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Immuneering

IMRX Lead: Phase 3 11 Biotech Distilled articles ↓ 34 filings & releases ↓ Cash $58.2M (Sep 30, 2026) ↓ 11 verdicts ↓ 3 timing quotes ↓
Oncology Small Molecule

Market cap $238M 64.8M shares (vendor count, Nov 7, 2026) × $3.68 close Nov 6, 2026 · share count from the market-data vendor, not the SEC cover page

Most recent annual filing: 2026-03-06

Catalyst timeline

3 trackedQuarter catalyst calendar →
  1. atebi + Libtayo Phase 22H 2026atebi + Libtayo Phase 2, 2H 2026, routine
  2. Second DCI program IND filingMid-2027Second DCI program IND filing, Mid-2027, notable
  3. Atebimetinib IMM-1-104 Ph3 toplineMid-2028Atebimetinib IMM-1-104 Ph3 topline, Mid-2028, major

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (5 active programs)

Technology platforms

Deep Cyclic Inhibition

DCI platform leveraging translational bioinformatics and 3D tumor modeling to design small molecule Deep Cyclic Inhibitors targeting core cancer signaling pathways including MAPK (RAS/RAF/MEK/ERK) and other oncogenic pathways, with focus on solid tumor oncology.

Targets: MEK, ERK, MAPK pathway

Disease Cancelling Technology

DCT is a computational target identification platform using human transcriptomic data to identify novel drug targets and new ways to modulate existing targets for oncology drug discovery; disease-agnostic but currently focused on oncology.

Capital (as filed)

Cash
$58.2M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
−$16.8M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$166M cash, runway Q4 2028 per the update of Oct 29, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (11)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (11 calls)

Every verdict Biotech Distilled has published on Immuneering, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2025-12-29 Buy core Immuneering Corporation (IMRX): Scientific Due Diligence Lead and Pipeline Products The Phase 2a survival signal (86% OS vs. ~47% historical) is compelling, the cash runway to 2029 removes near-term dilution risk, and the DCI mechanism is scientifically sound, making IMRX a strong speculative oncology bet ahead of the January 7 data update.
  2. 2026-01-07 Speculative buy speculative UPDATE: Immuneering (IMRX) – 14.8 Months Median Survival (So FAR). Gravity Kicks In, But the Signal Survives. The 12-month OS of 64% (nearly double historical) and an unreached median OS at 14.8 months shifts the investment case from 'wildly speculative' to 'data-supported speculative,' improving the risk/reward ratio heading into Phase 3.
  3. 2026-03-07 Speculative buy speculative UPDATE: Immuneering (IMRX) - FY2025 Wrap-Up FDA and EMA alignment on Phase 3 design, an unreached median OS, and a $217M fortress balance sheet with runway into 2029 confirm Immuneering is entering the Phase 3 battlefield with exceptional de-risking on regulatory and financial fronts.
  4. 2026-04-27 Speculative buy speculative UPDATE: Immuneering (IMRX) - The Resistance Question Gets an Answer AACR ctDNA data (n=123) showing rare MAPK pathway reactivation provides the molecular backbone the bull case was missing, substantially weakening the 'DCI is post-hoc storytelling' leg of the bear case ahead of the ASCO n=55 oral on June 1.
  5. 2026-05-16 Speculative buy speculative UPDATE: Immuneering (IMRX) - The 27-Month Monotherapy Patient A 27-month monotherapy responder with 85% tumor reduction nibbles at the patient-selection-bias leg of the bear case, and the stock's 10.4% retracement to $5.16 has restored asymmetry ahead of the June 1 ASCO oral.
  6. 2026-05-21 Speculative buy speculative UPDATE: Immuneering (IMRX) - 17.3 Months. The Number Prints. The 17.3-month median OS in the expanded n=55 cohort is the most material de-risking event in the published thesis to date, substantially weakening the patient-selection-bias leg of the bear case, though Phase 3 randomized risk remains unretired until 2028.
  7. 2026-06-02 Speculative buy speculative UPDATE: Immuneering (IMRX) - The Data Hit. The Stock Got Hit Harder. The ASCO oral confirmed 17.3-month mOS across two cohorts with different follow-up durations (a key durability tell), and the 13.9% post-data drawdown to $4.49 is profit-taking mechanics rather than thesis damage, restoring asymmetry for Phase 3 setup.
  8. 2026-06-11 Speculative buy speculative UPDATE: Immuneering (IMRX) - First Patient Dosed. The 2028 Clock Starts. First patient dosed in MAPKeeper 301 on schedule with Eileen O'Reilly as lead PI is a key execution milestone, but the catalyst calendar is now sparse for ~24 months and the stock's post-ASCO drift to $4.12 reflects positioning, not thesis damage.
  9. 2026-08-06 Speculative buy speculative UPDATE: Immuneering (IMRX) - The Quiet Quarter, and the CFO Who Sold a Company for $6.7B A peer-reviewed DCI mechanism paper, 30+ Phase 3 sites live, and a corporate-development CFO with a $6.7B exit résumé are positive signals, but accelerating burn ($19M/quarter) puts an asterisk on the 'runway into 2029' claim and the thesis remains a 2028 Phase 3 setup.
  10. 2026-08-26 Speculative buy speculative UPDATE: Immuneering (IMRX) - A Competitor Gets Approved, and the Stock Goes Up 17% A 2L pancreatic cancer approval is a sector-sympathy event that doesn't touch Immuneering's 1L opportunity, and the +17% move off a cheap base reflects positioning rather than fundamentals, with Phase 3 read-through risk unchanged until mid-2028.
  11. 2026-10-30 Speculative buy speculative UPDATE: Immuneering (IMRX) - The Asterisk Becomes the Headline Phase 3 enrollment is ahead of schedule and the trial is better powered at 570 patients, but the runway cut to Q4 2028 reopens the dilution gap and makes a 2027 raise probable, so holders should size for possible dilution rather than assuming it away.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (3 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (34)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Apr 6, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

1 more filing (13G holder notices, S-8, proxy material, SEC correspondence …)