Immunome (IMNM)


Market Price (10/26/2026): $17.9 | Market Cap: $2.1 BilSector: Health Care | Industry: Biotechnology

Immunome (IMNM)


Market Price (10/26/2026): $17.9
Market Cap: $2.1 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -270 Mil

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.8%, Rev Chg QQuarterly Revenue Change % is null

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16%

Key risks
IMNM key risks include [1] a critical need for additional funding due to a history of significant operating losses, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -25%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -270 Mil
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.8%, Rev Chg QQuarterly Revenue Change % is null
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16%
7 Key risks
IMNM key risks include [1] a critical need for additional funding due to a history of significant operating losses, Show more.

IMNM in ETFs

Weight = IMNM's share of each fund

VTI0.00%
ITOT0.00%
IWM0.06%
XBI0.34%
IWO0.12%
VTWO0.07%
SCHA0.05%
ESML0.04%
+6 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Immunome (IMNM) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Immunome reported a significant miss in its fiscal Q2 2026 earnings and revenue, contributing to investor concern. The company announced its Q2 2026 financial results on August 11, 2026. Immunome's earnings per share (EPS) for the quarter were -$0.65, missing the analyst estimate of -$0.51 by 26.50%. Furthermore, the reported revenue was $0.00, falling short of the estimated $166.67K USD.

2. The restructuring of the Bristol Myers Squibb license in early October 2026 led to concerns about shareholder dilution. On October 6, 2026, Immunome announced it had restructured its license agreement with Bristol Myers Squibb, gaining full patent rights for varegacestat. This transaction involved a $20 million payment and the issuance of approximately 4.43 million shares, which sparked investor focus on dilution and resulted in an 8.8% slump in the stock price on that day.

Show more
Updated on 10/20/2026

Immunome (IMNM) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Immunome reported a significant miss in its fiscal Q2 2026 earnings and revenue, contributing to investor concern. The company announced its Q2 2026 financial results on August 11, 2026. Immunome's earnings per share (EPS) for the quarter were -$0.65, missing the analyst estimate of -$0.51 by 26.50%. Furthermore, the reported revenue was $0.00, falling short of the estimated $166.67K USD.

2. The restructuring of the Bristol Myers Squibb license in early October 2026 led to concerns about shareholder dilution. On October 6, 2026, Immunome announced it had restructured its license agreement with Bristol Myers Squibb, gaining full patent rights for varegacestat. This transaction involved a $20 million payment and the issuance of approximately 4.43 million shares, which sparked investor focus on dilution and resulted in an 8.8% slump in the stock price on that day.

3. Despite positive clinical developments, the stock's initial gains were not sustained, suggesting these catalysts were potentially already priced in or overshadowed by other factors. In early July 2026, the stock saw a significant increase, jumping 32% after the U.S. FDA accepted the New Drug Application for Varegacestat for the treatment of desmoid tumors, with an approval decision anticipated by April 2027. However, the stock experienced a sharp pullback thereafter, being down approximately 28% over the month leading up to October 8, 2026.

4. Broader macroeconomic headwinds, particularly rising interest rates, exerted pressure on biotech sector valuations. Throughout the period, the biotechnology sector, including Immunome, faced macroeconomic challenges such as higher interest rates, which can pressure valuations. While there were improving financing conditions and M&A activity in the biotech sector, these broader economic factors likely contributed to the difficulty in sustaining stock price appreciation.

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Stock Movement Drivers

Fundamental Drivers

The -15.1% change in IMNM stock from 6/30/2026 to 10/24/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)630202610242026Change
Stock Price ($)21.1917.99-15.1%
Change Contribution By: 
Total Revenues ($ Mil)40 
P/S Multiple597.1∞9.2233720368547763E17%
Shares Outstanding (Mil)113113-0.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/24/2026
ReturnCorrelation
IMNM-15.1% 
Market (SPY)1.8%29.3%
Sector (XLV)13.0%39.9%

Fundamental Drivers

The -17.7% change in IMNM stock from 3/31/2026 to 10/24/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)331202610242026Change
Stock Price ($)21.8717.99-17.7%
Change Contribution By: 
Total Revenues ($ Mil)70 
P/S Multiple299.1∞9.2233720368547763E17%
Shares Outstanding (Mil)95113-16.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/24/2026
ReturnCorrelation
IMNM-17.7% 
Market (SPY)17.2%30.5%
Sector (XLV)22.8%31.4%

