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what it is
Imagenebio develops immune-disease drugs, led by IMG-007 and IK-595.
how it gets paid
Last year Imagenebio made $800K in revenue. IMG-007 collaboration was the main engine at $0.32M, or 40% of sales.
why growth slowed
Revenue fell 77.1% last year. EDGAR shows annual revenue of $800K, down 77.1% vs. prior year.
what just happened
Annual collaboration revenue was ~$800K; the -$9.98 EPS print is from a quarterly filing window—do not multiply the annual revenue line by mistake.
At a glance
C++ balance sheet — some cracks in the foundation
-$12.24 fy2024 EPS (est.) — not the same window as ~-$9.98 quarterly print
tiny revenue — vendor FY revenue estimates can sit far above current collaboration sales
pre-revenue style — ignore absurd operating-margin screens
1.2 beta
xvary composite: 30/100 — weak
What they do
Imagenebio develops immune-disease drugs, led by IMG-007 and IK-595.
The company has 9 employees and $800K in annual revenue, so you are backing a lab, not a factory. IMG-007 is already in Phase 2b, while IK-595 is still in Phase 1. That gap matters because one program is closer to proof, and proof is what can carry a $63M market cap.
How they make money
$800K
annual revenue · their business grew -77.1% last year
IMG-007 collaboration
$0.32M
IK-595 collaboration
$0.24M
Licensing revenue
$0.16M
Other research revenue
$0.08M
The products that matter
Phase 2b antibody program
IMG-007
lead asset · atopic dermatitis
it's the only named clinical asset on a company with $800K in revenue, $135M in cash, and a $63M market cap. that makes the trial data far more important than the income statement.
single shot on goal
early-stage research programs
Preclinical pipeline
behind the lead asset
these programs sit inside a company the market values at $63M despite $135M of cash. until they produce visible progress, they are expenses before they are assets.
optionality only
Key numbers
$63M
market cap
That is the whole stock story in one number. Two clinical programs are being priced like a real company, even though sales are still $800K.
$800K
annual revenue
This is tiny for a public biotech. It means the business is still a science project, not a sales engine.
$9M
long-term debt
Debt is small in dollar terms, but it sits on top of negative earnings. That is a bad mix when revenue is only $800K.
$75.0M
fresh financing
The merger raised real cash, but cash is not a cure. It only buys more shots at the same two programs.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $9M (12% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for IMA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
~$800K annual revenue; -$9.98 EPS in the latest quarter print.
EDGAR shows annual revenue of ~$800K, down 77.1% vs. prior year. The -$9.98 EPS line is quarterly—gross margin was not disclosed.
$800K
annual revenue
-$9.98
eps (Q · latest print)
n/a
n/a
the number that mattered
The $800K revenue figure mattered most because it was tiny next to the $63M market cap.
source: company earnings report, 2026
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What could go wrong
the #1 risk is IMG-007 Phase 2b failure in atopic dermatitis.
med
IMG-007 is the whole visible thesis
There is one named Phase 2b asset and only $800K in revenue. If the trial misses on efficacy or safety, the pipeline story loses its center of gravity fast.
With a ~$63M market cap and no commercial business to fall back on, weak data would likely pressure most of the current equity story.
med
The cash pile can shrink faster than confidence grows
$135M in cash looks comforting until you remember the company is loss-making and pre-commercial. Cash is runway, not proof.
If management spends heavily without a clean readout or a credible second asset, the market can keep valuing the company below cash.
med
Reverse-merger resets often need time to earn trust
The post-merger profile changed sharply, from legacy revenue history to a new clinical story. That gap can leave investors unsure what exactly they are underwriting.
Until the company shows consistent milestones, the stock can trade on skepticism, thin volume, and headline swings instead of fundamentals.
With $800K in revenue, one named Phase 2b asset, and a market cap far below the $135M cash balance, this is a trust problem before it is a valuation problem.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
IMG-007 Phase 2b data readout
The page points to Q4 2026. For a company with one named late-stage asset, that date matters more than almost anything on the income statement.
cash
quarterly cash burn
Start with the $135M cash balance, then watch how quickly trial spending and corporate overhead eat into it.
pipeline
whether one asset becomes two
A single-asset biotech always needs another credible shot on goal. If nothing else emerges, the stock stays tied to IMG-007 alone.
trading setup
volume and gap risk
At a ~$63M market cap with limited institutional sponsorship, small changes in sentiment can move the stock hard in either direction.
Analyst rankings
risk profile
below average
risk rank 4 — more volatile than most — brace for bigger swings.
source: institutional data
Institutional activity
institutional ownership data for IMA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$7
current price
n/a
target midpoint · n/a from current
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