Company Analysis

ImageneBio, Inc. (IMA)

Nasdaq: IMA · Biological Products, (No Diagnostic Substances) · San Diego, CA · filing with the SEC since 2021
Grade3.6
◀ Past 5.0● Present 2.6▶ Future 3.7
2 est.

The grade of ImageneBio, Inc.

Nine metrics read from its own filings, by tense
Headline grade
3.6/10
◀ Past5.025% of the headline
● Present2.635% of the headline
▶ Future3.740% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.0/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.1/10

Has it survived what it has been through?

2 warning events since 2021; the latest 2025-08-05.

weight 22% of this tense · 41st percentile among 159 sector filers · read for itself

From the record

ImageneBio, Inc.'s filings since 2021 show 2 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2023-06-30); an auditor change (8-K item 4.01, the latest 2025-08-05) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
1.8/10

What has it actually done, year after year?

-38.6% a year over 6 filed years; profitable in 0 of 6.

weight 45% of this tense · 18th percentile among 102 sector filers · read for its customers

From the record

ImageneBio, Inc.'s 6 filed years say what it did: revenue went from $9 million in fiscal 2020 to $800 thousand in fiscal 2025, down 38.6% a year; it rose in 1 of 5 years; the deepest fall was 97% from fiscal 2021 to fiscal 2025; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-38.6%bottom 2% of its family
  • the share of years revenue rosebottom 10% of its family
  • the share of filed years with a profitbottom 31% of its family
  • the deepest fall from a revenue peak97.4%bottom 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
10.0/10

How has it treated the people who own it?

SI estimate 10.0/10, confidence 35 of 100 (one part).

weight 33% of this tense · 100th percentile among 146 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the top 1% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 146 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: ImageneBio, Inc.'s shareholder treatment is put at 10.0 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 1% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.6/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
5.1/10

Is it financially healthy right now?

ROE -34%: lost 34¢ per shareholder dollar. Leverage 13%: owes 13¢ per asset dollar.

weight 45% of this tense · 51st percentile among 147 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, ImageneBio, Inc. lost about 34 cents for every dollar of shareholders' money. Leverage: it owed about 13 cents per dollar of assets, and net share issuance: its share count grew 307.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 17% of its family
  • return on equitytop 36% of its family
  • the share count against the year beforebottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
1.3/10

How strong is its position in its industry?

bottom 13% of 102 in its family; net margin -5668.6%.

weight 22% of this tense · 13th percentile among 102 sector filers · read for its customers

From the record

ImageneBio, Inc.'s standing among 102 graded names in its industry family: revenue of $800 thousand in fiscal 2025 ranks in the bottom 17% by size; a net margin of -5668.6% ranks in the bottom 19%; revenue growth of -62.9% a year over the last 3 filed years ranks in the bottom 4% (its annual reports).

What it rests on

  • revenue against the family$800,000bottom 17% of its family
  • net margin-5668.6%bottom 19% of its family
  • three-year revenue growth-62.9%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
0.1/10

What are the people in charge doing?

SI estimate 0.1/10, confidence 35 of 100 (one part).

weight 33% of this tense · 1st percentile among 137 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 1% of 137 in its family; the record of its people begins on 2025-07-25 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2025-07-25 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 137 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: ImageneBio, Inc.'s leadership is put at 0.1 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 1% of 137 in its family; the record of its people begins on 2025-07-25 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.7/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.9/10

How much room does it have to grow?

top 41% of 92 in its family for room to expand.

weight 33% of this tense · 59th percentile among 92 sector filers · read for itself

From the record

ImageneBio, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $95 million against no long-term debt tagged leaves 61.8% of its assets as net cash, top 24% of its family; cash from operations less capital spending is -5980.5% of revenue (bottom 14%); research spending of 3565.6% of revenue (top 13%) (its annual report).

What it rests on

  • cash less debt against assets61.8%top 24% of its family
  • cash from operations less capital spending against revenue-5980.5%bottom 14% of its family
  • research spending against revenue3565.6%top 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.5/10

What could actually drive growth from here?

bottom 25% of 100 in its family for growth drivers.

weight 45% of this tense · 25th percentile among 100 sector filers · read for its customers

From the record

ImageneBio, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -62.9% a year over the last three filed years against -38.6% over all 6, slowing (bottom 28% of its family); the newest year grew -77.2% (bottom 3%); research spending grew -23.7% a year (bottom 9%); capital spending grew -18.6% a year (top 39%) (its annual reports). ImageneBio, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-24.2 points a yearbottom 28% of its family
  • the newest year's revenue growth-77.2%bottom 3% of its family
  • three-year growth of research spending-23.7%bottom 9% of its family
  • three-year growth of capital spending-18.6%top 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
2.6/10

Did its newest year beat what its own record pointed to?

bottom 26% of 72 in its family for expectations against reality.

weight 22% of this tense · 26th percentile among 72 sector filers · read for its shareholders

From the record

ImageneBio, Inc.'s newest year against its own record: revenue of $800 thousand in fiscal 2025 came in 51.7% below the $2 million its prior three years' pace pointed to (bottom 15% of its family); net income of $45 million against a prior three-year average of $58 million (top 43%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 6%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-51.7%bottom 15% of its family
  • net income against the prior three years' average+22%top 43% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton IMA · research, not advice