Issue 003 | U.S. Pilot | US

IMA

ImageneBio, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-07 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 42.3%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 122,006,000USD
Total Liabilities: 13,355,000USD
NCAV: 108,651,000USD
Cash: 76,048,000USD
NCAV per share: 9.69USD/share
Evidence: 5 annual | 22 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated: 12
Triggered: 2
Unavailable: 7

Requires inspection Negative OCF -14,800,000

Latest: -14,800,0002026-03-31
Comparison: n/a
Change: n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-212073

Supporting observation Current Ratio > 1.5 18.39

Latest: 18.392026-03-31
Comparison: 1.5
Change: n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-212073

7 unavailable checks — inspect missing inputs

High Debt (short-term debt + long-term debt) / ordinary equity >= 50%

Low Debt (short-term debt + long-term debt) / ordinary equity < 20%

Material 1Y Share Increase 1Y share change >= +2% using the same share-count source

NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive

No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source

Non-Positive Equity ordinary shareholders equity <= 0

Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2026-03-31 10-Q Open filing	2025-12-31 10-K Open filing	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-Q Open filing	2024-12-31 10-K Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-Q Open filing	2023-12-31 10-K Open filing	2023-09-30 10-Q Open filing	2023-06-30 10-Q Open filing	2023-03-31 10-Q Open filing	2022-12-31 10-K Open filing	2022-09-30 10-Q Open filing	2022-06-30 10-Q Open filing	2022-03-31 10-Q Open filing	2021-12-31 10-K Open filing	2021-09-30 10-Q Open filing	2021-06-30 10-Q Open filing
Period-end Shares Outstanding	n/an/a	931,80311,181,639	931,80611,181,672	n/an/a	n/an/a	4,021,50948,258,111	n/an/a	n/an/a	n/an/a	4,021,50948,258,111	3,675,38944,104,672	3,524,95642,299,478	n/an/a	3,021,45836,257,493	3,021,45836,257,493	3,020,99836,251,977	3,009,12836,109,534	2,997,92035,975,034	2,989,81635,877,794	2,988,26035,859,119
Weighted-average Basic Shares	11,211,26811,211,268	405,9094,870,906	710,5658,526,781	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Weighted-average Diluted Shares	11,211,26811,211,268	405,9094,870,906	710,5658,526,781	4,021,50948,258,111	4,021,50948,258,111	4,021,50948,258,111	4,021,50948,258,111	4,021,50948,258,111	4,021,50948,258,111	3,477,92341,735,081	3,619,82043,437,844	3,274,39239,292,710	3,021,45836,257,493	3,015,70236,188,420	3,021,42336,257,074	3,013,41336,160,951	n/an/a	n/an/a	n/an/a	n/an/a
Basic EPS	-1-1	-10-10	-10-10	-0-0	-0-0	-1-1	-1-1	-1-1	-0-0	-2-2	-1-1	-1-1	-0-0	-2-2	-2-2	-1-1	-0-0	-1-1	-1-1	-1-1
Diluted EPS	-1-1	-10-10	-10-10	-0-0	-0-0	-1-1	-1-1	-1-1	-0-0	-2-2	-1-1	-1-1	-0-0	-2-2	-2-2	-1-1	-0-0	-1-1	-1-1	-1-1
Basic-to-Diluted Share Difference	0.0%	0.0%	0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Net Share Count Change	2662.0%	-0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	9.4%	4.3%	Insufficient evidence	Insufficient evidence	0.0%	0.0%	0.4%	0.4%	0.3%	0.1%	Insufficient evidence
Ownership Claim Change	-96.4%	0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	-8.6%	-4.1%	Insufficient evidence	Insufficient evidence	0.0%	-0.0%	-0.4%	-0.4%	-0.3%	-0.1%	Insufficient evidence

