$IMA

ImageneBio, Inc.

CIK:0001835579|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues [Abstract]
License revenue				$ 800
Operating expenses:
Research and development	$ 6,669	$ 5,653	$ 12,630	9,693
General and administrative	5,115	1,705	11,233	4,460
Total operating expenses	11,784	7,358	23,863	14,153
Loss from operations	(11,784)	(7,358)	(23,863)	(13,353)
Other income (expense):
Interest income (expense)	1,248	(236)	2,377	(313)
Other income , net	374	9	715	4
Total other income (expense), net	1,622	(227)	3,092	(309)
Loss before income taxes	(10,162)	(7,585)	(20,771)	(13,662)
Income tax expense	(16)		(26)
Net loss	(10,178)	(7,585)	(20,797)	(13,662)
Accretion of redeemable convertible preferred shares	0	(3,149)	0	(6,200)
Net loss attributable to common stockholders	$ (10,178)	$ (10,734)	$ (20,797)	$ (19,862)
Net loss per common share, basic and diluted
Net loss per share, basic	$ (0.63)	$ (4.46)	$ (1.52)	$ (8.26)
Net loss per share, diluted	$ (0.63)	$ (4.46)	$ (1.52)	$ (8.26)
Weighted-average common shares outstanding, basic and diluted
Weighted-average common shares outstanding, diluted	16,161,721	2,406,516	13,700,170	2,405,680
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net loss	$ (10,178)	$ (7,585)	$ (20,797)	$ (13,662)
Other comprehensive loss:
Unrealized loss on marketable securities	(34)		(138)
Foreign currency translation adjustment		(17)		(26)
Total comprehensive loss	$ (10,212)	$ (7,602)	$ (20,935)	$ (13,688)
Common Stock
Weighted-average common shares outstanding, basic and diluted
Weighted-average common shares outstanding, basic	16,161,721	2,406,516	13,700,170	2,405,680
Weighted-average common shares outstanding, diluted	16,161,721	2,406,516	13,700,170	2,405,680

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (20,797)	$ (13,662)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	1,787	57
Amortization of right of use-assets	350	158
Accretion of discounts on marketable securities, net	(11)	0
Non-cash interest expense	0	393
Depreciation and amortization expense	0	4
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(20)	(6,206)
Deposits and other non-current assets	(2,974)	(1)
Accounts payable	(462)	961
Accrued expenses and other current liabilities	(570)	(14)
Deferred revenue	0	(650)
Other non-current liabilities	(32)	0
Operating lease liabilities	(1,144)	(171)
Net cash used in operating activities	(23,873)	(19,131)
Cash flows from investing activities:
Purchases of marketable securities	(18,933)	0
Maturities of marketable securities	18,147	0
Net cash used in investing activities	(786)	0
Cash flows from financing activities:
Proceeds from exercise of stock options	35	45
Proceeds from issuance of pre-funded warrants to purchase common stock, net of issuance costs	28,048	0
Proceeds from term loan	0	15,000
Payment of issuance costs in connection with reverse recapitalization	(3,279)	0
Payment of deferred offering costs	0	(2,001)
Net cash provided by (used in) financing activities	24,804	13,044
Effect of exchange rate changes on cash and cash equivalents	0	(10)
Net change in cash and cash equivalents	145	(6,097)
Cash and cash equivalents at beginning of period	94,532	12,118
Cash and cash equivalents at end of period	94,677	6,021
Supplemental disclosure of noncash investing and financing activities:
Change in right-of-use asset and lease liabilities due to contract modification	81	0
Accretion of redeemable convertible preferred shares	0	6,200
Deferred offering costs included in accounts payable and accrued expenses and other current liabilities	$ 0	$ 2,543

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 94,677	$ 94,532
Marketable securities	41,476	40,817
Prepaid expenses and other current assets	4,959	4,939
Total current assets	141,112	140,288
Operating lease right-of-use assets, net	521	790
Deposits and other non-current assets	7,852	4,878
Total assets	152,045	152,976
Current liabilities:
Accounts payable	977	1,439
Accrued expenses and other current liabilities	3,684	7,533
Operating lease liabilities, current	1,912	2,262
Total current liabilities	6,573	11,234
Operating lease liabilities, non-current	0	713
Other non-current liabilities	838	870
Total liabilities	9,971	19,837
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred Stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	392,964	363,094
Accumulated other comprehensive income (loss)	(51)	87
Accumulated deficit	(250,850)	(230,053)
Total stockholders' equity	142,074	133,139
Total liabilities and stockholders' equity	152,045	152,976
Voting Common Stock
Stockholders' equity:
Common stock value	11	11
Non-voting Common Stock
Stockholders' equity:
Common stock value	0	0
Related Party
Current assets:
Promissory note receivable from related party	2,560	7,020
Current liabilities:
CVR liability due to related party	$ 2,560	$ 7,020