Reading IMA? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track IMA free→Reading IMA? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track IMA free→NASDAQHealth CareBiotechnologySnapshot 2026-06-16
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is neutral. Earnings quality is not assessable since the company was unprofitable over the past year. Management's recent track record has been unsteady, with frequent changes. Risk is high, and the sector backdrop is a headwind. Compared with sector peers, IMA trades below typical levels. Peer multiples imply a price about 41% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples, but recent financials are weak. The read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $5.45. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $5.54 IMA trades at 11× p/s, in line with its 9× p/s peer median. Our $8.89 fair value reflects that, medium confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price sits about 38% below a flat-multiple fair value; not enough history to forecast a comparison. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 1.11x of net income into operating cash flow.
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, Fed net liquidity, long-term interest rates, real (inflation-adjusted) rates.
17 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated volatile grew net income 43% of the time over the next year (vs 57% for the rest of the cohort, n=600).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.99 → $-0.98 (+1.3% / 30d). 1 raised, 1 cut, 3 covering analysts.
0 upgrades, 0 downgrades / 30d. 67% of analysts rate Buy.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$228.
How much price usually moves either way.
On a bad day, this stock has moved -$592.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $7,458.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: The earnings report will show if the company can improve its financial situation. Investors will look for signs of recovery.
Confirms one read:Earnings report shows revenue growth above 10% year over year.
Confirms the other:Earnings report shows continued revenue decline or losses.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for IMA yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition On May 7, 2026, ImageneBio, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 2.02, including the attached Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities o…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
Looks more expensive than peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Biotechnology.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
IMA ImageneBio Inc | Below typical Show detailsSector percentile: 9 of 100 | inexpensive | high |
ABBV AbbVie | Above typical Show detailsSector percentile: 85 of 100 | fair | low |
AMGN Amgen | Above typical Show detailsSector percentile: 81 of 100 | full | moderate |
GILD Gilead Sciences | Above typical Show detailsSector percentile: 99 of 100 | fair | moderate |
VRTX Vertex Pharmaceuticals | Above typical Show detailsSector percentile: 80 of 100 | expensive | moderate |
Not investment advice. As of 2026-06-16.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-16.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
The company aims to expand the development of IMG-007 into additional indications, including alopecia areata.
The company intends to use funds to support late-phase development readiness in atopic dermatitis.
The company expects to maintain its cash runway through the end of 2027.
Why it matters: If healthcare revenue growth speeds up, it could help ImageneBio's performance. This would signal a better market environment.
Confirms:Healthcare sector revenue growth shows an increase back toward 10% or higher.
Disproves:Healthcare sector revenue growth continues to slow below 10%.
Entry into a Material Definitive Agreement. Securities Purchase Agreement On April 12, 2026, ImageneBio, Inc., a Delaware corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional and accredited investors (the “Investors”), pursuant to which the Company agreed to sell and issue pre-funded warrants to purchase shares of the Company’s voting common stock, par value $0.001 (“Common Stock” and the shares subject to the pre-fund…
The Company expects to use the net proceeds from the Closing of the Private Placement, together with the Company’s existing cash and cash equivalents, to support late-phase development readiness in atopic dermatitis, expand development of IMG-007 into additional indications, including alopecia areata. The securities described above under
Results of Operations and Financial Condition On March 10, 2026, ImageneBio, Inc. (the “Company”) announced its financial results for the quarter and fiscal year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 2.02, including the attached Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subjec…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 12, 2026, ImageneBio, Inc. (the “Company”) and Erin Butler, the Company’s Senior Vice President, Finance & Administration and Principal Accounting Officer, agreed to a mutual separation effective March 20, 2026 (the “Butler Separation Date”). Effective as of the Butler Separation Date, Ms. Butler will no longer serve as the Company’s Princ…