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Immuneering
(NASDAQ:IMRX)
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Rating:48Neutral
Price Target:
$3.50
▼(-32.04% Downside)
Action:Reiterated
Date:08/05/26
IMRX scores low-to-mid primarily because financial performance is weak (no durable revenue, ongoing losses, cash burn, and a highly abnormal negative TTM cash flow datapoint), and the technical setup remains bearish with the stock below all major moving averages. Offsetting factors include a relatively solid, low-debt balance sheet and positive clinical/program milestones that improve the longer-term fundamental outlook if execution continues.
Positive Factors
Low leverage and equity cushion
Very low leverage reduces financial risk and limits the burden of interest or debt repayment while the substantial equity base provides a cushion for ongoing operations. This gives Immuneering more flexibility to fund development and absorb volatility than a similarly loss-making company with heavier borrowing.
Negative Factors
Minimal and inconsistent revenue
The absence of sustained revenue shows that Immuneering remains dependent on advancing clinical programs rather than an established commercial business. Without a meaningful recurring revenue base, operating costs cannot be funded internally, leaving future financial performance highly dependent on successful development outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and equity cushion
Very low leverage reduces financial risk and limits the burden of interest or debt repayment while the substantial equity base provides a cushion for ongoing operations. This gives Immuneering more flexibility to fund development and absorb volatility than a similarly loss-making company with heavier borrowing.
Read all positive factors
Immuneering (IMRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$247.79M
Dividend YieldN/A
Average Volume (3M)706.46K
Price to Earnings (P/E)―
Beta (1Y)1.65
Revenue GrowthN/A
EPS Growth45.56%
CountryUS
Employees57
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.04
Shares Outstanding64,697,400
10 Day Avg. Volume684,101
30 Day Avg. Volume706,458
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.33
Price to Sales (P/S)0.00
P/FCF Ratio-6.37
Enterprise Value/Market Cap0.71
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-222.61
Enterprise Value/Ebitda-2.86
Forecast
1Y Price Target
$14.00Price Target Upside171.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.12
Revenue Forecast (FY)N/A
Immuneering Business Overview & Revenue Model
Company Description
Immuneering Corporation is a biopharmaceutical company dedicated to developing novel therapeutic candidates in the fields of oncology (cancer) and neuroscience. Leading its clinical development efforts are two key drug candidates: IMM-1-104, a dua...
Immuneering Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The earnings call presented strong positive updates, with remarkable clinical trial results and significant financial and strategic developments. While there are some challenges with specific treatments and regulatory timelines, the overall sentiment is positive due to the company's promising progress and future potential.Positive Updates
Extraordinary Overall Survival in Pancreatic Cancer
In September, Immuneering Corporation announced 86% overall survival at nine months in 34 first-line pancreatic cancer patients treated with atebimetinib plus modified gemcitabine nab-paclitaxel, compared to approximately 47% with the standard of care.
Negative Updates
Challenges with FOLFIRINOX Combination
While demonstrating potential, the FOLFIRINOX combination is not currently prioritized due to harsher side effects, limiting its use to younger, higher fitness patients.
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Q3-2025 Updates
Positive
Negative
Extraordinary Overall Survival in Pancreatic Cancer
In September, Immuneering Corporation announced 86% overall survival at nine months in 34 first-line pancreatic cancer patients treated with atebimetinib plus modified gemcitabine nab-paclitaxel, compared to approximately 47% with the standard of care.
Read all positive updates
Company Guidance
During the Immuneering Corporation's third-quarter 2025 conference call, CEO Benjamin Zeskind highlighted notable guidance for the company's development plans, focusing on their Phase IIa trial of atebimetinib. Immuneering plans to prioritize atebimetinib in combination with gemcitabine nab-paclitaxel due to its impressive 86% overall survival rate at nine months in first-line pancreatic cancer patients, compared to the standard 47%. The company aims to present updated results at a major medical meeting in 2026. Financially, Immuneering strengthened its position with $225 million in cumulative financing, extending its cash runway into 2029, which supports the planned pivotal Phase III trials and other developments. Additionally, the company is preparing to dose the first patient in a pivotal trial in mid-2026 and has planned studies with Regeneron and Eli Lilly, indicating broad potential for atebimetinib across various cancer types.Immuneering Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 316.95K | 2.08M |
| Gross Profit | -793.21K | -698.89K | 0.00 | 0.00 | 158.83K | 926.89K |
| EBITDA | -61.80M | -55.67M | -63.69M | -58.06M | -51.47M | -33.68M |
| Net Income | -57.28M | -56.02M | -61.04M | -53.47M | -50.51M | -33.54M |
Balance Sheet | ||||||
| Total Assets | 202.06M | 231.99M | 52.71M | 102.58M | 122.37M | 166.70M |
| Cash, Cash Equivalents and Short-Term Investments | 149.90M | 172.83M | 36.14M | 85.67M | 105.52M | 149.20M |
| Total Debt | 3.63M | 3.82M | 4.16M | 4.46M | 4.84M | 5.36M |
| Total Liabilities | 11.32M | 13.50M | 11.33M | 12.01M | 12.52M | 10.72M |
| Stockholders Equity | 190.74M | 218.48M | 41.39M | 90.58M | 109.85M | 155.98M |
Cash Flow | ||||||
| Free Cash Flow | -56.99M | -45.49M | -55.08M | -49.31M | -44.84M | -30.91M |
| Operating Cash Flow | -56.75M | -45.34M | -55.00M | -48.97M | -44.10M | -30.85M |
| Investing Cash Flow | -141.32M | -88.74M | 26.43M | 7.30M | 41.83M | -75.62M |
| Financing Cash Flow | 213.04M | 226.58M | 5.30M | 28.44M | 19.00K | 144.26M |
Immuneering Technical Analysis
Neutral
5.15
Price Trends
4.36
Negative
4.49
Negative
4.81
Negative
Market Momentum
-0.16
Negative
45.60
Neutral
77.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMRX, the sentiment is Neutral. The current price of 5.15 is above the 20-day moving average (MA) of 3.79, above the 50-day MA of 4.36, and above the 200-day MA of 4.81, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 45.60 is Neutral, neither overbought nor oversold. The STOCH value of 77.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IMRX.
Immuneering Risk Analysis
Immuneering disclosed 90 risk factors in its most recent earnings report. Immuneering reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Immuneering Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $653.34M | -3.54 | -73.18% | ― | ― | 9.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $247.79M | -3.68 | -27.15% | ― | ― | 45.56% | |
45 Neutral | $268.95M | -15.31 | -5.76% | ― | ― | 93.45% | |
44 Neutral | $248.28M | -1.20 | -137.39% | ― | ― | -27.00% | |
41 Neutral | $173.52M | -1.49 | -59.73% | ― | 26.30% | 59.47% |
* Healthcare Sector Average
IMRX
Immuneering
3.83
-2.66
-40.99%
LRMR
Larimar Therapeutics
2.39
-1.96
-45.06%
RCKT
Rocket Pharmaceuticals
2.45
-1.52
-38.29%
IVVD
Invivyd
0.59
-1.53
-72.26%
AURA
Aura Biosciences Inc
6.30
-0.07
-1.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.