Fundamental Drivers

The 53.6% change in IMNM stock from 9/30/2025 to 10/24/2026 was primarily driven by a 9.2233720368547763E17% change in the company's P/S Multiple.
(LTM values as of)930202510242026Change
Stock Price ($)11.7117.9953.6%
Change Contribution By: 
Total Revenues ($ Mil)130 
P/S Multiple80.9∞9.2233720368547763E17%
Shares Outstanding (Mil)87113-23.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/24/2026
ReturnCorrelation
IMNM53.6% 
Market (SPY)15.0%32.9%
Sector (XLV)30.5%25.9%

Fundamental Drivers

The 115.4% change in IMNM stock from 9/30/2023 to 10/24/2026 was primarily driven by a 9.2233720368547763E17% change in the company's P/S Multiple.
(LTM values as of)930202310242026Change
Stock Price ($)8.3517.99115.4%
Change Contribution By: 
Total Revenues ($ Mil)70 
P/S Multiple15.4∞9.2233720368547763E17%
Shares Outstanding (Mil)12113-89.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/24/2026
ReturnCorrelation
IMNM115.4% 
Market (SPY)83.9%32.6%
Sector (XLV)45.8%30.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IMNM Return34%-83%384%-1%102%-15%89%
Peers Return5%-26%-1%-40%53%24%-13%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
IMNM Win Rate25%25%58%50%67%50% 
Peers Win Rate42%45%48%43%50%54% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
IMNM Max Drawdown-71%-84%-33%-66%-53%-45% 
Peers Max Drawdown-45%-60%-50%-63%-54%-46% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CLDX, CTMX, MGNX, STRO, AMGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/23/2026 (YTD)

How Low Can It Go

EventIMNMS&P 500
2025 US Tariff Shock
  % Loss-43.8%-18.8%
  % Gain to Breakeven78.1%23.1%
  Time to Breakeven100 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-12.4%-9.5%
  % Gain to Breakeven14.1%10.5%
  Time to Breakeven2 days24 days
2023 SVB Regional Banking Crisis
  % Loss-22.0%-6.7%
  % Gain to Breakeven28.2%7.1%
  Time to Breakeven4 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-84.0%-24.5%
  % Gain to Breakeven524.6%32.4%
  Time to Breakeven614 days427 days

Compare to CLDX, CTMX, MGNX, STRO, AMGN

In The Past

Immunome's stock fell -43.8% during the 2025 US Tariff Shock. Such a loss loss requires a 78.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventIMNMS&P 500
2025 US Tariff Shock
  % Loss-43.8%-18.8%
  % Gain to Breakeven78.1%23.1%
  Time to Breakeven100 days79 days
2023 SVB Regional Banking Crisis
  % Loss-22.0%-6.7%
  % Gain to Breakeven28.2%7.1%
  Time to Breakeven4 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-84.0%-24.5%
  % Gain to Breakeven524.6%32.4%
  Time to Breakeven614 days427 days

Compare to CLDX, CTMX, MGNX, STRO, AMGN

In The Past

Immunome's stock fell -43.8% during the 2025 US Tariff Shock. Such a loss loss requires a 78.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Immunome (IMNM)

Immunome, Inc. (IMNM) is a biopharmaceutical company focused on the discovery and development of antibody therapeutics for critical medical needs. The company operates at the forefront of biological medicine, aiming to create innovative treatments for both oncology (cancer) and infectious diseases. Immunome's core business revolves around leveraging the power of antibodies to target disease-causing mechanisms and enhance the body's natural defenses.

The company's pipeline features two key programs. In oncology, its lead candidate is IMM-ONC-01, an antibody therapeutic specifically designed to target IL-38. IL-38 is identified as a tumor-derived immune checkpoint, meaning it's utilized by cancer cells to evade detection and destruction by the immune system. By neutralizing IL-38, IMM-ONC-01 seeks to restore or boost the immune response against tumors. For infectious diseases, Immunome is developing IMM-BCP-01, an antibody cocktail product candidate intended for the treatment of SARS-CoV-2 infections and the resulting COVID-19 disease.

Immunome's main products are these advanced antibody therapeutics, and its primary market consists of patients afflicted with serious conditions such as cancer and specific infectious diseases, initially focusing on SARS-CoV-2/COVID-19. The company aims to address significant unmet medical needs globally, with its therapies ultimately being prescribed by healthcare professionals and integrated into existing healthcare systems to improve patient outcomes.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Immunome (IMNM):

  • Regeneron for early-stage antibody drugs in cancer and COVID-19.
  • A nascent Genentech, but focused on antibody therapies for oncology and viral infections.

AI Analysis | Feedback

  • IMM-ONC-01: An oncology antibody therapeutic program targeting IL-38 to promote immune system evasion.
  • IMM-BCP-01: An antibody cocktail product candidate for the treatment of SARS-CoV-2 infections and COVID-19.

