IMRX Immuneering Corporation

28.48
-0.71  -2%
Previous Close 29.19
Open 29.15
52 Week Low 16.06
52 Week High 33.99
Market Cap $738,716,063
Shares 25,938,064
Float 21,188,426
Enterprise Value $707,470,803
Volume 1,259,124
Av. Daily Volume 130,541
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Drug Pipeline

Drug Stage Notes
IMM-1-104
Solid tumors
Phase 1
Phase 1
Phase 1 trial planned for 1H 2022.

Latest News

  1. Recently completed upsized initial public offering raising $129.4 million in gross proceeds, providing runway into 2024

    Company expects to file IND for IMM-1-104 in Q1 2022

    CAMBRIDGE, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today reported financial results for the second quarter ended June 30, 2021 and provided a corporate update.

    "We continue to make significant progress across all aspects of our organization and with the recent IPO proceeds and the additions to our management team and board of directors, we plan to…

    Recently completed upsized initial public offering raising $129.4 million in gross proceeds, providing runway into 2024

    Company expects to file IND for IMM-1-104 in Q1 2022

    CAMBRIDGE, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today reported financial results for the second quarter ended June 30, 2021 and provided a corporate update.

    "We continue to make significant progress across all aspects of our organization and with the recent IPO proceeds and the additions to our management team and board of directors, we plan to advance our pipeline and strive to bring novel medicines to patients," said Ben Zeskind, chief executive officer of Immuneering Corporation. "In the near term, we remain focused on continuing to advance IMM-1-104, our RAF-MEK inhibitor, targeting RAS mutant tumors into the clinic and anticipate filing our IND in Q1 2022."

    Corporate Highlights

    • Completed Initial Public Offering: On August 3, 2021, Immuneering announced the closing of its upsized initial public offering of 8,625,000 shares of Class A common stock, including the full exercise by the underwriters of their overallotment option to purchase 1,125,000 shares of Class A common stock, at a public offering price of $15.00 per share, for total gross proceeds of approximately $129.4 million, before deducting underwriting discounts, commissions and estimated offering expenses payable by Immuneering.
    • Strengthened Leadership Team: Immuneering further strengthened its management team with the appointment of Biren Amin as its Chief Financial Officer in April 2021 and Michael Bookman as the company's General Counsel and Secretary in July 2021.
    • Enhanced and Expanded Board of Directors: Immuneering also welcomed new additions to the board of directors with the appointments of Laurie Keating in April 2021, and Ann Berman in July 2021.
    • Completed Series B Financing in 1H 2021: Immuneering raised $62 million in a Series B financing led by Cormorant Asset Management, Surveyor Capital (a Citadel company), Rock Springs Capital, funds and accounts advised by T. Rowe Price Associates, Inc., funds and accounts managed by Blackrock, Perceptive Advisors, and LYFE Capital.

    Key Development Highlights

    • IMM-1-104 IND submission expected in Q1 2022: Immuneering expects to file the IND for IMM-1-104 in Q1 2022 and expects to start its Phase 1 trial evaluating IMM-1-104 in 1H 2022. IMM-1-104 is a highly selective dual-MEK inhibitor that has been designed to overcome MAPK-feedback loops and exhibits deep cyclic inhibition through its targeted potency and short half-life. As a result, Immuneering believes IMM-1-104 can target patients with a broad spectrum of mutations, such as KRAS and NRAS, that activate the MAPK pathway.

    Second Quarter 2021 Financial Highlights

    • Cash Position: Cash and cash equivalents as of June 30, 2021 were $50.2 million, compared with $37.1 million as of December 31, 2020. The June 30, 2021 cash and equivalents excludes $118.3 million in net proceeds from the Company's initial public offering, which was completed in August 2021.
    • Research and Development (R&D) Expenses: R&D expenses for the second quarter of 2021 were $7.0 million, compared with $3.2 million for the second quarter of 2020. The increase in R&D expenses was primarily attributable to higher preclinical costs related to the Company's lead programs and increased personnel to support ongoing research and development activities.
    • General and Administrative (G&A) Expenses: G&A expenses for the second quarter of 2021 were $1.3 million, compared with $0.6 million for the same period of 2020. The increase in G&A expenses was primarily attributable to an increase in headcount in our general and administrative functions to support the Company's business and to costs related to preparing for the Company's initial public offering.
    • Net Loss: Net loss attributable to common stockholders was $7.9 million, or $1.61 per share, for the quarter ended June 30, 2021, compared to $3.6 million, or $0.73 per share, for the quarter ended June 30, 2020.

