Immunome Reports Second Quarter 2021 Financial Results


– Demonstrated potent neutralizing activity of IMM-BCP-01 against the delta variant of SARS-CoV-2 in preclinical pseudovirus tests –

– IMM-BCP-01: Cocktail of selected antibodies, progressing towards the deposit of the IND –

– Awarded an additional $ 4.3 million by the US Department of Defense –

– Raised of $ 27 million in gross proceeds in a private placement –

EXTON, Pennsylvania, August 19, 2021– (BUSINESS WIRE) – Immunome, Inc. (Nasdaq: IMNM), a biopharmaceutical company that uses its human memory B-cell platform to discover and develop first-class therapeutic antibodies, today announced its financial results for the second quarter ended June 30, 2021 and provided a company update.

“We made great progress during the second quarter in the development of IMM-BCP-01, our antibody cocktail to fight SARS-CoV-2. We finalized the selection of antibodies for the cocktail, secured increased funding for the Department of Defense program, and demonstrated the potent neutralizing activity of IMM-BCP-01 against all of the SARS-CoV- variants of concern. 2, including the Delta variant, in preclinical testing. We believe we are well positioned for an IND case for this program in the third quarter, ”said Purnanand Sarma, Ph.D., President and CEO of Immunome. “We continued to strengthen the company with a number of executive and non-executive appointments, in addition to a successful fundraiser. We believe these activities prepare us for some short-term value-creating events, including our fourth quarter IL-38 immuno-oncology program. I look forward to keeping you posted on our progress in the months to come. “

Highlights of the second quarter and beyond

  • Demonstrated potent neutralizing activity of IMM-BCP-01 against the delta variant of SARS-CoV-2. In July 2021, Immunome announced that its triple antibody cocktail (IMM-BCP-01) demonstrated potent neutralizing activity against the SARS-CoV-2 Delta variant in preclinical pseudovirus testing. An investigational new drug submission (IND) for IMM-BCP-001 is scheduled for 3Q 2021.

  • Antibodies selected for the IMM-BCP-001 antibody cocktail. In April 2021, the company announced the selection of antibodies for its IMM-BCP-01 cocktail and shared data showing that IMM-BCP-01 neutralizes CDC SARS-CoV-2 “variants of concern” during preclinical tests. The cocktail was effective in Syrian hamsters infected with SARS-CoV-2 (USA-WA1 / 2020) in prophylactic and therapeutic programs. In addition, the cocktail neutralized Alpha and Beta variants in live virus tests and Gamma and Epsilon variants in pseudovirus tests.

  • Completion of a private placement of $ 27 million. In April 2021, the company announced a private placement of its common shares for gross proceeds to Immunome of approximately $ 27 million, before the deduction of placement agent commissions and other offering fees.

  • Awarded $ 4.3 million by the US Department of Defense (DoD). In May 2021, Immunome announced that the Executive Office of the DoD Joint Program for Chemical, Biological, Radiological and Nuclear Defense had awarded the company $ 4.3 million. These funds were in addition to the initial price of Immunoma of $ 13.3 million provided by the DoD in July 2020. (Contract number: W911QY2090019)

  • Appointed Corleen Roche as CFO. In April 2021, Immunome announced that it had appointed Corleen Roche as CFO. Ms. Roche is a highly accomplished CFO with over 30 years of industry experience.

  • Appointed Franklyn G. Prendergast, MD, Ph.D., to Board of Directors. In June 2021, the company announced that it had appointed Dr Prendergast to its board of directors. Dr Prendergast is a renowned medical and academic research professional who received the 2019 Mayo Distinguished Alumni Award and has more than 45 years of association with the Mayo Foundation. Over the past 20 years, Dr. Prendergast has served on the board or scientific advisory board of several biotechnology companies.

  • Appointed Andrew Badley, MD, to COVID-19 Advisory Board. In June 2021, Immunome announced the appointment of Andrew D. Badley, MD, to the company’s COVID-19 advisory board. Dr Badley is a renowned infectious disease expert who spent 19 years at the Mayo Clinic in various roles. He is currently chair of the Mayo Clinic COVID-19 Research Working Group.

