Immunome Inc. (IMNM) saw its stock price plummet by 5.08% in Friday's trading session following the release of its full-year 2024 financial results. The biotechnology company reported a significant widening of its net loss and missed analyst expectations, raising concerns among investors about its financial performance and future prospects.
The company reported a net loss of $293.0 million for the full year 2024, representing a substantial 174% increase from the previous year. This translated to a loss of $5.00 per share, which was 14% worse than analyst estimates. Additionally, Immunome's revenue fell short of expectations, missing analyst forecasts by 3.9%.
Despite the disappointing results, analysts remain cautiously optimistic about Immunome's long-term potential. Revenue is forecast to grow at an average rate of 53% per annum over the next three years, outpacing the 20% growth projected for the US Biotechs industry. However, investors will be closely monitoring the company's ability to narrow its losses and achieve its growth targets in the coming quarters.
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