PFE - Immunome: Enthusiasm For New Management Has Faded
2024-06-27 11:27:19 ET
Summary
- Immunome, Inc. stock surged over 400% post-merger and management changes but has since dropped over 60% as initial enthusiasm has waned.
- The company's new CEO has drawn attention to the company, which has one asset, AL102, in clinical evaluation for desmoid tumors.
- Immunome also has a collaboration with AbbVie, is prepping three preclinical assets for human trials, and has a decent balance sheet with operating runway into 2026.
- An analysis around this oncology focused clinical stage biotech concern is presented in the paragraphs below.
Shares of targeted oncology biotech Immunome, Inc. ( IMNM ) rallied over 400% post-merger news and have subsequently fallen back over 60% as enthusiasm garnered from asset acquisitions has waned. Although new CEO Clay Siegall has drawn plenty of attention to his company since taking over in October 2023, it only has one asset – recently acquired AL102 – undergoing clinical evaluation. With Phase 3 results for the desmoid tumor candidate due in 2H25 and two assets entering the clinic in early 2025, Siegall’s recent buying into an impending news vacuum merited a deeper dive. An analysis follows below....
Immunome: Enthusiasm For New Management Has Faded