.6 million, compared to $143.4 million at the end of the previous year. The company’s stockholders' equity also improved significantly, rising to $307.1 million from $181.2 million, reflecting the issuance of 22.3 million shares in a public offering that generated net proceeds of $161.7 million.

Operationally, Immunome has made strides in advancing its clinical pipeline, which includes three clinical assets and three preclinical assets. The company is currently conducting a Phase 3 trial for its lead asset, varegacestat, and has initiated a Phase 1 trial for IM-1021, an antibody-drug conjugate. The company’s research and development expenses increased to $36.9 million, up from $15.4 million, primarily due to costs associated with clinical trials and personnel-related expenses. The headcount has also increased, contributing to higher general and administrative expenses, which rose to $10.7 million from $6.0 million.

Looking ahead, Immunome expects to continue incurring losses as it advances its clinical programs and seeks regulatory approvals. The company anticipates that its existing cash and marketable securities will be sufficient to fund operations for at least the next 12 months. However, it may need to raise additional capital through equity offerings or collaborations to support its long-term objectives. The company remains focused on developing its innovative portfolio of targeted therapies aimed at improving outcomes for cancer patients, with ongoing efforts to expand its pipeline and enhance its market position.