ImageneBio, Inc. (IMA): M&A transaction — ImageneBio files Inmagene pre-merger financials: $13.7M loss, going concern, $6M cash

ImageneBio, Inc.

Inmagene net loss of $7.6M in Q2 2025 and $13.7M in first half 2025; accumulated deficit $197.5M.
Cash and equivalents $6.0M at June 30, 2025; operating cash burn $19.1M in first half 2025.
Management states substantial doubt about continuing as a going concern; cash insufficient for next 12 months.
Term loan of $22.9M (6% interest, secured by IMG-007) automatically forgiven upon merger close July 25, 2025.
Ikena concurrent financing of $75M contributed to fund IMG-007 development after merger.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ImageneBio, Inc. underwent a change of control involving Inmagene Biopharmaceuticals (closed 2025-07-25).

Action: change of control
Counterparty: Inmagene Biopharmaceuticals
Closing: 2025-07-25

Exact text from the filing

On July 25, 2025, the Delaware corporation formerly known as "Ikena Oncology, Inc." completed its previously announced merger with Inmagene Biopharmaceuticals, an exempted company with limited liability incorporated and existing under the laws of the Cayman Islands ("Inmagene"), in accordance with the terms of the Agreement and Plan of Merger, dated as of December 23, 2024

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Source: SEC EDGAR

accession 0001193125-25-179093

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