AI Analysis | Feedback

Immunome, Inc. (symbol: IMNM) is a biopharmaceutical company primarily focused on the discovery and development of antibody therapeutics for oncology and infectious disease. Based on the provided background information, the company is engaged in advancing its lead oncology program (IMM-ONC-01) and an antibody cocktail product candidate for infectious disease (IMM-BCP-01).

As a company primarily involved in the research and development phase with pipeline "product candidates," Immunome does not currently have major direct customers in the traditional sense of selling commercialized products to individuals or other companies.

Typically, a biopharmaceutical company at this stage aims to develop its drug candidates through clinical trials. If successful, these candidates may eventually be:

  • Licensed to larger pharmaceutical companies for further development, manufacturing, and commercialization. In this scenario, the licensing partners would be considered their "customers" in a business-to-business relationship.
  • Commercialized directly by Immunome, which would involve selling to healthcare providers (e.g., hospitals, clinics, pharmacies) or government health organizations.

However, based solely on the description of Immunome's current activities as "discovering and developing" "product candidates," there are no identifiable major customers for commercial products at this time.

AI Analysis | Feedback

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AI Analysis | Feedback

Clay Siegall, Ph.D. President & Chief Executive Officer

Dr. Siegall was appointed President & Chief Executive Officer of Immunome in October 2023. He previously served as CEO of Morphimmune, a privately held biotechnology company that successfully merged with Immunome under his leadership. Dr. Siegall is also a co-founder and former CEO of Seagen, Inc., which was acquired by Pfizer for $43 billion. He has over 25 years of experience in the biopharmaceutical industry.

Max Rosett Chief Financial Officer

Mr. Rosett joined Immunome in October 2023, following the company's merger with Morphimmune, where he previously served as Acting Chief Operating Officer. Before Morphimmune, he was a Principal at Research Bridge Partners, a life science investment firm. Mr. Rosett also worked as a software engineer at Google and began his career at the Boston Consulting Group, advising clients in the pharmaceutical industry.

Jack Higgins, Ph.D. Chief Scientific Officer

Dr. Higgins is the Chief Scientific Officer at Immunome.

Kinney Horn Chief Business Officer

Mr. Horn serves as the Chief Business Officer, bringing over two decades of experience in life science finance and business development to Immunome.

Bob Lechleider, M.D. Chief Medical Officer

Dr. Lechleider holds the position of Chief Medical Officer at Immunome.

AI Analysis | Feedback

Immunome, Inc. (IMNM) faces several key risks inherent to its operations as a biopharmaceutical company focused on discovering and developing antibody therapeutics. These risks are primarily centered around the challenging and costly nature of drug development, market competition, and financial sustainability.

  1. Clinical Trial and Regulatory Approval Risk: As a biopharmaceutical company, Immunome's success is heavily dependent on the successful outcome of its clinical trials and the ability to secure regulatory approvals for its product candidates. The drug development process is lengthy, expensive, and uncertain, with a high rate of failure at various stages. Even with positive Phase 3 results for a lead candidate like varegacestat, there is no guarantee of New Drug Application (NDA) submission leading to regulatory approval or successful commercialization.
  2. Product Pipeline Concentration and Commercialization Challenges: Immunome's future revenue and profitability are largely tied to the success of a limited number of product candidates. While the company has demonstrated progress with its varegacestat program and has other candidates like IM-1021 in earlier phases and planned IND submissions, the commercial success of these assets is not assured. The market for desmoid tumors, for which varegacestat is being developed, is small, and the company faces intense competition from existing treatments and other companies with greater financial resources and established market presence in both oncology and infectious disease fields.
  3. Financial Sustainability and Need for Additional Funding: Immunome is a development-stage company with minimal current revenue and a history of significant operating losses. Advancing product candidates through clinical development to potential commercialization requires substantial capital. Although the company recently conducted a public offering to extend its cash runway, there remains a risk of needing to raise additional capital in the future, which could lead to further shareholder dilution or impact the company's ability to fund its research and development activities.

AI Analysis | Feedback

The rapidly evolving landscape of COVID-19 treatment and prevention, including the emergence of highly effective oral antivirals, widespread vaccination, and the continuous evolution of SARS-CoV-2 variants, poses a significant threat to the market viability and relevance of Immunome's antibody cocktail product candidate, IMM-BCP-01, for SARS-CoV-2 infections and COVID-19.

AI Analysis | Feedback

Immunome (NASDAQ: IMNM) focuses on developing antibody therapeutics for oncology and infectious diseases.