Financial Highlights

About Immunoma

Immunome is a biopharmaceutical company that uses its proprietary human memory B cell platform to discover and develop first-class therapeutic antibodies designed to change the way diseases are treated. The company’s initial goal is to develop therapies to treat oncology and infectious diseases, including COVID-19. Immunoma’s proprietary discovery engine identifies novel therapeutic antibodies and their targets by taking advantage of highly educated components of the immune system, memory B cells, in patients whose bodies have learned to fight their disease. For more information, please visit www.immunome.com.

Forward-looking statements

This press release includes certain disclosures that contain “forward-looking statements” intended to qualify for the “safe harbor” of liability established by the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to limit, express or implied statements regarding beliefs and expectations regarding the advancement of its therapeutic antibody programs in oncology and COVID-19, the execution of its clinical and strategic plans, the next steps planned for IMM-BCP-01 and IMM-ONC-01, including expectations regarding therapeutic potential and benefits thereof, and IND filings. Forward-looking statements may be identified by the words “anticipate”, believe “,” estimate “,” expect “,” intend “,” plan “,” plan “,” may “,” may “. , “Could”, “” should “,” seek “,” potential “and similar expressions. Forward-looking statements are based on Immunoma’s current expectations and are subject to uncertainties, risks and inherent assumptions which are difficult Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties associated with: the impact of the COVID-19 pandemic on business, operations, strategy, Immunome’s objectives and planned milestones; uncertainties inherent in research and development, including the ability of Immunome to execute its strategy with respect to its R&D efforts, IND filings, initiation of studies clinics and other anticipated milestones in as and when forecasts are made; the efficacy of Immunoma product candidates, including the possibility that other preclinical data and any clinical trial data may be inconsistent with the data used to advance the product candidates; the ability of Immunome to finance its operations; the competitive landscape; and the additional risks and uncertainties set out in more detail under the heading “Risk Factors” in Immunome’s Form 10-K filed with the United States Securities and Exchange Commission (SEC) on March 25, 2021, and elsewhere in Immunoma files and reports to SECOND. The forward-looking statements contained in this announcement are made as of this date, and Immunome assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except if it may be required under law.

IMMUNOMA, INC.

Condensed income statements

(Unaudited; in thousands, except per share and per share data)

Three months ended June 30

Six months ended June 30

2021

2020

2021

2020

Operating costs :

Research and development

$

3 233

$

1,892

$

5,212

$

4,007

general and administrative

2 507

823

4,425

1,363

Total operating expenses

5,740

2,715

9 637

5,370

Operating loss

(5,740

)

(2,715

)

(9,637

)

(5,370

)

Other income

500

500

Net interest income (expense)

(1

)

5

(2

)

(17

)

Net loss

$

(5,241

)

$

(2,710

)

$

(9,139

)

$

(5,387

)

Information per share:

Net loss per share of common shares, basic and diluted

$

(0.46

)

$

(2.47

)

$

(0.83

)

$

(4.89

)

Weighted average common shares outstanding, basic and diluted

11,456,991

1,099,270

11,051,185

1,101,798

IMMUNOMA, INC.

Condensed balance sheets

(Unaudited; in thousands, except share data)

June 30, 2021

December 31, 2020

Assets

Current assets:

Cash

$

59,829

$

39 766

Prepaid expenses and other current assets

2 986

3 128

Total current assets

62 815

42,894

Property and equipment, net

1 226

1,531

Restricted species

100

100

Total assets

$

64 141

$

44 525

Liabilities and equity

Current liabilities :

Accounts payable

1790

1 187

Accrued charges and other current liabilities

1,687

1372

Equipment loan payable

44

113

Long-term debt portion

366

Total current liabilities

3,521

3,038

Long-term debt, net of current portion

134

Deferred rent

3

8

Total responsibilities

3,524

3 180

Commitments and contingencies (note 6)

Equity:

Common shares, par value of $ 0.0001; 200,000,000 shares authorized on June 30, 2021 and December 31, 2020; 11,812,792 shares issued and outstanding as of June 30, 2021; 10,634,245 shares issued and outstanding as of December 31, 2020

1

1

Premium

124,149

95,738

Accumulated deficit

(63,533

)

(54,394

)

Total equity for shareholders

60,617

41 345

Total liabilities and equity

$

64 141

$

44 525

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210819005683/en/

Contacts

Contact Immunoma
Corleen Roche
Financial director
Immunoma, Inc.
[email protected]

Investor contact
Laurence Watts
General manager
Gilmartin, LLC
[email protected]

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