Immunome Inc. IMNM, set terms for its initial public offering, in which the Pennsylvania-based biopharmaceutical company focused on oncology looks to raise up to $32.5 million.
The company is offering 2.5 million shares in the IPO, which is expected to price between $11 and $13 a share. With 9.3 million shares outstanding after the IPO, the pricing values the company at up to $120.7 million. The stock is expected to list on the Nasdaq under the ticker symbol “IMNM.”
The book-running managers are Ladenburg Thalmann and Chardan. For the six months ended June 30, the company recorded a net loss of $5.4 million on no revenue, after a loss of $4.8 million on no revenue in the same period a year ago.
The company is looking to go public at a time that the Renaissance IPO ETF IPO IPO, -1.31% has rallied 23.2% over the past three months, while the iShares Nasdaq Biotechnology ETF IBB, -0.61% has declined 3.7% and the S&P 500 SPX, 1.17% has gained 7.5%