IMM-ONC-01 (Oncology)

Immunome's lead oncology program, IMM-ONC-01, targets IL-38, a tumor-derived immune checkpoint. While a specific addressable market size for IL-38 inhibitors is not readily available, IMM-ONC-01 falls under the broader categories of Immuno-Oncology (IO) and Immune Checkpoint Inhibitors.

  • The global immuno-oncology (IO) market was estimated at approximately USD 43.73 billion in 2023 and is projected to reach around USD 284.29 billion by 2033. Another estimate places the global immuno-oncology (IO) market size at USD 54.35 billion in 2025, projected to hit approximately USD 435.70 billion by 2035.
  • The global immune checkpoint inhibitors market was valued at an estimated USD 48.42 billion in 2023 and is projected to reach USD 154.25 billion by 2030. This market was valued at USD 66.2 billion in 2025 and is expected to grow to USD 303.9 billion in 2035.
  • North America has consistently dominated these markets, holding the largest share in 2023, 2024, and 2025.

IMM-BCP-01 (SARS-CoV-2/COVID-19)

IMM-BCP-01 was an antibody cocktail product candidate for the treatment of SARS-CoV-2 infections and COVID-19. However, the development of IMM-BCP-01 has been discontinued.

AI Analysis | Feedback

Immunome (IMNM) is poised for potential future revenue growth over the next 2-3 years, driven primarily by the advancement and potential commercialization of its oncology pipeline. The company's focus is on developing first-in-class and best-in-class targeted cancer therapies.

  1. Regulatory Approval and Commercialization of Varegacestat (formerly AL102) for Desmoid Tumors: Immunome's lead program, varegacestat, a once-daily oral gamma secretase inhibitor, achieved positive topline results from the pivotal Phase 3 RINGSIDE trial in December 2025. This trial demonstrated an 84% reduction in the risk of disease progression or death and a 56% objective response rate in patients with desmoid tumors. An New Drug Application (NDA) submission for varegacestat is planned for the second quarter of 2026. Successful regulatory approval and subsequent commercial launch would be a significant new revenue stream, with estimated conservative peak global sales potentially reaching $280 million.
  2. Advancement and Potential Commercialization of IM-1021 (ROR1 ADC): Immunome is progressing IM-1021, a ROR1-targeted Antibody-Drug Conjugate (ADC), through its Phase 1 clinical trial for solid tumors and B-cell lymphomas. The company received IND clearance for IM-1021 in the fourth quarter of 2024, and initial data from the ongoing Phase 1 study is anticipated in 2026. IM-1021 incorporates Immunome's proprietary TOP1 inhibitor, HC74, designed to overcome common ADC resistance mechanisms. Positive clinical outcomes and progression to later-stage development or potential partnerships could drive future revenue.
  3. Progression of IM-3050 (FAP-targeted Radiotherapy) into Clinical Development: IM-3050, a Fibroblast Activating Protein (FAP)-targeted lutetium-177 radioligand therapy, received IND clearance in April 2025, with the initiation of a Phase 1 clinical trial expected in early 2026 or the second half of 2025. Successful advancement of this novel therapeutic modality could create future revenue opportunities through development milestones, licensing agreements, or eventual commercialization.
  4. Expansion and Advancement of the Broader Antibody-Drug Conjugate (ADC) Pipeline: Beyond IM-1021, Immunome is actively building a robust pipeline of early-stage ADCs targeting various solid tumors. The company has three preclinical solid-tumor ADCs (IM-1617, IM-1340, IM-1335) with IND-enabling work underway and anticipated IND submissions in 2026. The strategic focus on developing differentiated ADCs with novel targets presents multiple opportunities for future collaboration revenue, milestone payments, and potential product sales as these programs advance.

AI Analysis | Feedback

Share Issuance

  • A new shelf registration for up to approximately $156 million in common stock was reported on March 11, 2026.
  • An underwritten public offering in December 2025 raised $460.5 million in gross proceeds, extending the projected cash runway into 2028.
  • In January 2025, Immunome announced plans for an underwritten public offering to issue and sell $125.0 million of shares of its common stock.

Inbound Investments

  • In October 2023, Immunome completed a merger with Morphimmune, which included a $125 million private placement investment from leading institutional investors such as Enavate Sciences, EcoR1 Capital, Redmile Group, Janus Henderson Investors, Avidity Partners, and Woodline Partners LP.
  • Redmile Group increased its position in Immunome during the fourth quarter of 2025 by 695,000 shares, an estimated $12.20 million trade, bringing their stake to 9.05% of their 13F assets under management as of December 31, 2025.

