SAN DIEGO, Aug. 05, 2026 (GLOBE NEWSWIRE) -- ImageneBio, Inc. (Nasdaq: IMA) ("Imagene" or the "Company") today reported financial results for the quarter ended June 30, 2026, and provided a company update.

Company Highlights

   -- Olevaprubart, also known as IMG-007, the potential first-in-class 
      therapeutic targeting the OX40 pathway, is a non-T cell-depleting, 
      ADCC-silenced, anti-OX40 receptor antagonist with an extended half-life. 
 
          -- The Phase 2b ADAPTIVE trial of olevaprubart in moderate-to-severe 
             atopic dermatitis continues to progress as planned under the 
             amended protocol. 
 
          -- A long-term extension (LTE) study has been opened for patients 
             enrolled in ADAPTIVE and sites are actively enrolling patients 
             into the extension protocol. 
 
          -- A Phase 2 clinical trial of olevaprubart in alopecia areata is 
             planned to initiate in 2026. 
 
          -- The company will present two posters on olevaprubart at the 2026 
             European Academy of Dermatology and Venereology (EADV) Congress. 
 
   -- Imagene strengthened its leadership team with the appointments of Yanina 
      Grant-Huerta as Chief Financial Officer and Matt Robbins as General 
      Counsel. 
 
   -- $136.2 million in cash, cash equivalents and marketable securities as of 
      June 30, 2026, providing anticipated funding for planned operations into 
      the first quarter of 2028. 

"Imagene's olevaprubart is now primed to emerge as the leading OX40 signal blockade program. With our continued progress in advanced clinical development, our conviction remains strong," said Kristin Yarema, Ph.D., chief executive officer of Imagene. "Olevaprubart was engineered to be a genuinely differentiated medicine with the potential for strong, competitive efficacy and a favorable safety profile. This is what our Phase 2b ADAPTIVE study is designed to evaluate and we are very pleased with our progress. Atopic dermatitis and alopecia areata remain areas of significant unmet need, and, as we are following every new development in the field closely, none of it changes what we believe: that direct, T cell-targeted yet non-T cell depleting approaches like ours have the potential to provide durable, safe and strong benefit for patients. Our programs remain on track and we continue to advance as planned, including welcoming patients who have completed a year of treatment into our long-term extension study."

Recent Corporate Updates

   -- In April 2026, Imagene closed a $30 million private placement with 
      participation from both new and current investors. 
 
   -- In July 2026, Imagene appointed Yanina Grant-Huerta as Chief Financial 
      Officer. 
 
          -- Grant brings 20 years of financial and accounting leadership 
             experience in the biopharma industry. 
 
          -- She most recently served as Chief Accounting Officer at Atara 
             Biotherapeutics and previously spent 14 years at Amgen Inc. in 
             progressively senior finance and business analysis roles. 
 
   -- Imagene also appointed Matt Robbins as General Counsel, bringing more 
      than 15 years of corporate, securities, and transactional experience 
      advising public and private life sciences companies. 
 
   -- Dr. Ben Porter-Brown transitioned to a consulting role at the end of July 
      2026, continuing to support the Company as a consulting clinical 
      development expert and strategic advisor. 

Olevaprubart Program Updates

   -- Atopic Dermatitis: The previously announced protocol amendment to the 
      ADAPTIVE trial has been implemented, and the study continues to progress 
      under the amended protocol. 
 
          -- The amended protocol introduces a robust design intended to 
             further evaluate the potential of olevaprubart in 
             moderate-to-severe atopic dermatitis. 
 
          -- Topline data from the study is anticipated in the fourth quarter 
             of 2027. 
 
          -- A long-term extension study has been opened for those who have 
             completed one year in the ADAPTIVE study (NCT07734415) and 
             patients are actively moving into the LTE. 
 
          -- The Independent Data Monitoring Committee (IDMC) for the ADAPTIVE 
             study recommended the study proceed with no changes to the 
             protocol or monitoring on July 23, 2026. 
 
          -- As of July 31, 2026 no cases of Kaposi sarcoma have been observed 
             across the olevaprubart program, including in ongoing studies. 
   -- Alopecia Areata: Imagene remains on track to initiate a Phase 2 study of 
      olevaprubart in alopecia areata in 2026. 
 
