Immunome 2025 Q2 Earnings Narrowed EPS Loss, 69.8% Revenue Growth

Immunome reported its Q2 2025 earnings on August 6, 2025, delivering a significant revenue increase but continuing to post net losses. The company's performance reflects mixed signals—strong top-line growth coupled with persistent operational challenges.

Immunome's Q2 revenue rose 69.8% year-over-year to $4.01 million, driven entirely by its collaboration revenue.

Despite a 16.7% improvement in EPS, the company's net loss expanded to $43.40 million in Q2 2025, up 20.1% from the previous year, signaling ongoing financial pressures despite stronger revenue performance.

Collaboration revenue accounted for the full $4.01 million in revenue, with no other revenue segments reported.

The company narrowed its loss per share to $0.50 from $0.60 in the prior year, representing a modest improvement. However, the overall net loss worsened, underscoring the company’s difficulty in translating revenue into profitability.

The post-earnings trading strategy of buying shares after a revenue increase and holding for 30 days proved highly effective over the past three years. This approach yielded a 96.61% return, outperforming the 48.58% benchmark by 48.03%. With a compound annual growth rate of 26.29%, the strategy demonstrated strong long-term performance, supported by a Sharpe ratio of 0.28 and zero maximum drawdown.

Clay B. Siegall, Ph.D., CEO of Immunome, highlighted significant progress in Q2, including key clinical program advancements. He expressed optimism about the RINGSIDE trial’s topline data and the potential for an NDA submission. Siegall also emphasized progress in ADC development, including the HC74 payload and three additional IND submissions.

Immunome expects to report topline data for the Phase 3 RINGSIDE Part B study by year-end 2025 and aims to submit a new drug application as appropriate. The company is on track to file INDs for three additional ADCs using HC74 and initiate a Phase 1 trial for IM-3050 before the end of 2025. With approximately $268.0 million in cash, cash equivalents, and marketable securities, Immunome believes it has sufficient funding to operate through 2027.

In the three weeks following the earnings report, Immunome announced several key updates across its clinical and development pipelines. The company advanced its IM-1021 program, focusing on dose escalation and preparing for the next phase of clinical trials. It also shared updates on preclinical ADCs, emphasizing the progress of three new programs using the HC74 payload. Additionally, Immunome confirmed timelines for IND submissions and clinical milestones, offering clarity on its near-term development goals.