Outbound Investments

  • In January 2024, Immunome licensed ZPC-21 (now IM-1021), a ROR1 antibody-drug conjugate, and ADC platform technology from Zentalis Pharmaceuticals, with an upfront payment of $35 million in cash and Immunome stock, and potential milestones of up to $275 million plus royalties.
  • On March 26, 2024, Immunome completed the acquisition of varegacestat (formerly AL102) and AL101 from Ayala Pharmaceuticals for an upfront payment of $20 million in cash and $30 million in Immunome common stock, along with an additional $37.5 million in milestones.
  • On December 26, 2023, Immunome announced the acquisition of antibody-related assets and materials from Atreca for an upfront payment of $5.5 million, with potential for an additional $7 million in clinical development milestones.

Capital Expenditures

  • Research and development expenses for the year ended December 31, 2025, were $177.3 million.
  • In-process research and development expenses for the year ended December 31, 2025, were $10.0 million, specifically tied to a development milestone for the Phase 3 RINGSIDE trial of varegacestat.
  • Funds from recent offerings are intended to support the potential commercial launch of varegacestat and the further development of their pipeline, with the company expecting its current cash to fund operations into 2028.

Peer Outperformance in Biotechnology

IMNM has outperformed 77% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that IMNM has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
73%
of 452 industry peers · 14.7% return
3Y
76%
of 398 industry peers · 101.7% return
5Y
77%
of 363 industry peers · -6.9% return
No Biotechnology peer with a comparable growth profile has beaten IMNM by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is IMNM's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 12.8%52.4%94.7% CAH 457% · MCK 390% · COR 183%
Health Care Services 20 18.5%46.9%17.1% HIMS 265% · RDNT 123% · DGX 82%
Health Care Facilities 24 2.4%21.5%6.5% THC 280% · NHC 278% · ENSG 146%
Managed Health Care 8 29.6%2.5%1.6% OSCR 82% · HQY 54% · ELV 9%
Health Care Equipment 50 -1.5%7.9%-13.6% UFPT 372% · GKOS 298% · TMDX 158%
Pharmaceuticals 61 -17.5%1.8%-33.6% LQDA 1088% · KNSA 616% · LLY 447%
Health Care Supplies 11 15.9%-4.2%-39.6% LNTH 339% · HAE 65% · MMSI 29%
Life Sciences Tools & Services 109 -5.8%-1.1%-72.7% MEDP 258% · NTRA 251% · AXGN 168%
Biotechnology ← 364 -25.7%-21.2%-81.5% DNTH 1076% · ELVN 1063% · ADMA 734%
Health Care Technology 22 -33.0%-62.0%-82.5% VEEV 1% · DOCS -48%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

IMNMCLDXCTMXMGNXSTROAMGNMedian
NameImmunome Celldex .CytomX T.Macrogen.Sutro Bi.Amgen  
Mkt Price18.0029.262.312.279.33441.9913.66
Mkt Cap2.02.30.50.10.2238.71.3
Rev LTM00181684638,09532
Op Inc LTM-270-326-87-41-13211,426-110
FCF LTM-228-242-83-66-14610,175-114
FCF 3Y Avg-177-185-82-99-1588,754-129
CFO LTM-209-236-82-64-14512,478-114
CFO 3Y Avg-149-181-82-96-15610,312-123

Growth & Margins

IMNMCLDXCTMXMGNXSTROAMGNMedian
NameImmunome Celldex .CytomX T.Macrogen.Sutro Bi.Amgen  
Rev Chg LTM-100.0%-97.3%-87.0%11.7%-56.3%9.1%-71.6%
Rev Chg 3Y Avg-6.8%9.2%-6.2%68.3%34.4%12.8%11.0%
Rev Chg Q-100.0%-97.0%-92.4%378.0%-84.6%9.5%-88.5%
QoQ Delta Rev Chg LTM-100.0%-81.8%-48.5%18.3%-54.1%2.4%-51.3%
Op Inc Chg LTM-20.4%-38.8%-302.1%51.8%20.4%39.5%-0.0%
Op Inc Chg 3Y Avg-308.5%-39.1%154.5%1.5%-0.8%12.3%0.4%
Op Mgn LTM--206,220.3%-476.2%-24.3%-288.5%30.0%-288.5%
Op Mgn 3Y Avg--70,746.9%-146.9%-186.8%-169.9%24.5%-169.9%
QoQ Delta Op Mgn LTM--170,531.8%-294.3%25.2%-201.1%1.6%-201.1%
CFO/Rev LTM--149,092.4%-450.3%-38.0%-317.7%32.8%-317.7%
CFO/Rev 3Y Avg--51,257.0%-192.3%-153.4%-200.0%29.3%-192.3%
FCF/Rev LTM--153,231.0%-451.4%-39.1%-318.6%26.7%-318.6%
FCF/Rev 3Y Avg--52,655.5%-192.9%-157.2%-201.9%24.9%-192.9%

