IMRX

MKT CAP:$220M

Immuneering Corporation

Market Cap

$220M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$6.13-$0.49 (-7.40%)

Apr 23, 2026

Company Details

Immuneering Corporation, a biopharmaceutical company, focuses on the oncology and neuroscience product candidates. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor to treat patients with cancer, including pancreatic, mela...

CEO

Benjamin J. Zeskind

IPO Date

Jul 30, 2021

Website

immuneering.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$56M

EPS (Diluted)

-$1.38

Free Cash Flow

-$45M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Mar 6, 2026

$0EPS -$1.27

Q4 2025

Mar 6, 2026

$0EPS -$0.18

Q3 2025

Nov 12, 2025

$0EPS -$0.38

Q2 2025

Aug 13, 2025

$0EPS -$0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$183.7K	$92.9K	-$13M
Q2 22	$94.4K	-$155.9K	-$12M
Q3 22	$38.4K	$19.0K	-$13M
Q4 22	$455	$455	-$14M
Q1 23	$0	$0	-$15M
Q2 23	$0	-$193.5K	-$14M
Q3 23	$0	$0	-$14M
Q4 23	$0	-$185.2K	-$16M
Q1 24	$0	$0	-$15M
Q2 24	$0	$0	-$15M
Q3 24	$0	$0	-$15M
Q4 24	$0	-$174.6K	-$19M
Q1 25	$0	$0	-$15M
Q2 25	$0	$0	-$15M
Q3 25	$0	-$86.2K	-$15M
Q4 25	$0	-$612.7K	-$14M

Valuation

Quarter	P/S	P/E
Q1 22	145.0x	—
Q2 22	231.4x	—
Q3 22	434.3x	—
Q4 22	693.5x	—
Q1 23	1649.5x	—
Q2 23	5660.0x	—
Q3 23	483092.4x	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$12M	-$12M
Q2 22	-$9M	-$10M
Q3 22	-$11M	-$11M
Q4 22	-$12M	-$12M
Q1 23	-$14M	-$14M
Q2 23	-$11M	-$11M
Q3 23	-$12M	-$12M
Q4 23	-$12M	-$12M
Q1 24	-$15M	-$16M
Q2 24	-$12M	-$12M
Q3 24	-$13M	-$13M
Q4 24	-$15M	-$15M
Q1 25	-$14M	-$14M
Q2 25	-$9M	-$9M
Q3 25	-$12M	-$12M
Q4 25	-$10M	-$10M

Capital Expenditures

Quarter	CapEx
Q1 22	$115.1K
Q2 22	$165.0K
Q3 22	$393.1K
Q4 22	$69.3K
Q1 23	$28.0K
Q2 23	$86.7K
Q3 23	$57.1K
Q4 23	$170.9K
Q1 24	$37.5K
Q2 24	$32.8K
Q3 24	$5.3K
Q4 24	$9.4K
Q1 25	$8.9K
Q2 25	$2.1K
Q3 25	$7.3K
Q4 25	$123.9K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-75.4%	+87.7%
Q2 22	-85.7%	+35.7%
Q3 22	-92.0%	+46.5%
Q4 22	-99.8%	+23.7%
Q1 23	-100.0%	+12.0%
Q2 23	-100.0%	+15.0%
Q3 23	-100.0%	+5.3%
Q4 23	-100.0%	+16.6%
Q1 24	—	+4.4%
Q2 24	—	+10.4%
Q3 24	—	+9.7%
Q4 24	—	+13.8%
Q1 25	—	+1.0%
Q2 25	—	-1.0%
Q3 25	—	+0.7%
Q4 25	—	-25.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$897.6K	488.7%
Q2 22	$0	0.0%
Q3 22	$1M	2778.0%
Q4 22	$1M	230365.5%
Q1 23	$0	—
Q2 23	$0	—
Q3 23	$0	—
Q4 23	$0	—
Q1 24	$0	—
Q2 24	$2M	—
Q3 24	$2M	—
Q4 24	$0	—
Q1 25	$2M	—
Q2 25	$2M	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$9M	$4M	—
Q2 22	$8M	—	$4M
Q3 22	$9M	$4M	—
Q4 22	$10M	$4M	—
Q1 23	$10M	$4M	—
Q2 23	$9M	—	$4M
Q3 23	$10M	$4M	—
Q4 23	$12M	—	$4M
Q1 24	$11M	$4M	—
Q2 24	$11M	$4M	—
Q3 24	$11M	$4M	—
Q4 24	$15M	—	$4M
Q1 25	$11M	$4M	—
Q2 25	$10M	$4M	—
Q3 25	$11M	—	$4M
Q4 25	$9M	$4M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$75M	$63M	$138M
Q2 22	$88M	$40M	$128M
Q3 22	$76M	$41M	$117M
Q4 22	$73M	$33M	$106M
Q1 23	$77M	$14M	$92M
Q2 23	$104M	$5M	$109M
Q3 23	$68M	$29M	$97M
Q4 23	$59M	$26M	$86M
Q1 24	$66M	$5M	$71M
Q2 24	$60M	$0	$60M
Q3 24	$45M	$5M	$51M
Q4 24	$36M	$0	$36M
Q1 25	$36M	$0	$36M
Q2 25	$26M	$0	$26M
Q3 25	$228M	$0	$228M
Q4 25	$129M	$44M	$173M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	26M	+1.5%	+95.1%
Q2 22	26M	+0.1%	+10.5%
Q3 22	26M	+0.0%	+44.3%
Q4 22	26M	+0.0%	+1.7%
Q1 23	26M	+0.1%	+0.3%
Q2 23	29M	+8.3%	+8.6%
Q3 23	29M	+2.2%	+10.9%
Q4 23	29M	+0.0%	+10.8%
Q1 24	29M	+0.3%	+11.1%
Q2 24	30M	+1.0%	+3.5%
Q3 24	30M	+0.6%	+2.0%
Q4 24	31M	+4.0%	+6.1%
Q1 25	36M	+14.4%	+21.0%
Q2 25	36M	+1.3%	+21.4%
Q3 25	40M	+10.2%	+32.9%
Q4 25	44M	+10.9%	+41.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$2.9K	64
Q2 22	$1.5K	64
Q3 22	$600	64
Q4 22	$6	73
Q1 23	$0	73
Q2 23	$0	73
Q3 23	$0	73
Q4 23	$0	68
Q1 24	$0	68
Q2 24	$0	68
Q3 24	$0	68
Q4 24	$0	66
Q1 25	$0	66
Q2 25	$0	66
Q3 25	$0	66
Q4 25	$0	200K

Revenue / Employee