ImageneBio, Inc., a clinical-stage biopharmaceutical company, develops therapeutics for patients with immunological, autoimmune and inflammatory diseases. Valued at $67.7M, IMA is a micro-cap name in its sector. Its lead product candidate includes IMG-007, a non-depleting anti-OX40 monoclonal antibody that binds to OX40 receptor on activated T cells to block receptor binding to OX40 ligand which is in Phase 1b/2a clinical trial.
Market Cap
$67.7M
Beta
—
P/E (TTM)
—
P/E (Fwd)
-1.51
EPS (TTM)
$-4.96
EPS (Fwd)
$-3.98
ROE
-86.2%
ROA
-45.6%
Cash
$117.2M
Total Debt
$2.4M
Free CF
-$27.3M
52W Change
-59.7%
Annual Financials
Cash vs Debt
With $117.2M in cash and $2.4M in debt, IMA maintains more liquidity than leverage. This favorable balance sheet position can be an asset when capital markets become less accommodating. The company is burning cash, with free cash flow at -$27.3M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. Return on equity stands at -86.2%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has pulled back from $8.0M (2023) to $800K (2025), a 90% decline worth watching.
With cash comfortably exceeding debt, IMA has financial flexibility that may help navigate uncertain periods. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for ImageneBio, Inc. and its sector.