Immunome (IMNM) Soars 16.31% on Phase 3 Trial Progress, Institutional Confidence Boosts Momentum

Shares of Immunome (IMNM) surged to a 16.31% intraday gain on October 15, 2025, marking the highest level since October 2025. The rally followed renewed investor focus on the biotech firm’s advancing pipeline and strategic milestones, despite ongoing financial pressures.

The stock’s momentum was fueled by progress in Immunome’s Phase 3 RINGSIDE Part B trial for varegacestat, its lead candidate for desmoid tumors. Topline data, expected by year-end, could pave the way for a New Drug Application, leveraging existing Orphan Drug Designations from the FDA and EMA. The compound’s potential as a first-in-class therapy for this rare disease has drawn institutional interest, with 44.58% institutional ownership reinforcing confidence in the long-term outlook.

Analyst optimism further bolstered sentiment, as Craig-Hallum upgraded the stock with a “Buy” rating and $26 price target, implying a 165% upside from recent levels. The firm highlighted upcoming catalysts, including Phase 3 results and early-stage data for IM-1021, a ROR1-targeted ADC. However, mixed signals emerged from the market, with short interest climbing 12.16% in August to cover 19.24% of the float, reflecting divergent views on near-term risks.

Financially, Immunome reported $268 million in cash as of June 2025, projected to fund operations through 2027. Yet Q2 2025 losses of $43.4 million, driven by R&D expenses, underscore the high burn rate typical of clinical-stage biotechs. While cash reserves mitigate immediate dilution risks, earnings trends and a P/E ratio of -1.15 highlight the stock’s volatility. Insiders, however, have invested $978,045 in recent months, signaling alignment with management’s strategic vision.

Looking ahead, key events include Phase 1 trials for IM-3050, a FAP-targeted radioligand therapy, and IND submissions for three new ADCs. These developments could attract partnerships or licensing deals critical for a company with limited revenue streams. Despite competitive challenges in the ADC space, Immunome’s differentiated approach with HC74 payload and Orphan Drug benefits position it to capture niche market opportunities.