          -- Initial data expected in 2028, leveraging the clinical operations 
             and investigator network the Company has developed through its 
             atopic dermatitis program. 
 
   -- Upcoming Scientific Presentations: Imagene will present two posters at 
      the 2026 European Academy of Dermatology and Venereology (EADV) Congress: 
 
          -- Title: IMG-007, a non-depleting OX40 antagonist: Optimizing Peak 
             Loading Concentration and Exposure Range to Unlock the Full 
             Potential of OX40-OX40L Pathway Targeting in Immune Mediated 
             Diseases 
 
                 -- Poster Number: P1683 
 
                 -- Abstract ID: AS-4099 
   -- Title: IMG-007, a non-depleting OX40 mAb, produces durable shift in TCR 
      repertoire and T cell function: Early biomarker insights from a Phase 
      1b/2a trial in immune-mediated alopecias 
 
          -- Poster Number: P2203 
 
          -- Abstract ID: AS-3275 

Second Quarter 2026 Financial Highlights

Cash Position: Following a $30 million PIPE financing completed in April 2026, the Company ended June 30, 2026 with $136.2 million in cash, cash equivalents and marketable securities. The Company expects that such resources will be sufficient to fund planned operations into the first quarter of 2028.

Research and Development (R&D) Expenses: R&D expenses were $6.7 million for the three months ended June 30, 2026, compared to $5.7 million for the same period in 2025. The Company continues to invest in clinical trial and personnel-related expenses associated with its primary development program.

General and Administrative (G&A) Expenses: G&A expenses were $5.1 million for the three months ended June 30, 2026, compared to $1.7 million for the same period in 2025.

Net Loss: Net loss was $10.2 million, or $0.63 loss per share, for the three months ended June 30, 2026, compared to a net loss of $10.7 million, or $4.46 per share, for the same period in 2025.

About Olevaprubart (formerly IMG-007)

Olevaprubart (formerly IMG-007) is an investigational, non-T cell-depleting monoclonal antibody targeting OX40, a receptor protein primarily found on activated human T cells. When OX40 binds its ligand OX40L in human tissue, the signal generated plays a key role in the activation, expansion, and survival of many subtypes of T cells. Targeted inhibition of OX40 is being studied in the clinic across a range of autoimmune, inflammatory and immunological conditions where aberrant signaling of one or more T cell subtypes is believed to drive disease. Olevaprubart has been engineered to include a silenced antibody-dependent cell-mediated cytotoxicity function demonstrated to avoid T cell depletion or killing and intended to minimize safety risk. This technology also resulted in an approximately 5-week half-life, prolonging therapeutic activity with the aim of maximizing time between doses for a patient.

About ImageneBio, Inc.

Imagene is a clinical-stage biotechnology company dedicated to developing therapeutics for patients with immunological, autoimmune and inflammatory diseases with differentiated clinical profiles. The Company's program, olevaprubart (formerly IMG-007), is a receptor targeting, nondepleting anti-OX40 monoclonal antibody with multiple differentiating features. Imagene has completed Phase 1b/2a clinical trials of olevaprubart in both atopic dermatitis and alopecia areata and is currently conducting a Phase 2b clinical trial of olevaprubart in patients with moderate-to-severe atopic dermatitis. For more information, please visit www.imagenebio.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding: the expected timing, progress and results of the Company's ongoing Phase 2b ADAPTIVE trial; the anticipated benefits and potential impact of the amended ADAPTIVE trial protocol; the expected timing of initiation of the Company's Phase 2 alopecia areata trial and the timing of initial clinical data; the therapeutic potential, safety profile and clinical differentiation of olevaprubart; the Company's plans to advance the development of olevaprubart across multiple inflammatory and autoimmune indications; the Company's planned scientific presentations and anticipated dissemination of clinical data; the Company's expected cash resources, capital requirements and financing plans; and other statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future. Words such as "will," "can," "expect," "may," "plan," "potential," "goal," or other words that convey uncertainty of future events or outcomes are used to identify these forward-looking statements. These statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: risks associated with the nonclinical and clinical development and regulatory approval of olevaprubart, including potential delays in the completion of clinical trials and potential safety and other complications thereof; the timing of the availability of data from the Company's clinical trials; the risk that competitor data may materially and adversely impact the Company,