    About Immuneering Corporation

    Immuneering is a biopharmaceutical company with an emerging pipeline focused on improving patient outcomes across a spectrum of debilitating oncologic and neurologic diseases by applying its deep knowledge of translational bioinformatics to every stage of the drug development process. Immuneering has more than a decade of experience in translational bioinformatics and generating insights into drug mechanisms of action and patient treatment responses. Building on this experience, Immuneering has developed a disease-agnostic platform that enables the company to utilize human data, novel biology and chemistry, and translational planning to create and advance its wholly owned pipeline. Immuneering's current development programs in oncology are focused on providing potential treatments for patients with solid tumors caused by mutations of oncologic signaling pathways, including the MAPK pathway. Immuneering's lead product candidate, IMM-1-104, is designed to be a highly selective dual-MEK inhibitor that further disrupts KSR for the treatment of advanced solid tumors in patients harboring RAS mutant tumors. Additionally, Immuneering has six other oncology programs in the discovery stage that are designed to target either the MAPK or mTOR pathway, and two neuroscience programs in the discovery stage.

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements," including, without limitation, statements regarding Immuneering's expectations regarding the anticipated use of net proceeds from its initial public offering, the sufficiency of Immuneering's cash and cash equivalents, the treatment potential of IMM-1-104, the timing of submission of the IND and commencement of clinical trials for IMM-1-104 and Immuneering's ability to advance its pipeline and further diversify its portfolio. Forward-looking statements are based on Immuneering's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology and neuroscience drug development, including target discovery, target validation, lead compound identification, lead compound optimization, preclinical studies and clinical trials. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in Immuneering's most recent Form 10-Q filed with the U.S. Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Immuneering undertakes no duty to update such information except as required under applicable law.        

    Corporate Contact:

    Rebecca Kusko, Ph.D.

    Immuneering Corporation

    617-500-8080

    rkusko@immuneering.com

    Investor Contact:

    Anne Marie Fields

    Managing Director

    Rx Communications

    afields@rxir.com



    IMMUNEERING CORPORATION

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited)

      Three Months Ended June 30,  Six Months Ended June 30, 
         2021     2020     2021     2020 
                 
    Revenue $660,040  $480,835  $1,408,240  $963,885 
    Cost of revenue  318,601   237,062   727,763   492,089 
                 
    Gross profit  341,439   243,773   680,477   471,796 
                 
    Operating expenses            
    Research and development  6,991,965   3,221,000   12,382,985   6,044,254 
    General and administrative  1,340,398   629,403   2,524,422   1,273,412 
    Total operating expenses  8,332,363   3,850,403   14,907,407   7,317,666 
    Loss from operations  (7,990,924)  (3,606,630)  (14,226,930)  (6,845,870)
                 
    Other income            
    Interest income  3,259   2,468   9,614   40,988 
    Net loss $ (7,987,665) $ (3,604,162) $ (14,217,316) $ (6,804,882)
                 
    Net loss per share attributable to common stockholders, basic and diluted $(1.61) $(0.73) $(2.87) $(1.37)
    Weighted-average common shares outstanding, basic and diluted  4,954,553   4,950,129   4,952,352   4,950,129 
                     

    IMMUNEERING CORPORATION

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)

         June 30, 2021    December 31, 2020
           
    Assets      
    Current assets:      
    Cash and cash equivalents $50,245,103  $37,090,151 
    Accounts receivable  495,105   500,110 
    Prepaids and other current assets  696,684   140,958 
    Total current assets  51,436,892   37,731,219 
           