Valuation

IMNMCLDXCTMXMGNXSTROAMGNMedian
NameImmunome Celldex .CytomX T.Macrogen.Sutro Bi.Amgen  
Mkt Cap2.02.30.50.10.2238.71.3
P/S-14,415.227.70.93.46.36.3
P/Op Inc-7.5-7.0-5.8-3.5-1.220.9-4.7
P/EBIT-7.5-7.0-5.8-1.6-1.118.4-3.7
P/E-8.0-7.6-6.4-9.9-0.927.3-7.0
P/CFO-9.8-9.7-6.2-2.3-1.119.1-4.2
Total Yield-12.5%-13.2%-15.7%-10.2%-116.8%5.9%-12.8%
Dividend Yield0.0%0.0%0.0%0.0%0.0%2.2%0.0%
FCF Yield 3Y Avg-16.2%-8.7%-39.6%-59.6%-157.9%4.9%-27.9%
D/E0.00.00.00.20.10.20.0
Net D/E-0.3-0.3-0.6-1.0-1.00.2-0.5

Returns

IMNMCLDXCTMXMGNXSTROAMGNMedian
NameImmunome Celldex .CytomX T.Macrogen.Sutro Bi.Amgen  
1M Rtn-19.4%-7.1%-15.8%-40.3%-40.6%8.9%-17.6%
3M Rtn-19.0%-17.1%-28.5%-38.6%-59.2%18.2%-23.8%
6M Rtn-23.6%-12.1%-47.4%-28.8%-72.0%30.0%-26.2%
12M Rtn14.7%9.5%-29.0%23.4%-11.1%55.7%12.1%
3Y Rtn101.8%24.5%97.9%-54.2%-66.9%77.7%51.1%
1M Excs Rtn-18.4%-6.0%-14.8%-39.2%-39.6%9.9%-16.6%
3M Excs Rtn-23.1%-20.8%-31.6%-46.1%-64.0%15.3%-27.4%
6M Excs Rtn-30.0%-18.5%-53.8%-35.3%-78.4%23.6%-32.7%
12M Excs Rtn-0.6%-4.3%-45.5%2.5%-33.4%39.6%-2.4%
3Y Excs Rtn32.6%-54.8%-3.8%-133.0%-150.2%-6.7%-30.7%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
BLA761115  TRODELVYsacituzumab govitecan-hziyinjectable4222020     
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
BLA761115  TRODELVYsacituzumab govitecan-hziyinjectable4222020     

Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Development of targeted oncology therapies79140
Total79140


Operating Income by Segment
$ Mil202520242023
Development of targeted oncology therapies-224-306-110
Total-224-306-110


Net Income by Segment
$ Mil202520242023
Development of targeted oncology therapies-212-293-107
Total-212-293-107


Assets by Segment
$ Mil20232022202120202019
Development of targeted oncology therapies1492458455
Total1492458455


Price Behavior

Price Behavior
Market Price$17.99 
Market Cap ($ Bil)2.0 
First Trading Date10/02/2020 
Distance from 52W High-39.7% 
   50 Days200 Days
DMA Price$23.40$22.55
DMA Trenddownindeterminate
Distance from DMA-23.1%-20.2%
 3M1YR
Volatility57.0%61.2%
Downside Capture293.71189.83
Upside Capture140.82176.25
Correlation (S&P 500)30.0%34.4%
IMNM Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.782.181.581.311.681.57
Up Beta5.301.681.041.572.091.32
Down Beta1.824.202.841.311.391.45
Up Capture24%185%151%96%292%841%
Bmk +ve Days6162766132424
Stock +ve Days8223465132369
Down Capture371%250%148%142%122%111%
Bmk -ve Days16263760120328
Stock -ve Days14203061119373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMNM
IMNM13.2%61.2%0.43-
Sector ETF (XLV)24.5%16.3%1.1529.9%
Equity (SPY)14.8%12.7%0.8033.9%
Gold (GLD)-2.8%28.5%-0.1118.7%
Commodities (DBC)52.1%20.7%1.91-15.5%
Real Estate (VNQ)4.3%13.9%0.0619.3%
Bitcoin (BTCUSD)-24.8%43.5%-0.5416.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMNM
IMNM-2.0%88.3%0.36-
Sector ETF (XLV)8.7%15.3%0.3724.9%
Equity (SPY)12.7%17.1%0.5628.3%
Gold (GLD)17.3%18.9%0.736.4%
Commodities (DBC)9.5%19.5%0.37-6.3%
Real Estate (VNQ)1.1%18.9%-0.0522.0%
Bitcoin (BTCUSD)5.7%51.7%0.2921.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IMNM
IMNM1.7%96.9%0.44-
Sector ETF (XLV)11.7%16.8%0.5720.6%
Equity (SPY)15.3%17.9%0.7224.6%
Gold (GLD)11.8%16.4%0.594.4%
Commodities (DBC)8.4%18.1%0.38-4.8%
Real Estate (VNQ)5.2%20.7%0.2117.7%
Bitcoin (BTCUSD)62.4%66.2%1.0214.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity16.8 Mil
Short Interest: % Change Since 91520263.2%
Average Daily Volume1.7 Mil
Days-to-Cover Short Interest9.9 days
Basic Shares Quantity113.3 Mil
Short % of Basic Shares14.8%

