10 Best Biotech Stocks to Invest In According to Billionaire Steve Cohen

7. Immunome, Inc. (NASDAQ:IMNM)

Point72 Asset Management: $151,110,769

On April 29, Immunome, Inc. (NASDAQ:IMNM) reported the filing of a new drug application with the US Food and Drug Administration for varegacestat to treat people with desmoid tumors. The company grounded the filing in Phase 3 RINGSIDE trial data.

Immunome, Inc. (NASDAQ:IMNM) reported the trial hit its primary endpoint, which was improved progression-free survival with an 84% reduction in risk of disease progression or death compared to placebo. The company’s confirmed response rate for varegacestat was 56% compared to 9% for placebo in a blinded, independent central review.

Immunome, Inc. (NASDAQ:IMNM) showed an 83% shrinkage in median tumor size compared to an 11% increase in placebo in an exploratory study. The corporation also stated that the trial met all key secondary endpoints, including improvements in tumor volume reduction and worst pain intensity.

Immunome, Inc. (NASDAQ:IMNM) stated that varegacestat has manageable side effects, with common adverse outcomes including diarrhea, lethargy, rash, nausea, and cough.