    Property and equipment, net  82,077   64,363 
    Right-of-use asset, net  562,770   613,103 
    Other assets  960,386   14,333 
    Total assets $ 53,042,125  $ 38,423,018 
           
    Liabilities, Convertible Preferred Stock and Stockholders' Deficit      
    Current liabilities:      
    Accounts payable $1,432,516  $1,480,537 
    Accrued expenses  3,318,870   698,992 
    Lease liability, current  80,605   76,322 
    Total current liabilities  4,831,991   2,255,851 
           
    Long-term liabilities:      
    Lease liability, noncurrent  503,213   544,767 
    Total liabilities  5,335,204   2,800,618 
    Commitments and contingencies (Note 9)      
    Convertible preferred stock:      
    Series B preferred stock, $0.001 par value, 6,032,183 shares authorized, 6,032,145 and 3,619,292 shares issued and outstanding at June 30, 2021 and December 31, 2020  61,772,761   36,983,910 
    Series A preferred stock, $0.001 par value, 2,495,933 shares authorized, 2,495,933 shares issued and outstanding at June 30, 2021 and December 31, 2020  21,119,940   21,119,940 
    Total convertible preferred stock  82,892,701   58,103,850 
    Stockholders' deficit:      
    Class A common stock, $0.001 par value, 22,026,200 shares authorized, 5,275,936 and 4,950,129 shares issued and outstanding at June 30, 2021 and December 31, 2020  5,276   4,950 
    Class B common stock, $0.001 par value, 6,032,183 shares authorized, 0 shares issued and outstanding at June 30, 2021 and December 31, 2020      
    Additional paid-in capital  4,763,900   3,251,240 
    Accumulated deficit  (39,954,956)  (25,737,640)
    Total stockholders' deficit  (35,185,780)  (22,481,450)
    Total liabilities, convertible preferred stock and stockholders' deficit $ 53,042,125  $ 38,423,018 



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  2. CAMBRIDGE, Mass., Sept. 02, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today announced that Company management will participate in two upcoming virtual investor conferences in September 2021. At the conferences, Ben Zeskind, Ph.D., Co-Founder, President and Chief Executive Officer of Immuneering, Biren Amin, MBA, Chief Financial Officer and Brett Hall, Ph.D., Chief Scientific Officer, will share commentary with investors around the Company's pipeline, platform and business strategy.

    Morgan Stanley's 19th Annual Global Healthcare Conference (September…

    CAMBRIDGE, Mass., Sept. 02, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today announced that Company management will participate in two upcoming virtual investor conferences in September 2021. At the conferences, Ben Zeskind, Ph.D., Co-Founder, President and Chief Executive Officer of Immuneering, Biren Amin, MBA, Chief Financial Officer and Brett Hall, Ph.D., Chief Scientific Officer, will share commentary with investors around the Company's pipeline, platform and business strategy.

    Morgan Stanley's 19th Annual Global Healthcare Conference (September 9-15, 2021)

    • Format: Fireside Chat
    • Presentation Date/Time: September 14, 2021 at 4:15 p.m. ET.

    Oppenheimer Fall Healthcare Life Sciences & Med Tech Summit (September 20-23, 2021)

    • Format: Company presentation
    • Presentation Date/Time: September 21, 2021 at 4:35 p.m. ET.

    Both presentations will be webcast live and archived for 30 days on the Immuneering website in the Events section of the Investor Relations site.

    About Immuneering Corporation                                        

    Immuneering is a biopharmaceutical company with an emerging pipeline focused on improving patient outcomes across a spectrum of debilitating oncologic and neurologic diseases by applying its deep knowledge of translational bioinformatics to every stage of the drug development process. Immuneering has more than a decade of experience in translational bioinformatics and generating insights into drug mechanisms of action and patient treatment responses. Building on this experience, Immuneering has developed a disease-agnostic platform that enables the company to utilize human data, novel biology and chemistry, and translational planning to create and advance its wholly owned pipeline. Immuneering's current development programs in oncology are focused on providing potential treatments for patients with solid tumors caused by mutations of oncologic signaling pathways, including the MAPK pathway. Immuneering's lead product candidate, IMM-1-104, is designed to be a highly selective dual-MEK inhibitor that further disrupts KSR for the treatment of advanced solid tumors in patients harboring RAS mutant tumors. Additionally, Immuneering has six other oncology programs in the discovery stage that are designed to target either the MAPK or mTOR pathway, and two neuroscience programs in the discovery stage.        

