Immunome, Inc. (IMNM)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$17.99-1.48%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Immunome, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	153,846
EPS	—	-0.642
Annual ending 2026-12-31
Revenue	—	307,692
EPS	—	-2.322
Annual ending 2027-12-31
Revenue	—	48.68M
EPS	—	-2.432

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain cash to fund operations through 2028	The company aims to fund operations through 2028, supporting continued development.	Intact	Company fails to maintain cash to fund operations through 2028	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated in 3 of last 3 quarters. Cash and cash equivalents declined from $653.5M in 2025-Q4 to $582.7M in 2026-Q1, reflecting cash burn but management maintains the expectation that current cash will fund operations into 2028. The trajectory shows ongoing cash usage but consistent with the stated runway. Delivery assessment Oct 24, 2026
Reduce losses and improve EPS trajectory	A supporting condition in Immunome, Inc.'s published investment case. The stated target is EPS loss narrows toward -$2.1 or better in FY26 and FY27.	Intact	EPS loss worsens beyond -$2.1 in FY26 or FY27	Diluted EPS: $-0.65 per share FY2026-Q2; GAAP. Published target: EPS loss narrows toward -$2.1 or better in FY26 and FY27. Target period is not explicitly aligned with this observation. Source published Aug 11, 2026-0.65 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: a2579462-4532-4ad2-a38a-380e3f327439. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Positive Phase 3 RINGSIDE trial data for varegacestat	Immunome is developing antibody therapies with promising Phase 3 data for varegacestat.	Under Pressure	Negative Phase 3 RINGSIDE data undermines trial objectives	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-2.43

$-2.18 → $-2.43 · observed estimates

FY2027 revenue$0.05B

$0.06B → $0.05B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-2.18	$56,307,893	9 / 8
2026-07-25	$-2.12	$64,623,090	11 / 11
2026-07-26	$-2.12	$64,623,090	11 / 11
2026-07-27	$-2.12	$64,623,090	11 / 11
2026-07-28	$-2.18	$56,307,893	9 / 8
2026-07-29	$-2.12	$64,623,090	11 / 11
2026-07-30	$-2.12	$64,623,090	11 / 11
2026-07-31	$-2.12	$64,623,090	11 / 11
2026-08-01	$-2.18	$56,307,893	9 / 8
2026-08-02	$-2.12	$64,623,090	11 / 11
2026-08-03	$-2.18	$56,307,893	9 / 8
2026-08-04	$-2.12	$64,623,090	11 / 11
2026-08-05	$-2.12	$64,623,090	11 / 11
2026-08-06	$-2.12	$64,623,090	11 / 11
2026-08-07	$-2.18	$56,307,893	9 / 8
2026-08-08	$-2.12	$64,623,090	11 / 11
2026-08-09	$-2.12	$64,623,090	11 / 11
2026-08-10	$-2.18	$56,307,893	9 / 8
2026-08-12	$-2.18	$56,307,893	9 / 8
2026-08-13	$-2.18	$56,307,893	9 / 8
2026-08-14	$-2.18	$56,307,893	9 / 8
2026-08-15	$-2.18	$56,307,893	9 / 8
2026-08-16	$-2.18	$56,307,893	9 / 8
2026-08-17	$-2.18	$56,307,893	9 / 8
2026-08-18	$-2.18	$56,307,893	9 / 8
2026-08-19	$-2.18	$56,307,893	9 / 8
2026-08-20	$-2.47	$53,346,357	9 / 8
2026-08-21	$-2.47	$53,346,357	9 / 8
2026-08-22	$-2.47	$53,346,357	9 / 8
2026-08-23	$-2.47	$53,346,357	9 / 8
2026-08-24	$-2.47	$53,346,357	9 / 8
2026-08-25	$-2.47	$53,346,357	9 / 8
2026-08-26	$-2.47	$53,346,357	9 / 8
2026-08-27	$-2.47	$53,346,357	9 / 8
2026-08-28	$-2.47	$53,346,357	9 / 8
2026-08-29	$-2.47	$53,346,357	9 / 8
2026-08-30	$-2.47	$53,346,357	9 / 8
2026-08-31	$-2.47	$53,346,357	9 / 8
2026-09-01	$-2.47	$53,346,357	9 / 8
2026-09-02	$-2.47	$53,346,357	9 / 8
2026-09-03	$-2.47	$53,346,357	9 / 8
2026-09-04	$-2.47	$53,346,357	9 / 8
2026-09-05	$-2.47	$53,349,267	9 / 8
2026-09-06	$-2.47	$53,349,267	9 / 8
2026-09-07	$-2.47	$53,349,267	9 / 8
2026-09-08	$-2.47	$53,349,267	9 / 8
2026-09-09	$-2.47	$53,349,267	9 / 8
2026-09-10	$-2.47	$53,349,267	9 / 8
2026-09-11	$-2.47	$53,349,267	9 / 8
2026-09-12	$-2.47	$53,349,267	9 / 8
2026-09-13	$-2.47	$53,349,267	9 / 8
2026-09-14	$-2.47	$53,349,267	9 / 8
2026-09-15	$-2.47	$53,349,267	9 / 8
2026-09-16	$-2.47	$53,349,267	9 / 8
2026-09-17	$-2.47	$53,349,267	9 / 8
2026-09-18	$-2.47	$53,349,267	9 / 8
2026-09-19	$-2.47	$53,349,267	9 / 8
2026-09-20	$-2.47	$53,349,267	9 / 8
2026-09-21	$-2.47	$53,349,267	9 / 8
2026-09-22	$-2.42	$52,235,161	9 / 9
2026-09-23	$-2.42	$52,235,161	9 / 9
2026-09-24	$-2.42	$52,235,161	9 / 9
2026-09-25	$-2.42	$52,235,161	10 / 9
2026-09-26	$-2.42	$52,235,161	10 / 9
2026-09-27	$-2.42	$52,235,161	10 / 9
2026-09-28	$-2.42	$52,235,161	10 / 9
2026-09-29	$-2.42	$52,235,161	10 / 9
2026-09-30	$-2.42	$52,235,161	10 / 9
2026-10-01	$-2.46	$51,981,302	10 / 9
2026-10-02	$-2.43	$51,981,302	10 / 10
2026-10-03	$-2.43	$51,981,302	10 / 10
2026-10-04	$-2.43	$51,981,302	10 / 10
2026-10-05	$-2.43	$51,981,302	10 / 10
2026-10-06	$-2.43	$51,981,302	10 / 10
2026-10-07	$-2.43	$51,981,302	10 / 10
2026-10-08	$-2.43	$51,981,302	10 / 10
2026-10-09	$-2.43	$51,981,302	10 / 10
2026-10-10	$-2.43	$51,981,302	10 / 10
2026-10-11	$-2.43	$51,981,302	10 / 10
2026-10-12	$-2.43	$51,981,302	10 / 10
2026-10-13	$-2.43	$51,981,302	10 / 10
2026-10-14	$-2.43	$51,981,302	10 / 10
2026-10-15	$-2.43	$51,981,302	10 / 10
2026-10-16	$-2.43	$51,981,302	10 / 10
2026-10-17	$-2.43	$51,981,302	10 / 10
2026-10-18	$-2.45	$48,675,495	11 / 11
2026-10-19	$-2.45	$48,675,495	11 / 11
2026-10-20	$-2.45	$48,675,495	11 / 11
2026-10-21	$-2.45	$48,675,495	11 / 11
2026-10-22	$-2.45	$48,675,495	11 / 11
2026-10-23	$-2.43	$48,675,495	11 / 11
2026-10-24	$-2.43	$48,675,495	11 / 11

