Immunome Eliminates BMS Royalties, Gains AL101 and Varegacestat Patents for $20M and 4.43M Shares

William Blair initiated coverage on Immunome Inc. (IMNM) with an Outperform rating and a $35 price target, citing potential 100% upside. The biotech firm is developing varegacestat for desmoid tumors, with projected $1.4B sales by 2032. IMNM stock has fallen 11% in a week. Analysts have a Strong Buy consensus, with targets ranging from $24 to $40. The company recently dosed the first patient in a Phase 1 trial for IM-3050 and secured a licensing deal with Bristol for varegacestat.

Stifel maintained a Hold rating and $24.00 price target on Immunome (NASDAQ:IMNM) after its licensing deal with Bristol. The stock trades at $21.17, below the analyst consensus. Immunome paid $20M and issued shares to acquire patent rights, simplifying commercialization. The FDA accepted Immunome's NDA for varegacestat, with a target action date of April 28, 2027. H.C. Wainwright reiterated a Buy rating with a $40 target.

Stifel initiated coverage on Immunome Inc. (IMNM) with a Hold rating and $24 price target, citing uncertainty around its lead drug and pipeline. The stock trades at $21.51, down 10% in a week but up 87% over a year. The FDA accepted Immunome's New Drug Application for varegacestat, with a target action date of April 28, 2027. The company also began a Phase 1 trial for IM-3050. H.C. Wainwright maintains a Buy rating and $40 target.

Immunome Inc. (IMNM) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Immunome Reports Second Quarter 2026 Financial Results and Provides Business Update August 11, 2026 • Varegacestat PDUFA target action date set for April 28, 2027, following U.S. FDA acceptance of New Drug Application (NDA) for adults with desmoid tumors • Detailed P

Immunome reported $582.7M cash as of March 31 and a Q1 net loss of $53.8M. The article says an insider sale occurred via a preset plan as the FDA accepted Immunome’s varegacestat NDA for review. It cites an FDA decision date of April 28, 2027, based on Phase 3 data showing an 84% lower risk of progression.

Hyperliquid Strategies tripled its share buyback program to $100 million, with shares trading below net asset value. The company holds $HYPE tokens and its stock, $PURR, trades at a 0.89x multiple to NAV. The buyback aims to retire 3.8% of shares, offering per-share accretion. The decision reflects a balance between buybacks and $HYPE accumulation, with potential impacts on staking yields and NAV.