Immunome Inc. Common Stock (IMNM)

FairStock Score: 36/100 — MIXED

Key Financials

AI Analysis

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

I look for businesses that can earn durable profits and be bought at sensible prices. Immunome does not fit that mold yet. It is a clinical-stage oncology company with two main assets: Varegacestat in Phase 3 for desmoid tumors and IM-1021 in Phase 1. In fiscal 2025, the year ended 2025-12-31, revenue was $6.9M and net loss was $212.4M, or $2.43 per diluted share. The trend is poor: fiscal 2024 revenue was $9.0M and net loss was $293.0M, while fiscal 2023 revenue was $14.0M and net loss was $106.8M. Revenue has shrunk while losses remain enormous. In fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $73.1M, or $0.65 per diluted share, and no revenue was reported. Free cash flow is negative $228.1M trailing, an FCF yield of -11.4% at the 2026-10-13 close. At the 2026-10-13 close, FairStock calculations show P/E -6.95, P/B 3.80, ROE -64.03%, and Piotroski 1/9. The balance sheet appears lightly levered with D/E 0.01, but cash burn is the real risk. There is no meaningful moat from commercial operations; any moat must come from patents, trial data, and regulatory success, which are uncertain. The $2.0B market cap is a bet on pipeline outcomes, not on present earnings. Graham would demand a margin of safety from assets or earnings; here, value rests on future cash flows that are unproven. The FairStock Score of 36/100 and the Lynch category of none, because of losses in each of the last four years, reinforce that this is speculative rather than classic value.

In plain English: Immunome is a small healthcare company trying to develop cancer treatments. It is not profitable, brings in very little revenue, and is burning through cash, so the business looks weak on its current numbers. At $17.58 a share, the price mostly reflects hopes for future drug trials rather than today's profits, making it hard to call cheap or expensive using ordinary financial measures.

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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