BUZZ-Immunome drops on $150 mln stock sale

Shares of Immunome Inc IMNM.O down 10% to $8.42 before the bell after overnight follow-on priced

Bothell, Washington-based oncology specialist late Weds announced ~19.3 mln shares at $7.75 for $150 mln gross raise

Deal size boosted from $125 mln, priced at 17.1% discount to last sale

JP Morgan, TD Cowen, Leerink and Guggenheim jt bookrunners

Co plans to use net offering proceeds to fund clinical/preclinical development of pipeline assets, and general purposes, per the SEC filing

With ~62.42 mln shares outstanding, IMNM has ~$584 mln market cap, per LSEG data

Through Weds close, stock down 12% YTD and down ~50% over the past 12 months

Still, all 7 analysts covering IMNM are bullish, including 4 "strong buy" ratings with median PT of $31.50 - LSEG