Immuneering Corp IMRX
We are a late-stage clinical oncology company focused on keeping cancer patients alive and helping them thrive. We are developing and seeking to commercialize an entirely new category of anti-cancer medicines, Deep Cyclic Inhibitors, which we believe have the potential to be more effective and better tolerated targeted therapies.
Deep Cyclic Inhibition® ("DCI") is a novel mechanism that aims to deprive tumor cells of the sustained proliferative signaling required for rapid growth, while sparing healthy cells through a cadenced, normalized level of signaling. Our Deep Cyclic Inhibitors inhibit clinically-validated core signaling pathways, such as the mitogen-activated protein kinase ("MAPK") pathway. Our novel approach is designed to improve durability and tolerability, and differentiates us from chronically targeted precision therapies, which are generally limited by toxicity, resistance and/or application to specific mutations only.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $317.0K | $2.1M | $2.3M | — |
| Cost of revenue | — | — | $0 | $158.1K | $1.2M | $1.3M | — |
| Gross profit | — | — | $0 | $158.8K | $926.9K | $1.0M | — |
| R&D | $42.0M | $48.0M | $41.6M | $36.3M | $26.5M | $15.0M | — |
| SG&A | $17.3M | $16.1M | $16.8M | $15.6M | $8.3M | $3.1M | — |
| Total operating expenses | $59.4M | $64.1M | $58.4M | $51.9M | $34.8M | $18.1M | — |
| Operating income | -$59.4M | -$64.1M | -$58.4M | -$51.7M | -$33.9M | -$17.1M | — |
| Pre-tax income | -$56.0M | — | — | -$50.5M | -$33.8M | -$17.0M | — |
| Income tax | $0 | — | — | — | $307.5K | — | — |
| Net income | -$56.0M | -$61.0M | -$53.5M | -$50.5M | -$33.5M | -$17.0M | — |
| EPS, basic | -1.27 | -2.04 | -1.88 | -1.91 | -2.46 | -3.44 | — |
| EPS, diluted | -1.27 | -2.04 | -1.88 | -1.91 | -2.46 | -3.44 | — |
| Shares, diluted (wtd. avg.) | $44.0M | $30.0M | $28.4M | $26.4M | $13.6M | $5.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $128.6M | $36.1M | $59.4M | $72.6M | $74.9M | $37.1M | $13.8M |
| Short-term investments | — | $0 | $26.3M | $32.9M | $74.3M | — | — |
| Receivables | — | — | $0 | $12.4K | $246.0K | $500.1K | — |
| Total current assets | $176.2M | $39.6M | $89.1M | $108.7M | $152.3M | $37.7M | — |
| Property, plant and equipment | $938.5K | $1.1M | $1.4M | $1.4M | $807.2K | $64.4K | — |
| Goodwill | $6.7M | $6.7M | $6.7M | $6.7M | $6.7M | — | — |
| Other intangibles | $321.1K | $350.4K | $379.7K | $408.9K | $439.0K | — | — |
| Total assets | $232.0M | $52.7M | $102.6M | $122.4M | $166.7M | $38.4M | — |
| Accounts payable | $1.5M | $2.0M | $2.1M | $3.2M | $1.4M | $1.5M | — |
| Total current liabilities | $10.1M | $7.5M | $7.8M | $8.1M | $5.6M | $2.3M | — |
| Total liabilities | $13.5M | $11.3M | $12.0M | $12.5M | $10.7M | $2.8M | — |
| Retained earnings | -$280.3M | -$224.3M | -$163.3M | -$109.8M | -$59.3M | -$25.7M | — |
| Total equity | $218.5M | $41.4M | $90.6M | $109.9M | $156.0M | -$22.5M | -$6.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$45.3M | -$55.0M | -$49.0M | -$44.1M | -$30.9M | -$14.6M | — |
| Depreciation and amortisation | $324.5K | $355.8K | $322.8K | $247.2K | $45.5K | $24.3K | — |
| Stock-based compensation | $6.3M | $6.5M | $5.7M | $4.1M | $1.8M | $1.1M | — |
| Capital expenditure | $142.2K | $84.9K | $342.7K | $742.5K | $60.8K | $53.4K | — |
| Investing cash flow | -$88.7M | $26.4M | $7.3M | $41.8M | -$75.6M | -$53.4K | — |
| Financing cash flow | $226.6M | $5.3M | $28.4M | $19.0K | $144.3M | $38.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001790340-26-000042.
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