Verified split events: reverse 12.0 on 2026-03-31

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 10-K USD	2024-12-31 10-K USD	2023-12-31 10-K USD	2022-12-31 10-K USD	2021-12-31 10-K USD
Revenue	800,000	3,500,000	9,160,000	15,618,000	30,985,000
Operating Income	-48,451,000	-58,973,000	-75,417,000	-70,904,000	-34,138,000
Net Income	-45,349,000	-49,234,000	-68,166,000	-68,765,000	-34,115,000
Cash From Operations	-47,844,000	-46,004,000	-79,743,000	-74,109,000	-60,252,000
Capex	n/a	-414,000	-414,000	-1,431,000	-1,760,000
Free Cash Flow	n/a	-46,418,000	-80,157,000	-75,540,000	-62,012,000
Cash And Equivalents	94,532,000	39,393,000	119,894,000	59,919,000	232,217,000
Accounts Receivable	n/a	n/a	n/a	n/a	n/a
Inventory	n/a	n/a	n/a	n/a	n/a
Total Current Assets	140,288,000	127,169,000	178,662,000	160,010,000	236,516,000
Total Assets	152,976,000	141,510,000	192,092,000	172,259,000	247,879,000
Total Current Liabilities	11,234,000	10,778,000	14,205,000	21,503,000	27,189,000
Total Liabilities	19,837,000	15,576,000	22,335,000	25,290,000	40,002,000
Shareholders Equity	133,139,000	125,934,000	169,757,000	146,969,000	207,877,000
Shares Outstanding	11,181,639	48,258,111	48,258,111	36,257,493	35,975,034
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,870,906	48,258,111	41,735,081	36,188,420	27,983,359
Weighted Avg Shares Basic	4,870,906	48,258,111	41,735,081	36,188,420	27,983,359
Net Share Count Change (Normalized)	-0.0%	Insufficient evidence	9.4%	0.0%	0.3%
Ownership Claim Change (Normalized)	0.0%	Insufficient evidence	-8.6%	0.0%	-0.3%

