24/7 Market News Snapshot 30 January, 2025 – Immunome, Inc. (NASDAQ:IMNM)

January 30, 2025

DENVER, Colo., 30 January, 2025 (247marketnews.com) – (Nasdaq:IMNM) are discussed in this article.
Immunome, Inc. (Nasdaq:IMNM), a biotechnology company focused on innovative cancer therapies, has announced a substantial public offering aimed at enhancing its promising therapeutic pipeline. Priced at $7.75 per share, the company plans to issue 19,354,839 shares, which could generate gross proceeds of approximately $150 million before deducting underwriting discounts and commissions. The offering is supported by a 30-day option granted to underwriters to purchase an additional 2,903,225 shares, potentially increasing capital raised to accelerate research and development efforts.

The closing of this transaction is anticipated for January 31, 2025, pending standard closing conditions. This initiative reflects Immunome’s strategic objectives to bolster its research capabilities and expedite the development of its cancer treatments, including its lead candidate, varegacestat, in a Phase 3 trial for desmoid tumors. Moreover, the company is advancing several other promising therapies, notably IM-1021, an active ROR1 antibody-drug conjugate, and IM-3050, a targeted radioligand therapy, all with the aim of delivering innovative solutions for patients battling cancer.

Investor interest in Immunome has been notably high, as demonstrated in recent trading sessions, where the stock began at $9.55 and advanced approximately 8.79%, reaching $10.172, propelled by significant trading volume surpassing its average. The enthusiastic market response suggests a favorable outlook for the company’s developments.

Leading the public offering are prominent underwriters including J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities, with Wedbush PacGrow serving as the lead manager. This significant financing initiative underscores Immunome’s commitment to reshaping cancer treatment paradigms and providing hope for improved patient outcomes. The offering proceeds will play a vital role as the company pivots toward the next stages of clinical development and commercialization of its groundbreaking therapies.

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