Immunome stock (IMNM) underwent a big rally on Monday after the biotech group reported encouraging top-line findings from its Phase 3 RINGSIDE study evaluating varegacestat in patients with desmoid tumors.
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Positive Trial Numbers
Varegacestat is a once-daily oral drug being tested in patients with desmoid tumors, which are non-cancerous growths that develop in connective tissue. Each year, about 900 to 1,500 people in the United States are diagnosed with desmoid tumors.
The pivotal trial achieved its primary endpoint, showing a statistically meaningful improvement in progression-free survival versus placebo. Results indicated an 84% reduction in the risk of disease progression or death.
“The progression-free survival benefit, high response rate and reduction in tumor volume with varegacestat in the RINGSIDE trial are striking. These findings elevate the role of GSIs and confirm varegacestat could become standard of care in the treatment of desmoid tumors,” said Mrinal M. Gounder, sarcoma medical oncologist at Memorial Sloan Kettering Cancer Center and RINGSIDE primary investigator.
Immunome said it plans to file a New Drug Application with the U.S. Food and Drug Administration in the second quarter of 2026.
It will hope to keep its share price in good shape. It is up well over 100% this year – see below:
The trial results set the stage for a high-stakes battle in the desmoid tumor market, currently dominated by SpringWorks Therapeutics’ Ogsiveo, which Merck acquired earlier this year.
Is IMNM a Good Stock to Buy Now?
On TipRanks, IMNM has a Strong Buy consensus based on 12 Buy ratings. Its highest price target is $36. IMNM stock’s consensus price target is $24.90, implying a 7.19% upside.