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric	2026-03-31 10-Q USD	2025-12-31 10-K USD	2025-12-31 10-K USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-12-31 10-K USD	2023-09-30 10-Q USD	2023-06-30 10-Q USD	2023-03-31 10-Q USD	2022-12-31 10-K USD	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-12-31 10-K USD	2021-09-30 10-Q USD	2021-06-30 10-Q USD
Revenue	800,000	n/a	n/a	0	n/a	800,000	n/a	n/a	3,500,000	2,004,000	5,313,000	658,000	1,185,000	2,004,000	5,313,000	5,450,000	6,402,000	382,000	3,384,000	20,216,000	3,746,000	3,549,000
Operating Income	-12,079,000	-8,504,000	-2,313,000	-26,594,000	-8,750,000	-10,794,000	-12,517,000	-12,517,000	-12,407,000	-15,823,000	-18,226,000	-21,909,000	-19,503,000	-18,490,000	-15,515,000	-15,115,000	-17,876,000	-20,951,000	-16,962,000	2,791,000	-14,522,000	-12,687,000
Net Income	-10,619,000	-6,908,000	-9,184,000	-24,779,000	-2,767,000	-8,619,000	-9,124,000	-9,124,000	-10,234,000	-13,730,000	-16,146,000	-19,489,000	-17,343,000	-17,115,000	-14,219,000	-14,097,000	-17,338,000	-20,491,000	-16,839,000	2,797,000	-14,515,000	-12,681,000
Cash From Operations	-14,800,000	-7,218,000	-7,218,000	-26,642,000	-3,422,000	-10,562,000	-6,260,000	-6,260,000	-8,938,000	-12,502,000	-18,304,000	-21,819,000	-19,997,000	-18,143,000	-19,784,000	-17,655,000	-17,219,000	-19,451,000	-19,784,000	-13,368,000	-17,990,000	-15,724,000
Capex	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0	0	-152,000	-262,000	0	0	-152,000	-231,000	-1,131,000	-36,000	-33,000	-550,000	-184,000	-187,000
Free Cash Flow	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-8,938,000	-12,502,000	-18,456,000	-22,081,000	-19,997,000	-18,143,000	-19,936,000	-17,886,000	-18,350,000	-19,487,000	-19,817,000	-13,918,000	-18,174,000	-15,911,000
Cash And Equivalents	76,048,000	94,532,000	94,532,000	103,162,000	58,290,000	36,763,000	39,393,000	39,393,000	45,190,000	44,268,000	52,852,000	119,894,000	121,277,000	70,868,000	29,329,000	59,919,000	67,074,000	48,487,000	46,877,000	232,217,000	245,899,000	264,004,000
Total Current Assets	122,006,000	140,288,000	140,288,000	147,532,000	99,013,000	116,999,000	127,169,000	127,169,000	141,533,000	149,321,000	161,166,000	178,662,000	200,634,000	160,646,000	141,178,000	160,010,000	177,978,000	199,145,000	216,050,000	236,516,000	251,865,000	268,710,000
Total Liabilities	13,355,000	19,837,000	19,837,000	21,046,000	10,259,000	12,588,000	15,576,000	15,576,000	14,756,000	14,626,000	17,435,000	22,335,000	28,146,000	15,064,000	17,379,000	25,290,000	31,680,000	36,816,000	34,792,000	40,002,000	58,442,000	62,567,000
Shares Outstanding	n/a	n/a	11,181,639	11,181,672	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	44,104,672	42,299,478	36,257,493	36,257,493	36,257,493	36,251,977	36,109,534	35,975,034	35,877,794	35,859,119
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	11,211,268	n/a	4,870,906	8,526,781	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	47,806,651	43,437,844	39,292,710	36,257,493	36,257,493	36,257,074	36,160,951	36,075,407	35,930,458	35,860,284	35,853,341
Weighted Avg Shares Basic	11,211,268	4,870,906	4,870,906	8,526,781	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	48,258,111	47,806,651	43,437,844	39,292,710	36,257,493	36,257,493	36,257,074	36,160,951	36,075,407	35,930,458	35,860,284	35,853,341
Net Share Count Change (Normalized)	2662.0%	-0.0%	-0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	9.4%	4.3%	Insufficient evidence	Insufficient evidence	0.0%	0.0%	0.4%	0.4%	0.3%	0.1%	Insufficient evidence
Ownership Claim Change (Normalized)	-96.4%	0.0%	0.0%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	-8.6%	-4.1%	Insufficient evidence	Insufficient evidence	0.0%	-0.0%	-0.4%	-0.4%	-0.3%	-0.1%	Insufficient evidence

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	122,006,000USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json
Total Liabilities	13,355,000USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json
Cash	76,048,000USD	us-gaap:CashAndCashEquivalentsAtCarryingValue	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json
Shares Outstanding	11,211,268	us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json Data Vault \| sec/companyfacts/cik=0001835579/companyfacts.json
NCAV	108,651,000USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	9.69USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	42.3%	derived	2026-03-31	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / weighted_avg_shares_diluted

Source Provenance

Data Source: Data Vault
Data Vault Root: Local evidence | The Data Vault
CIK: 0001835579
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0001835579/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0001835579/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 21
Imported At: 2026-08-15T12:52:12+00:00
Rendered At: 2026-08-16T03:29:48+00:00

Run Audit

Mary Run: 8f67c1da7de642feb640d04491409c50
Mary As Of: 2026-07-25
Accession: 0001193125-26-212073
CIK: 0001835579
Mary Filing Date: 2026-05-07
Filing Currency: USD
Internal Discount: 42.3%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=8f67c1da7de642feb640d04491409c50; mary_as_of=2026-07-25; mary_filing_date=2026-05-07; mary_accession=0001193125-26-212073; mary_cik=0001835579; gnni_supporting_filing_date=2026-05-07; internal_discount=0.42319; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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