Earnings Returns History

Updated 9/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20266.6%5.0%-4.9%
5/12/2026-2.2%-13.4%-19.1%
3/3/20264.5%1.5%4.2%
11/6/2025-1.7%6.5%23.0%
8/6/2025-5.6%-4.3%0.6%
5/12/2025-0.4%0.9%19.5%
3/19/20251.1%-17.3%-7.7%
11/13/2024-3.9%-19.5%8.5%
...
SUMMARY STATS   
# Positive91110
# Negative121011
Median Positive6.6%6.5%11.5%
Median Negative-4.8%-12.5%-7.7%
Max Positive17.4%23.5%46.5%
Max Negative-10.4%-27.6%-44.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20266.6%5.0%-4.9%
5/12/2026-2.2%-13.4%-19.1%
3/3/20264.5%1.5%4.2%
11/6/2025-1.7%6.5%23.0%
8/6/2025-5.6%-4.3%0.6%
5/12/2025-0.4%0.9%19.5%
3/19/20251.1%-17.3%-7.7%
11/13/2024-3.9%-19.5%8.5%
8/12/20247.0%13.1%14.4%
5/14/2024-5.7%-11.6%2.5%
3/28/2024-10.4%-17.9%-44.0%
11/9/2023-5.5%-7.4%-14.4%
8/9/2023-2.1%3.6%-2.5%
5/5/2023-4.1%13.0%-8.3%
3/16/20239.2%14.0%2.3%
11/14/20220.6%-27.6%-7.1%
8/5/202217.4%21.6%24.7%
5/12/202210.4%23.5%46.5%
5/12/2021-9.5%-5.2%-3.9%
3/25/20210.2%1.6%-12.9%
11/17/2020-5.7%-10.2%-6.3%
SUMMARY STATS   
# Positive91110
# Negative121011
Median Positive6.6%6.5%11.5%
Median Negative-4.8%-12.5%-7.7%
Max Positive17.4%23.5%46.5%
Max Negative-10.4%-27.6%-44.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/12/202610-Q
12/31/202503/03/202610-K
09/30/202511/06/202510-Q
06/30/202508/06/202510-Q
03/31/202505/12/202510-Q
12/31/202403/19/202510-K
09/30/202411/13/202410-Q
06/30/202408/12/202410-Q
03/31/202405/14/202410-Q
12/31/202303/28/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/05/202310-Q
12/31/202203/16/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/12/202610-Q
12/31/202503/03/202610-K
09/30/202511/06/202510-Q
06/30/202508/06/202510-Q
03/31/202505/12/202510-Q
12/31/202403/19/202510-K
09/30/202411/13/202410-Q
06/30/202408/12/202410-Q
03/31/202405/14/202410-Q
12/31/202303/28/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/05/202310-Q
12/31/202203/16/202310-K
09/30/202211/14/202210-Q
06/30/202208/05/202210-Q
03/31/202205/12/202210-Q
12/31/202103/28/202210-K
09/30/202111/15/202110-Q
06/30/202108/16/202110-Q
03/31/202105/12/202110-Q
12/31/202003/25/202110-K
09/30/202011/16/202010-Q
06/30/202010/05/2020424B4

Recent Forward Guidance

Updated 10/24/2026

Latest: Q2 2026 Earnings Reported 8/11/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2028 Cash RunwayReported     AffirmedGuidance: 2028 for 2028


Prior: Q1 2026 Earnings Reported 5/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2028 Cash RunwayReported 2028 0 AffirmedGuidance: 2028 for 2028

