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Jun 30, 2024
Immunome Q2 2024 Earnings Report
Announced financial results for the second quarter ended June 30, 2024 and provided a business update.
Key Takeaways
Immunome reported its financial results for the second quarter ended June 30, 2024. The company is focused on advancing its pipeline of oncology therapies and preparing AL102 for regulatory submissions. IND submissions for IM-1021 and IM-3050 are expected in the first quarter of 2025.
Full enrollment for the Phase 3 RINGSIDE Part B study of AL102 for the treatment of desmoid tumors was completed in February 2024.
Topline data for RINGSIDE Part B is expected to be reported in the second half of 2025.
Additional manufacturing and pharmacology work is being performed to support a new drug application filing for AL102.
INDs for IM-1021 and IM-3050 are anticipated to be submitted in the first quarter of 2025.
Forward Guidance
Immunome anticipates submitting INDs for IM-1021 and IM-3050 in the first quarter of 2025. Topline data for RINGSIDE Part B is expected in the second half of 2025. The company expects its ADC targets to provide first-in-class potential.
Positive Outlook
- IND submissions for IM-1021 and IM-3050 are anticipated in Q1 2025.
- Topline data for RINGSIDE Part B expected in the second half of 2025.
- Focus on expanding pipeline through business development.
- Advancing AL102 towards regulatory submissions.
- Discovery efforts centered on next-generation ADCs.
Challenges Ahead
- Risk that regulatory approvals for Immunome’s programs and product candidates are not obtained, are delayed or are subject to unanticipated conditions.
- Risk that pre-clinical data may not be predictive of clinical data.
- Risk that Immunome’s product candidates and development candidates fail to achieve their intended endpoints.
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