10-K · March 6, 2026
Immuneering is a late-stage clinical oncology company commercializing a novel 'Deep Cyclic Inhibitors' approach, with lead candidate atebimetinib (320 mg QD) advancing toward a global Phase 3 (MAPKeeper 301). The…
Earnings analysis · 10-Q
IMRX earnings analysis
Filed May 15, 2026 · Our reading of the company's report
The latest report
Immuneering reported a Q1 2026 net loss of $13.5 million, improving from a loss of $15.0 million in Q1 2025. Despite not disclosing revenue figures, the company maintained a cash position of $198.6 million, securing…
Read full summary
Immuneering reported a Q1 2026 net loss of $13.5 million, improving from a loss of $15.0 million in Q1 2025. Despite not disclosing revenue figures, the company maintained a cash position of $198.6 million, securing operational funding into 2029. Management discussed ongoing clinical trials for their lead product atebimetinib, amidst a backdrop of reduced R&D expenses and increased interest income.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.21
What stood out
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Improved EPS Compared to Last Year
Q1 2026 EPS improved to -$0.21 from -$0.42 in Q1 2025.
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Reduced R&D Expenses
R&D expenses decreased 7.2% to $10.645 million from $11.472 million year-over-year.
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Significant Cash Reserves
As of March 31, 2026, the company had $198.6 million in cash, ensuring operations through 2029.
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Increased Interest Income
Interest income rose to $1.36 million from $439,000 a year prior, reflecting improved cash balances.
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Upcoming Clinical Trials
Atebimetinib's Phase 3 clinical trial, MAPKeeper 301, is set to start mid-2026.
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Positive Clinical Data
Positive interim data from the Phase 2a trial was announced in January 2026, supporting atebimetinib's potential.
What to watch
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Ongoing Operational Losses
The company reported a net loss of approximately $13.5 million for Q1 2026, contributing to an accumulated deficit of $293.8 million.
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Dependence on Future Funding
To finance operations beyond 2029, additional capital will be needed, which could constrain operational capability.
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Regulatory Approval Uncertainties
FDA approval is pending for atebimetinib; any failures could substantially affect financial prospects.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 13, 2025
Immuneering reported a GAAP net loss of $14,433,881 for the quarter ended June 30, 2025 (net loss per share $(0.40)), with cash and cash equivalents of $26,355,498 as of June 30, 2025. Management raised equity via an…
10-K · March 1, 2024
Immuneering is a clinical-stage oncology company developing 'deep cyclic inhibition' small-molecule programs (lead candidates IMM-1-104 and IMM-6-415) and reports early clinical/translational progress (IND clearances,…
10-Q · November 9, 2023
Immuneering reported no product revenue for the quarter (Revenue $—) and a net loss of $12,595,211 (EPS $(0.43)) for the three months ended September 30, 2023, a modest EPS improvement versus the prior-year quarter EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.