Immunome drops on $150 mln stock sale

Immunome

30/01/2025 12:31

** Shares of Immunome Inc  IMNM.O  down 10% to $8.42 before the
bell after overnight follow-on priced
** Bothell, Washington-based oncology specialist late Weds
announced ~19.3 mln shares at $7.75 for $150 mln gross raise
    ** Deal size boosted from $125 mln, priced at 17.1% discount
to last sale
    ** JP Morgan, TD Cowen, Leerink and Guggenheim jt
bookrunners
** Co plans to use net offering proceeds to fund
clinical/preclinical development of pipeline assets, and general
purposes, per the SEC filing
** With ~62.42  mln shares outstanding, IMNM has ~$584 mln
market cap, per LSEG data
    ** Through Weds close, stock down 12% YTD and down ~50% over
the past 12 months
    ** Still, all 7 analysts covering IMNM are bullish,
including 4 "strong buy" ratings with median PT of $31.50 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))