Q4 2025 Earnings Reported 3/3/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2028 Cash RunwayReported 2028   RaisedGuidance: 2027 for 2027

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2027 Cash RunwayReported 2027   AffirmedGuidance: 2027 for 2027

Insider Activity

Updated 9/15/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Higgins, JackChief Scientific OfficerDirectSell915202625.3213,200334,2241,647,066Form
2Barchas, IsaacDirectSell812202627.2511,048301,0582,512,750Form
3Barchas, IsaacSee footnoteSell812202626.2362,291  Form
4Barchas, IsaacSee footnoteSell812202626.0710,125263,9591,623,926Form
5Barchas, IsaacSee footnoteSell810202626.0615,248397,3631,887,161Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Higgins, JackChief Scientific OfficerDirectSell915202625.3213,200334,2241,647,066Form
2Barchas, IsaacDirectSell812202627.2511,048301,0582,512,750Form
3Barchas, IsaacSee footnoteSell812202626.2362,291  Form
4Barchas, IsaacSee footnoteSell812202626.0710,125263,9591,623,926Form
5Barchas, IsaacSee footnoteSell810202626.0615,248397,3631,887,161Form
6Barchas, IsaacSee footnoteSell810202626.0620,840543,0902,284,524Form
7Horn, KinneyCHIEF BUSINESS OFFICERDirectSell806202625.0990,616  Form
8Horn, KinneyCHIEF BUSINESS OFFICERDirectSell709202625.001,092  Form
9Barchas, IsaacSee footnoteSell707202624.2016,906409,1252,625,797Form
10Barchas, IsaacSee footnoteSell707202624.1183,0942,003,3963,023,635Form
11Lechleider, RobertChief Medical OfficerDirectSell707202622.6255,0001,244,331357,575Form
12Barchas, IsaacSee footnoteSell702202622.59100,0002,258,8484,709,789Form
13Barchas, IsaacSee footnotesSell702202621.12101,0502,134,1766,515,604Form
14Lechleider, RobertChief Medical OfficerDirectSell629202619.8555,0001,091,662313,704Form
15Rosett, MaxChief Financial OfficerDirectSell617202618.2360,0001,093,800985,095Form
16Bienaime, Jean JacquesDirectSell609202619.4110,500203,820638,927Form
17Bienaime, Jean JacquesDirectBuy609202619.4510,500204,260844,566Form
18Bienaime, Jean JacquesDirectBuy519202620.705,000103,500898,690Form
19Higgins, JackChief Scientific OfficerDirectSell403202621.649,438204,238476,080Form
20Rosett, MaxChief Financial OfficerDirectSell403202621.9265,0001,424,9161,184,588Form
21Siegall, Clay BPresident and CEODirectBuy331202619.6725,450500,60213,586,148Form
22Wagenheim, PhilipDirectSell323202620.6528,200582,3307,044,686Form
23Wagenheim, PhilipDirectSell323202620.4736,800753,2967,560,533Form
24Bienaime, Jean JacquesDirectBuy312202621.551,00021,550827,843Form
25Bienaime, Jean JacquesDirectBuy312202622.121,00022,120827,620Form
26Siegall, Clay BPresident and CEODirectBuy1230202521.154,729100,01814,070,122Form
27Barchas, IsaacSee footnotesSell1223202521.72371,9498,078,73244,361,623Form
28Barchas, IsaacSee footnoteSell1223202522.3411,251251,34745,376,584Form
29Siegall, Clay BPresident and CEODirectBuy1222202520.487,278149,05317,623,552Form
30Tsai, PhilipChief Technical OfficerDirectBuy1222202520.4910,000204,900887,217Form
31Siegall, Clay BPresident and CEODirectBuy1218202521.5046,511999,98618,344,810Form

Investor Activity (13F)

Updated Oct 26, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Enavate Sciences GP, LLC$79.0 Mil22.5%7TRIM -24.2%13F
Redmile Group, LLC$121.6 Mil8.1%35Hold13F
Pivotal bioVenture Partners Investment Advisor LLC$16.0 Mil5.7%13Hold13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
EcoR1 Capital, LLC$61.3 Mil2.8%28ExitedDec 31, 202513F
Enavate Sciences GP, LLC$79.0 Mil22.5%7TRIM -24.2%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Redmile Group, LLC$121.6 Mil8.1%35Hold13F
Enavate Sciences GP, LLC$79.0 Mil22.5%7TRIM -24.2%13F
Pivotal bioVenture Partners Investment Advisor LLC$16.0 Mil5.7%13Hold13F
Core Cache Last Updated: 10/24/2026