Immunome Reports Q2 2025 Financial Results with Increased Collaboration Revenue but Higher Net Loss

Immunome, Inc. reported its financial results for the second quarter of 2025, revealing a collaboration revenue of $4.0 million, a significant increase from $2.4 million in the same period last year. For the first half of 2025, the company generated $6.9 million in collaboration revenue, up from $3.4 million in the first half of 2024. The revenue growth is attributed to increased research and development activities under its collaboration agreement with AbbVie, which concluded in July 2025. Despite the revenue increase, Immunome reported a net loss of $43.4 million for the second quarter, compared to a loss of $36.1 million in the prior year, and a total net loss of $85.0 million for the first half of 2025, down from $165.6 million in the same period last year.

The company's total operating expenses for the second quarter were $50.5 million, up from $42.4 million in the previous year, primarily driven by increased research and development costs, which rose to $40.5 million from $29.1 million. General and administrative expenses also increased to $10.0 million from $7.0 million, reflecting higher personnel-related costs due to an expanded workforce. Notably, there were no in-process research and development expenses recorded in the second quarter of 2025, contrasting with $6.3 million in the same quarter of 2024.

Immunome's balance sheet as of June 30, 2025, showed total assets of $296.3 million, up from $240.2 million at the end of 2024. The company had cash and cash equivalents of $143.9 million and marketable securities of $124.2 million, providing a solid liquidity position. The total stockholders' equity increased to $269.3 million, compared to $181.2 million at the end of 2024, largely due to the issuance of common stock in a public offering that raised $161.7 million in January 2025.

Operationally, Immunome has made significant strides in its clinical pipeline, which includes three clinical assets and three preclinical assets. The company is advancing its lead asset, varegacestat, in a Phase 3 trial for desmoid tumors, and has initiated a Phase 1 trial for IM-1021, a receptor tyrosine kinase-like orphan receptor 1 antibody-drug conjugate. The company also received IND clearance for IM-3050, a fibroblast activation protein-targeted radioligand therapy, with plans to start a Phase 1 trial in the second half of 2025.

Looking ahead, Immunome anticipates that its existing cash and marketable securities will be sufficient to fund its operations for at least the next 12 months. However, the company acknowledges the need for additional capital to support ongoing research and development activities, particularly as it advances its clinical programs and seeks regulatory approvals. The company may pursue further financing through equity offerings, collaborations, or strategic alliances to meet its long-term business objectives.