Immunome announced a $400 million underwritten public offering of its common stock, with an option for underwriters to purchase an additional $60 million within 30 days. The offering is being made under a shelf registration statement on Form S‑3 that was filed on February 13, 2024 and became effective upon filing.
The offering is led by Leerink Partners, J.P. Morgan, TD Cowen, Goldman Sachs & Co. LLC, and Guggenheim Securities, with Wedbush PacGrow and LifeSci Capital as co‑lead managers. Proceeds will fund the clinical development of Immunome’s three oncology assets—varegacestat, IM‑1021, and IM‑3050—and extend the company’s cash runway through 2028.
Varegacestat, the company’s lead asset, recently reported Phase 3 RINGSIDE trial results that showed an 84 % reduction in risk of disease progression or death, a hazard ratio of 0.16, and an objective response rate of 56 % versus 9 % for placebo. The data support a planned NDA submission in Q2 2026 and position the asset for a potential commercial launch, making the capital raise critical to capitalize on the opportunity.
The company’s prior public offering in February 2024 raised $230 million, and the current offering will increase total equity capital to support the accelerated development schedule. Management emphasized that the new capital will also provide a buffer against potential cost escalations and regulatory milestones, while maintaining a disciplined approach to dilution.
Immunome has an at‑the‑market program with remaining capacity, and the company has no dividend policy, underscoring its focus on reinvesting proceeds into pipeline development rather than shareholder payouts.
The shelf registration statement on Form S‑3, filed on February 13 2024, became effective upon filing, allowing the company to issue shares over a 12‑month period and providing flexibility to meet funding needs as they arise.
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