$IMNM
Immunome Inc

2023 Q4 Form 10-Q Financial Statement

#000155837023018425 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $3.826M $3.565M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.150M $4.420M
YoY Change 128.04% 32.77%
% of Gross Profit
Research & Development $9.527M $3.823M
YoY Change 126.13% -26.83%
% of Gross Profit
Depreciation & Amortization $147.0K $110.0K
YoY Change 54.74% 6.8%
% of Gross Profit
Operating Expenses $17.68M $8.198M
YoY Change 127.01% -3.94%
Operating Profit -$4.633M
YoY Change -45.71%
Interest Expense $2.019M $290.0K
YoY Change 201800.0% 28900.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$92.63M -$4.350M
YoY Change 1089.75% -49.02%
Income Tax
% Of Pretax Income
Net Earnings -$92.63M -$4.345M
YoY Change 1089.75% -49.08%
Net Earnings / Revenue -2421.17% -121.88%
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$2.17 -$0.36
COMMON SHARES
Basic Shares Outstanding 42.73M 12.20M
Diluted Shares Outstanding 12.20M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.1M $90.64M
YoY Change 579.73% 234.74%
Cash & Equivalents $98.68M $90.64M
Short-Term Investments $39.46M
Other Short-Term Assets $6.561M $770.0K
YoY Change 182.07% -64.37%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $144.7M $91.41M
YoY Change 538.89% 212.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.637M $1.172M
YoY Change 434.07% 66.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $230.0K
YoY Change -53.7% -46.76%
Total Long-Term Assets $3.837M $1.747M
YoY Change 174.66% 33.66%
TOTAL ASSETS
Total Short-Term Assets $144.7M $91.41M
Total Long-Term Assets $3.837M $1.747M
Total Assets $148.5M $93.16M
YoY Change 517.73% 204.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.311M $2.786M
YoY Change 37.96% -11.25%
Accrued Expenses $8.025M $3.370M
YoY Change 62.75% -20.33%
Deferred Revenue $10.49M $16.96M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.83M $23.11M
YoY Change 197.76% 213.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.829M $122.0K
YoY Change 10914.52% 31.18%
Total Long-Term Liabilities $6.829M $122.0K
YoY Change 10914.52% 31.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.83M $23.11M
Total Long-Term Liabilities $6.829M $122.0K
Total Liabilities $28.66M $87.09M
YoY Change 287.64% 1067.05%
SHAREHOLDERS EQUITY
Retained Earnings -$222.8M -$130.2M
YoY Change 92.07% 20.33%
Common Stock $4.000K $1.000K
YoY Change 300.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $119.9M $6.076M
YoY Change
Total Liabilities & Shareholders Equity $148.5M $93.16M
YoY Change 517.73% 204.99%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$92.63M -$4.345M
YoY Change 1089.75% -49.08%
Depreciation, Depletion And Amortization $147.0K $110.0K
YoY Change 54.74% 6.8%
Cash From Operating Activities -$17.46M -$8.620M
YoY Change 161.23% 13.86%
INVESTING ACTIVITIES
Capital Expenditures $351.0K $30.00K
YoY Change 387.5%
Acquisitions
YoY Change
Other Investing Activities -$29.65M
YoY Change
Cash From Investing Activities -$30.00M -$30.00K
YoY Change 41572.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.50M 60.88M
YoY Change
NET CHANGE
Cash From Operating Activities -17.46M -8.620M
Cash From Investing Activities -30.00M -30.00K
Cash From Financing Activities 55.50M 60.88M
Net Change In Cash 8.036M 52.23M
YoY Change -218.96% -789.87%
FREE CASH FLOW
Cash From Operating Activities -$17.46M -$8.620M
Capital Expenditures $351.0K $30.00K
Free Cash Flow -$17.81M -$8.650M
YoY Change 163.64% 14.25%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. Significant estimates and assumptions reflected in these condensed financial statements include, but are not limited to, the expected volatility used to estimate fair value of stock options, accrued research and development expenses, and the estimated costs which drive the revenue recognition for the Collaboration Agreement with AbbVie. Estimates and assumptions are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from these estimates.</p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
100000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.65
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
90641000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27078000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
100000
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
100000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90741000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27178000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:bold;">Concentration of credit risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in a financial institution in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at a financial institution that management believes to be of high credit quality, and the Company has not experienced any losses on these deposits. </p>
CY2023Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
300000
CY2023Q3 imnm Stock Issuance Costs Capitalized
StockIssuanceCostsCapitalized
100000
CY2023Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
100000
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3524419
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3812871
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.67
CY2023Q3 imnm Prepaid Subscriptions Prepaid Service Contracts And Short Term Deposits
PrepaidSubscriptionsPrepaidServiceContractsAndShortTermDeposits
416000
CY2022Q4 imnm Prepaid Subscriptions Prepaid Service Contracts And Short Term Deposits
PrepaidSubscriptionsPrepaidServiceContractsAndShortTermDeposits
876000
CY2023Q3 imnm Research And Development Expense Advance Payments
ResearchAndDevelopmentExpenseAdvancePayments
209000
CY2022Q4 imnm Research And Development Expense Advance Payments
ResearchAndDevelopmentExpenseAdvancePayments
445000
CY2022Q4 imnm Employee Retention Credit Receivable
EmployeeRetentionCreditReceivable
847000
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
148000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
158000
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
773000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2326000
CY2023Q3 imnm Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
713000
CY2022Q4 imnm Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
2261000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1377000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1874000
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
493000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
481000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
249000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
293000
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
537000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
22000
CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3369000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4931000
CY2023Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2022Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2023Q3 imnm Collaborative Arrangements Product Development And Regulatory Approval Milestone Payments Payable
CollaborativeArrangementsProductDevelopmentAndRegulatoryApprovalMilestonePaymentsPayable
2600000
CY2023Q3 imnm Collaborative Arrangements Commercial Milestone Payments Payable
CollaborativeArrangementsCommercialMilestonePaymentsPayable
1500000
imnm Collaborative Agreement Milestone Payments Made
CollaborativeAgreementMilestonePaymentsMade
100000
CY2022Q3 imnm Collaborative Agreement Milestone Payments Made
CollaborativeAgreementMilestonePaymentsMade
100000
imnm Collaborative Agreement Milestone Payments Made
CollaborativeAgreementMilestonePaymentsMade
0
CY2023Q3 imnm Collaborative Agreement Milestone Payments Made
CollaborativeAgreementMilestonePaymentsMade
0
imnm Common Stock Voting Right
CommonStockVotingRight
1
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1083000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1340000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3340000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3977000
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
7400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.885
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.856
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.027
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M19D
CY2023Q3 imnm Fair Value Of Common Stock
FairValueOfCommonStock
4.87
CY2022Q3 imnm Fair Value Of Common Stock
FairValueOfCommonStock
3.64
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2519405
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
658900
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
98216
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.56
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
55670
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
16.59
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
6700000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000

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