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements." Forward-looking statements are based on Immuneering's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology and neuroscience drug development, including target discovery, target validation, lead compound identification, lead compound optimization, preclinical studies and clinical trials. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the offering filed with the U.S. Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Immuneering undertakes no duty to update such information except as required under applicable law.        

    Corporate Contact:

    Rebecca Kusko, Ph.D.

    Immuneering Corporation

    617-500-8080

    rkusko@immuneering.com

    Investor Contact:

    Anne Marie Fields

    Managing Director

    Rx Communications

    afields@rxir.com



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  3. CAMBRIDGE, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today announced the closing of its upsized initial public offering of 8,625,000 shares of Class A common stock, including the full exercise by the underwriters of their overallotment option to purchase 1,125,000 shares of Class A common stock, at a public offering price of $15.00 per share, for total gross proceeds of approximately $129.4 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Immuneering.

    Immuneering's Class…

    CAMBRIDGE, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Immuneering Corporation (NASDAQ:IMRX), a biopharmaceutical company advancing a robust pipeline of oncology and neuroscience product candidates that are designed to uniquely disrupt cellular signaling dynamics, today announced the closing of its upsized initial public offering of 8,625,000 shares of Class A common stock, including the full exercise by the underwriters of their overallotment option to purchase 1,125,000 shares of Class A common stock, at a public offering price of $15.00 per share, for total gross proceeds of approximately $129.4 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Immuneering.

    Immuneering's Class A common stock began trading on the Nasdaq Global Market under the ticker symbol "IMRX" on July 30, 2021.

    Morgan Stanley, Jefferies, Cowen and Guggenheim Securities acted as joint book-running managers.

    A registration statement relating to the securities being sold in the offering was declared effective by the U.S. Securities and Exchange Commission on July 29, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by e-mail at prospectus_department@jefferies.com; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at 833-297-2926.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

    About Immuneering Corporation

    Immuneering is a biopharmaceutical company with an emerging pipeline focused on improving patient outcomes across a spectrum of debilitating oncologic and neurologic diseases by applying its deep knowledge of translational bioinformatics to every stage of the drug development process. Immuneering has more than a decade of experience in translational bioinformatics and generating insights into drug mechanisms of action and patient treatment responses. Building on this experience, Immuneering has developed a disease-agnostic platform that enables the company to utilize human data, novel biology and chemistry, and translational planning to create and advance its wholly owned pipeline. Immuneering's current development programs in oncology are focused on providing potential treatments for patients with solid tumors caused by mutations of oncologic signaling pathways, including the MAPK pathway. Immuneering's lead product candidate, IMM-1-104, is designed to be a highly selective dual-MEK inhibitor that further disrupts KSR for the treatment of advanced solid tumors in patients harboring RAS mutant tumors. Additionally, Immuneering has six other oncology programs in the discovery stage that are designed to target either the MAPK or mTOR pathway, and two neuroscience programs in the discovery stage.        

    Forward-Looking Statements

    This press release includes certain disclosures that contain "forward-looking statements," including, without limitation, statements regarding Immuneering's anticipated use of net proceeds from the offering. Forward-looking statements are based on Immuneering's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology and neuroscience drug development, including target discovery, target validation, lead compound identification, lead compound optimization, preclinical studies and clinical trials. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the offering filed with the U.S. Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Immuneering undertakes no duty to update such information except as required under applicable law.        

    Corporate Contact:

    Rebecca Kusko, Ph.D.

    Immuneering Corporation

    617-500-8080

    rkusko@immuneering.com

    Investor Contact:

    Anne Marie Fields

    Managing Director

    Rx Communications

    afields@rxir.com



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