ImageneBio Inc. Common Stock (IMA)

FairStock Score: 37/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable businesses at reasonable prices. ImageneBio is a clinical-stage biopharmaceutical company with no approved product and only 18 employees. In fiscal 2025, the year ended 2025-12-31, revenue was $800,000 and net loss $45.3 million, or -$9.64 per diluted share. In fiscal 2024, the year ended 2024-12-31, revenue was $3.5 million and net loss $36.6 million. In fiscal 2023, revenue was $9.2 million and net loss $68.2 million. Revenue is collapsing, not growing. Recent quarters continue the bleed: fiscal Q1 2026, quarter ended 2026-03-31, net loss $10.6 million; fiscal Q2 2026, quarter ended 2026-06-30, net loss $10.2 million. Trailing free cash flow was -$52.6 million, a FairStock FCF yield of -109.3%, meaning cash burn is enormous relative to the $48.1 million market cap at the 2026-10-13 close. The balance sheet has low leverage—D/E 0.01—and P/B is 0.34 by FairStock calculation, but book value in biotech is mainly cash being consumed. ROE is -82.68% and ROCE -43.06%. Piotroski 3/9 and Altman Z 1.52 suggest weak financial quality and distress risk. There is no Lynch category because losses occurred in each of the last four years. The only real asset is IMG-007, in Phase 1b/2a. That is a lottery ticket, not a moat. Without profits, pricing power, or a margin of safety from durable assets, this does not meet my standards.

In plain English: ImageneBio is a tiny testing-stage biotech with 18 employees; it is trying to develop an antibody for immune and inflammatory diseases. It has almost no sales and loses money, with revenue falling to $800,000 in fiscal 2025 from $3.5 million in fiscal 2024. The $4.24 share price looks cheap against its accounting value, but the business is weak and burning cash, so the low price reflects high risk rather than a clear bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer