One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Immuneering Corporation
IMRX · NGM · Healthcare · Biotechnology
Current price
$3.99
52-week range
$3.38 - $8.48
Market cap
$258.14M
Balance sheet
Healthy
-19.54x Concerning
Net cash $146.27M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Immuneering Corporation
Immuneering Corporation is developing new cancer medicines, like a drug called atebimetinib, that are in late-stage testing for common types of cancer. Their money mainly comes from partnerships with bigger drug companies like Regeneron and Eli Lilly, who are helping test their medicines. This is important because these partnerships help fund the expensive process of getting new drugs approved and to patients.
How the company got here
Immuneering Corporation was founded in 2008 by a team with deep roots in biological engineering and computer science from MIT. They recognized the power of systems biology and bioinformatics to understand complex diseases, leading to the creation of a platform that uses human data to discover and develop potential medicines. Initially, Immuneering operated as a bioinformatics services company, providing analysis to larger pharmaceutical firms for over a decade. This profitable service-based business provided the capital to pivot and focus on developing its own pipeline of drug candidates. The company successfully went public with an Initial Public Offering (IPO) in July 2021, securing significant funding to advance its clinical programs.
What it actually does
Immuneering is a clinical-stage oncology company focused on developing new medicines for cancer patients. They use a proprietary approach called "Deep Cyclic Inhibition" (DCI), which is a way to target specific pathways in cancer cells that help them grow and multiply. The idea is to disrupt the constant signals that cancer cells need to survive, while ideally sparing healthy cells. This approach is enabled by their advanced bioinformatics and 3D tumor modeling capabilities, powered by artificial intelligence.
IMM-1-104 (atebimetinib)
This is Immuneering's lead drug candidate, currently in clinical trials for various advanced solid tumors, particularly those driven by RAS or RAF mutations. IMM-1-104 is designed as an oral, once-daily medication. It's being investigated as a standalone treatment and in combination with other therapies, including chemotherapy, for cancers like pancreatic cancer and non-small cell lung cancer. Recent studies have shown promising results, including positive overall survival data in pancreatic cancer patients when combined with chemotherapy, suggesting it could become a new standard of care.
IMM-6-415 (envometinib)
This is Immuneering's second drug candidate, also in clinical development for solid tumors with RAF or RAS mutations. IMM-6-415 is designed for twice-daily dosing and utilizes a similar Deep Cyclic Inhibition mechanism but with an accelerated cadence compared to IMM-1-104. It is being studied as a monotherapy and in combination with other treatments, including immune checkpoint inhibitors, to enhance their effectiveness. Preclinical data has shown its potential to target specific tumor types and improve therapeutic activity.
What management is betting on now
Immuneering's management is focused on advancing its pipeline of Deep Cyclic Inhibitors, primarily IMM-1-104 and IMM-6-415, through late-stage clinical trials. They are heavily investing in combination therapies, exploring how their drugs can work effectively with chemotherapy, targeted therapies, and immunotherapies to improve patient outcomes across a broad range of cancers. The company is also leveraging its AI-driven platform to identify new targets and develop future drug candidates, aiming to create a sustainable pipeline of innovative cancer treatments.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-13.48M
FY2024 Q4
$-14.52M
FY2025 Q1
$-14.09M
FY2025 Q2
$-9.45M
FY2025 Q3
$-11.98M
FY2025 Q4
$-9.96M
FY2026 Q1
$-18.51M
FY2026 Q2
$-16.53M
Revenue
—
Net income
$-17.27M
Diluted EPS
-0.27
Operating cash flow
$-16.50M
Free cash flow
$-16.53M
Fetching…
Sources
Revenue
—
Net income
$-13.46M
Diluted EPS
-0.21
Operating cash flow
$-18.43M
Free cash flow
$-18.51M
Fetching…
Sources
Revenue
—
Net income
$-11.58M
Diluted EPS
-0.07
Operating cash flow
$-9.84M
Free cash flow
$-9.96M
Fetching…
Sources
Revenue
—
Net income
$-14.96M
Diluted EPS
-0.38
Operating cash flow
$-11.98M
Free cash flow
$-11.98M
Fetching…
Sources
Revenue
—
Net income
$-14.43M
Diluted EPS
-0.40
Operating cash flow
$-9.45M
Free cash flow
$-9.45M
Fetching…
Sources
Revenue
—
Net income
$-15.05M
Diluted EPS
-0.42
Operating cash flow
$-14.08M
Free cash flow
$-14.09M
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Sources
Revenue
—
Net income
$-18.05M
Diluted EPS
-0.59
Operating cash flow
$-14.51M
Free cash flow
$-14.52M
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Sources
Revenue
—
Net income
$-14.60M
Diluted EPS
-0.49
Operating cash flow
$-13.47M
Free cash flow
$-13.48M
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Sources
Is it cheap or expensive?
Fair value — vs current price $3.99
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $146.3M - more cash than debt. Interest coverage -19.5x.
Net debt
$-146.27M
Interest coverage
-19.54x
Immuneering Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
IMRX
BASELINE
Immuneering Corporation
Total debt $3.63M Interest coverage -19.54x This is the baseline the peer rows are being compared against.
Total debt $2.07M Interest coverage -10.88x Neither company has much profit cushion over interest right now.
Total debt $11.24M Interest coverage -6.78x Neither company has much profit cushion over interest right now.
Total debt $101.53M Interest coverage -33.78x Neither company has much profit cushion over interest right now.
Total debt $24.45M Interest coverage -200.81x Neither company has much profit cushion over interest right now.
Total debt $39.95M Interest coverage 17.14x This peer still has a real interest-payment cushion, while IMRX does not.
What you should know
The case for and against IMRX
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -52.1% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-3.18x
P/B
1.35x
P/S
—
EV/EBITDA
-1.61x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-52.1%
ROA
-32.8%
Health
Liquidity and balance-sheet strength
Debt / equity
0.02x
Current ratio
19.47x
Quick ratio
18.47x
Total debt
$3.63M
Total cash
$149.90M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
-0.93
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-56.75M
Free CF TTM
$-45.49M
FCF margin
—
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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