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	15	0
2026-06-01	15	0
2026-07-01	14	0
2026-08-01	14	0
2026-09-01	15	1
2026-10-01	16	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 16 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Stifel NicolausSep 30

$24.00New observation · no comparable prior

$0$13.20$26.40

0 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain cash to fund operations through 2028Direct metric needs a verified mapping
Reduce losses and improve EPS trajectoryDiluted EPS: $-0.65 per share
Positive Phase 3 RINGSIDE trial data for varegacestatPublished status: Under Pressure

Next proof point

Nov 5, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.8%Typical daily move · historical

Downside history

-44.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Immunome, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a speculative clinical-stage biotech, not an established earnings compounder. The long-term thesis is in a watch state: pipeline milestones have advanced, but recent financial performance is weak and the business remains loss-making.

What's priced into Immunome, Inc.

The valuation is about 17.7% above peers, with low confidence in the valuation model and pipeline optionality as the main reason for the difference. The evidence does not show that weak results are fully reflected in expectations, though the priced-in fragility assessment is low.

What the fundamentals likely do

Near term, continued losses and cash use are likely as management advances clinical trials; cash declined from $653.5 million to $582.7 million in the first quarter of 2026, while management expects funding into 2028. The NDA submission for varegacestat and positive topline RINGSIDE results mark progress, but the next report carries elevated miss risk and recent performance trails the industry cohort.

What Immunome, Inc. hinges on

Over the multi-year view, the key question is whether pipeline progress, including the detailed Phase 3 RINGSIDE data and trials for IM-1021, IM-1617, and IM-3050, can support the development strategy. Near term, guidance and cash use matter; weakening employment data could pressure healthcare names, while strong results from sector peers could improve the backdrop.