IMNM Soars 19.6% on Groundbreaking Trial Success: What’s Next for This Biotech Powerhouse?

Summary
• Immunome (IMNM) surges 19.6% intraday, hitting a 52-week high of $25.30
• Phase 3 RINGSIDE trial of varegacestat meets primary and all secondary endpoints
• NDA submission to FDA planned for Q2 2026, with 56% ORR vs. 9% in placebo
• Options chain erupts with 121.99% implied volatility on $24 call and 100.77% on $22 put
Immunome’s stock has ignited a 19.6% rally on the heels of blockbuster Phase 3 trial results for varegacestat, a gamma secretase inhibitor targeting desmoid tumors. The stock traded as high as $25.30 (52-week peak) and as low as $21.22, reflecting a volatile yet decisively bullish day. With a 11.47% turnover rate and a dynamic P/E of -11.3, the market is recalibrating its view of this biotech contender.

Varegacestat’s 84% Risk Reduction Sparks Biotech Rally
Immunome’s 19.6% intraday surge stems from the RINGSIDE trial’s unprecedented success: varegacestat reduced disease progression risk by 84% (HR=0.16, p<0.0001) and achieved a 56% objective response rate versus 9% in placebo. The drug’s manageable safety profile—despite 82% diarrhea and 44% fatigue—positions it as a potential standard of care for desmoid tumors, a rare but debilitating condition. The FDA NDA filing in Q2 2026 adds regulatory clarity, while the CEO’s assertion of ‘best-in-class’ potential amplifies investor optimism.

Biotech Sector Volatility: BMY Up 3.5%, IDNA Flat
The broader biotech sector remains mixed, with Bristol-Myers Squibb (BMY) rising 3.5% on positive anticoagulant data. However, leveraged ETFs like IDNA (0.34% up) and CANC (0.82% up) show muted momentum compared to IMNM’s explosive move. This divergence highlights Immunome’s trial-driven outperformance versus sector peers, which face regulatory and clinical headwinds.

Options and ETFs to Capitalize on IMNM’s Bullish Momentum
• IDNA (iShares Genomics Immunology and Healthcare ETF): 0.34% up, 26.50 price
• CANC (Tema Oncology ETF): 0.82% up, 34.92 price
• MACD: 0.93 (bullish), RSI: 56.1 (neutral), Bollinger Bands: 20.59 (upper), 18.68 (middle)
• 200D MA: 10.97 (far below current price), Kline Pattern: Short- and long-term bullish
IMNM’s technicals scream momentum: a 19.6% intraday pop, 52-week high, and 11.47% turnover rate. The 56.1 RSI suggests no overbought conditions, while the 0.93 MACD and 0.95 signal line hint at sustained upward pressure. The 200D MA at $10.97 underscores a multi-year breakout. For leveraged exposure, IDNA and CANC offer sector alignment but lack IMNM’s trial-driven catalyst.
Top Options:
• IMNM20251219C24 (Call, $24 strike, 12/19 expiry):
- IV: 121.99% (high volatility)
- LVR: 23.25% (moderate leverage)
- Delta: 0.44 (balanced sensitivity)
- Theta: -0.2077 (rapid time decay)
- Gamma: 0.1195 (high sensitivity to price swings)
- Turnover: 15,015 (liquid)
- Payoff at 5% upside ($24.57): $0.57/share
- Why: High IV and gamma make this call ideal for a short-term rally, with liquidity to enter/exit.
• IMNM20260116C26 (Call, $26 strike, 1/16 expiry):
- IV: 101.99% (moderate)
- LVR: 12.57% (moderate)
- Delta: 0.42 (balanced)
- Theta: -0.0523 (slow decay)
- Gamma: 0.0549 (moderate sensitivity)
- Turnover: 19,935 (liquid)
- Payoff at 5% upside ($24.57): -$1.43/share (out of the money)
- Why: Lower delta and theta suit a longer-term hold, capitalizing on NDA-driven optimism.
Action: Aggressive bulls should target IMNM20251219C24 for a 5-day rally, while conservative investors may hold IMNM20260116C26 for NDA event-driven gains.

Backtest Immunome Stock Performance
The backtest of IMNM's performance after a 20% intraday surge from 2022 to now shows favorable results. The 3-Day win rate is 48.92%, the 10-Day win rate is 52.59%, and the 30-Day win rate is 58.41%, indicating a higher probability of positive returns in the short term. The maximum return during the backtest was 18.54% over 30 days, suggesting that IMNM can deliver significant gains even after the initial 20% surge.

IMNM’s 19.6% Rally: A Biotech Breakout or Bubble?
Immunome’s 19.6% surge reflects a paradigm shift in desmoid tumor treatment, with varegacestat’s 56% ORR and 84% risk reduction redefining the drug’s potential. The stock’s 52-week high and 11.47% turnover rate signal strong institutional interest, while the options chain’s 121.99% IV on the $24 call underscores speculative fervor. However, the -11.3 dynamic P/E and -0.60% SBIO ETF decline caution against overvaluation. Watch for BMY’s 3.5% sector lead and IMNM’s 12/19 options expiry—a $24.50 close could trigger a 5% upside payoff on the $24 call. For now, the NDA timeline and trial data durability are the keys to sustaining this momentum.