Immunome Inc. Segments Disclosure
11. Segment information
The Company has one operating and reportable segment related to the development of targeted oncology therapies. The segment derives its current revenues from research and development collaborations.
The CODM assesses performance for the segment based on net loss, which is reported on the consolidated statements of operations and comprehensive loss as net loss. The measure of segment assets is reported on the consolidated balance sheets as total assets. When evaluating the Company’s financial performance, the CODM regularly reviews total revenues, total expenses and research and development expenses by program.
The table below is a summary of the segment net loss, including significant segment expense categories (in thousands):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Collaboration revenue |
|
$ |
6,941 |
|
|
$ |
9,041 |
|
Less: |
|
|
|
|
|
|
||
In-process research and development |
|
|
(10,000 |
) |
|
|
(152,344 |
) |
Direct research and development expenses(1) |
|
|
|
|
|
|
||
Varegacestat |
|
|
(52,359 |
) |
|
|
(27,954 |
) |
IM-1021 |
|
|
(11,028 |
) |
|
|
(24,130 |
) |
IM-3050 |
|
|
(5,801 |
) |
|
|
(13,359 |
) |
Other direct research and development |
|
|
(43,233 |
) |
|
|
(26,803 |
) |
Indirect research and development(2) |
|
|
(51,413 |
) |
|
|
(31,074 |
) |
General and administrative(3) |
|
|
(29,064 |
) |
|
|
(21,862 |
) |
Other segment expenses(4) |
|
|
(28,156 |
) |
|
|
(17,315 |
) |
Total operating expenses |
|
|
(231,054 |
) |
|
|
(314,841 |
) |
Loss from operations |
|
|
(224,113 |
) |
|
|
(305,800 |
) |
Interest income |
|
|
11,719 |
|
|
|
12,837 |
|
Net loss |
|
$ |
(212,394 |
) |
|
$ |
(292,963 |
) |
For the year ended December 31, 2025, the Company revised the presentation of its significant segment expense categories to align with how the CODM currently evaluates the Company's financial performance. Prior period amounts have been reclassified to conform to the current year presentation.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 3, 2026 | Showing above |
| 2024 | Mar 19, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.