Immunome(IMNM) - 2024 Q2 - Quarterly Results

Financial Performance - Immunome reported a net loss of $36.1 million for the quarter ended June 30, 2024, compared to a net loss of$5.6 million for the same period in 2023[3][7]. - Total operating expenses for Q2 2024 were $42.4 million, significantly higher than$10.0 million in Q2 2023[7]. - Research and development expenses for Q2 2024 were $29.1 million, including stock-based compensation costs of$1.0 million[3]. - The company incurred in-process research and development expenses of $6.3 million in Q2 2024 related to business development activities[3]. - Immunome's accumulated deficit increased to$388.4 million as of June 30, 2024, compared to $222.8 million at the end of 2023[6]. Cash and Assets - As of June 30, 2024, Immunome reported cash, cash equivalents, and marketable securities totaling$278.4 million, with a cash runway expected to extend into 2026[2]. - Immunome's total assets increased to $296.2 million as of June 30, 2024, up from$148.5 million at the end of 2023[6]. Clinical Development - Full enrollment for the Phase 3 RINGSIDE Part B study of AL102 was completed in February 2024, with topline data expected in the second half of 2025[2]. - Immunome plans to submit INDs for IM-1021 and IM-3050 in Q1 2025[2]. - The company identified multiple promising ADC targets, all offering first-in-class potential, to expand its pipeline[1].