On Sept. 24, Immunome revealed the terms for its IPO in an SEC filing. The biopharmaceutical company, which focuses on oncology, plans to raise up to $32.5 million. The stock will likely be listed on Nasdaq under the ticker symbol "IMNM." How can investors buy into the Immunome stock IPO?
When is the Immunome stock IPO date?
Immunome’s IPO date hasn't been set but it could happen as early as this week. The company is offering about 2.5 million shares in the IPO priced at $11–$13 per share. With 9.3 million shares outstanding after the IPO, the pricing values the company at about $120.7 million. The book-running managers are Chardan and Ladenburg Thalmann. Immunome has granted underwriters a 30-day option to buy an additional 375,000 shares at the IPO price.
Where to buy the Immunome stock IPO
You need a brokerage account to buy Immunome stock. If you’re a novice, you need to open a brokerage account with Robinhood, TD Ameritrade, or Vanguard. Next, you need to transfer funds to your brokerage account. Then, you can start investing in Immunome stock by searching for it by the company name or ticker symbol.
How to buy Immunome stock IPO on Robinhood?
If you have a stockbroking account with Robinhood, you can buy the Immunome stock IPO on the debut day when it goes public. You can only place limit orders on Robinhood, which implies that the broker doesn’t guarantee that the order will get filled.
Should you buy the Immunome stock IPO?
Immunome is a biotechnology company based in Exton, Pa. The company was founded in 2006 by Dr. Scott Dessain. The company is developing antibody therapies for infectious diseases and cancer. In 2017, the global market for biological treatments for cancer was an estimated $69.1 billion. The global market will likely be more than $108 billion by 2024, according to a 2018 market research report.
For the first half of 2020, Immunome posted a net loss of $5.4 million with no sales compared to a net loss of $4.8 million with no sales in the first half of 2019. For 2019, the company posted a net loss of $10.4 million with no sales compared to a net loss of $7.8 million with no sales in 2018. As of June 30, 2020, Immunome had $9.8 million in cash and $3.1 million in total liabilities.
Investors could avoid the Immunome stock IPO since it's a preclinical biotech company. A preclinical stage biopharma company poses a high risk and is more suitable to long-term hold institutional investors.